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MIL OSI Translation. Region: Russian Federation –

Source: Ministry of Economic Development (Russia) – An important disclaimer is at the bottom of this article.

One of the main results of the Government’s work in 2023 was to ensure the sustainability of the economy and its growth, the main task this year is to achieve stability of this growth. This was stated by the Minister of Economic Development of the Russian Federation Maxim Reshetnikov, commenting on the results of the report of the Prime Minister Mikhail Mishustin in the State Duma.

“Of the main things that everyone has noted is the stability of our economy, the economic growth that we saw last year and that continues this year. Our main task is to continue to do everything to make this growth stable, so that its rates correspond to people’s expectations,” said the head of the Ministry of Economic Development of the Russian Federation.

He emphasized that this is primarily related to the formation of a supply-side economy, a task set by the President at SPIEF-2023 and which has become key for the Government. First of all, this model consists in attracting investment to expand domestic production.

The report discussed the work of existing investment support instruments – agreements on protection and encouragement of capital investments, use of the National Wealth Fund, Project Finance Factory. Maxim Reshetnikov drew attention to the fact that last year’s investments grew by almost 10% in comparable prices. “This year everything is not so simple, because there are high interest rates, it affects investment activity. Our task is to use the available tools – interest rate subsidies and long-term guarantees for investors – to make sure that investment projects continue. We are focused on this on the instructions of the Government”, – he emphasized.

The minister pointed out that just last week the results of a large selection of projects in the tourism sector totaling about 900 billion rubles were summarized. “This is what will saturate the economy with services that our citizens need – hotels, ski resorts, water parks and so on,” he said.

According to Maxim Reshetnikov, it is important to continue working on these projects right now, when new proposals for national projects in the development of the President’s Address to the Federal Assembly are being prepared. “Now it is very important to specifically calibrate the programs in order to achieve maximum effect from the funds that are allocated to support the economy and in general for socio-economic development,” he concluded.

Please note; This information is raw content directly from the source of the information. It is accurate to what the source states and does not reflect the position of MIL-OSI or its customers.

Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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