PM Mishustin outlines conditions to bring Russian economy to top 4 around the world

MOSCOW:  Accelerating the influx of investment, transformation of the labor market, efficiency of the real sector, and quick development of ...


MOSCOW:  Accelerating the influx of investment, transformation of the labor market, efficiency of the real sector, and quick development of infrastructure could help propel the Russian economy into the top four largest in the world by 2030, Prime Minister Mikhail Mishustin said on Tuesday.

"By 2030, Russia should be one of the world's top four economies in terms of purchasing power parity. Of course, we must act quickly and in various directions," he said.

According to him, the first step is to assure an accelerated development of investment in capital-intensive businesses, as well as technological and industrial sovereignty projects. "It is important to transform the labor market, to create a system that would allow more flexible retraining of personnel in accordance with the needs of our economy," he said. Mishustin recalled that Russia's unemployment rate has fallen to a historical low of 2.8%.

Furthermore, he believes it is vital to boost real sector efficiency and labor productivity. "We have a relevant national project underway, which last year encompassed about 6,000 enterprises employing around 1.5 million people. It is vital to ensure quick infrastructure development and promote exports of non-resource and non-energy items to friendly countries' markets," he said.


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Local Glob: PM Mishustin outlines conditions to bring Russian economy to top 4 around the world
PM Mishustin outlines conditions to bring Russian economy to top 4 around the world
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