29 Feb 2024 14:27

Russian non-resource non-energy exports must grow two-thirds by 2030 - Putin

MOSCOW. Feb 29 (Interfax) - Russia's non-resource non-energy exports must grow two-thirds by 2030, while the share of imports in the economy must fall to 17% of GDP and investments in key sectors must grow 70% by 2030, President Vladimir Putin said in his address to the Federal Assembly.

"I propose setting a goal: the share of domestic, high-tech goods and services in the domestic market over the next six years must increase 50%, and the volume of non-resource non-energy exports must grow at least two-thirds," he said.

Putin said Russian imports reached 26% of GDP in 1999 but 19% in 2022 "and in the period to 2030 we need to achieve an import level of no more than 17% of GDP." "This means that we ourselves must produce consumer and other goods in much greater volumes," he said.

Putin said that over the next six years, gross value added in the manufacturing industry must grow at least 40% compared to 2022.

He said the goal had been set: "The volume of investments in key areas of the Russian economy must increase 70% by 2030."