Russia to approve parameters of Data Economy project by June 1 - Shadayev

MOSCOW. Oct 11 (Interfax) - The Russian authorities plan to approve the main parameters of the Data Economy national project by June 1, 2024, Digital Development Minister Maksut Shadayev said at a meeting of the State Duma Information Policy Committee on Tuesday.

President Vladimir Putin earlier ordered the government to approve this project for the period to 2030.

Shadayev said the Data Economy project will replace the Digital Economy project. "We are supposed to approve [the new project's] planned parameters by June 1 next year," he said.

He also said the draft federal budget for 2024 reduces spending on the Information Society government program and Digital Economy national project by about 11% compared to this year. In 2025 and 2026, financing for the government program will be slashed by almost half, while spending on the national project will amount to just over a quarter of the limits for 2023.

"This is due to the general decision to develop a new national project on the president's instructions - National Data Economy, which will replace the Digital Economy national project in 2025," Shadayev said.

In July, Putin issued instructions to draw up a national project to establish a data economy, and stressed that this should not just involve consolidating existing instruments of support for the development of the digital economy, artificial intelligence and high-tech projects.

"We need to build a comprehensive mechanism for the creation and ubiquitous adoption of the latest advances. This actually applies to all technologies and spheres of life," Putin said at the time.