Russia must take advantage of low ruble to replace imports - Medvedev
GORKI. Jan 28 (Interfax) - Russia must raise the appeal of domestic-made products as much as possible while the ruble is weak to achieve import replacement objectives, Russian Prime Minister Dmitry Medvedev said.
"The products of Russian companies have become more appealing on both the domestic and foreign market due to the fall in the ruble's exchange rate. And this must be taken advantage of as much as possible," he said at a meeting with governors to discuss ways of ensuring stable economic development and social stability in 2015.
Medvedev added that it was necessary to continue replacing imports, which has already been seen in several sectors of the Russian economy. This concerns pipes, coal, steel, and certain food products.
"Among other things, it's necessary to organize the production of goods that for one reason or another are currently not being supplied, including, for example, several groups of goods that were previously shipped from Ukraine," Medvedev said.
He said demand from industrials sectors for local products must be stimulated. "It has been decided to extend for at least a year the program for Russia's regions to procure Russian-made equipment running on gas engine fuel. We are also extending the program for the scrappage of automobiles, for which 10 billion rubles is budgeted. It's quite likely that something will have to be increased," Medvedev said.
He said the anti-crisis plan contained a restriction on "the participation of foreign manufacturers in state procurement tenders of the same goods are manufactured in Russian territory."
"We'll be stimulating and localizing the production in our country, via state contracts, of Russian-made goods. I think each regional head is interested in the emergence on his own territory of modern new enterprises geared towards our market and, if possible, exports," Medvedev said.
