Approved the development strategy of manufacturing industry of RF

the Chairman of the government of the Russian Federation Mikhail Mishustin approved the strategy of development of the manufacturing industry until 2024 and for the period up to 2035.

As the press service of the Cabinet of Ministers, the strategy aims to “accelerate technological development, the adoption of digital technologies and growth of competitiveness of export products”.

the Document envisages, in particular, the increase by 2024, the number of companies engaged in innovation, up to 50% of the total, the increase in the cost of digitization to 5.1% of the generated gross value added and labour productivity growth in the medium and large enterprises rate below 5% per year.

“At the end of the strategy, the growth index of manufacturing industry should reach 116% by 2024, 2035 and 192% (compared to the base year 2019). This, in turn, will help accelerate the development of the Russian economy, will help to increase the incomes and reduce the poverty level”, — underlined in the message.

Recall also that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.

may 11, Russian President Vladimir Putin announced the end of may 12, a single period of days off, entered March 30, in the fight against COVID-19. He also announced the beginning of implementation of the third package of anti-crisis measures, under which the state, in particular, will increase targeted support for families with children, small businesses, individual entrepreneurs and self-employed. In addition, Putin instructed the government to prepare a national plan for long-term development of the economy, the recovery in employment and incomes.

on 27 may, the Minister of economic development (MED) of the Russian Federation Maxim Reshetnikov said that the total cost of anti-crisis measures to support the Russian economy, aimed at combating the impact of the pandemic coronavirus has reached 3.3 trillion rubles.

on 2 June Prime Minister Mikhail Mishustin presented to the President a national plan for the recovery of the Russian economy in 2020-2021 years, noting in particular that the cost of the plan will be about 5 trillion rubles.

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