Mishustin plans to increase volume of non-resource, non-energy exports by 2/3

  MOSCOW: Russia’s Acting Prime Minister Mikhail Mishustin announced plans to increase the volume of non-resource, non-energy exports by two...

 


MOSCOW: Russia’s Acting Prime Minister Mikhail Mishustin announced plans to increase the volume of non-resource, non-energy exports by two-thirds, agricultural products - 1.5 times, he said at the consideration of his candidacy for the post of head of government in the State Duma.

"When increasing production volumes, it is important to consider that new goods require markets. Not only within the country, but also internationally. The volume of non-raw material and non-energy exports must be increased by at least two-thirds and supplies of agricultural items - 1.5 times," he said.

Russia must become more attractive for businesses

The Russian government will increase the attractiveness of Russian jurisdiction for business, acting Prime Minister Mikhail Mishustin said at the consideration of his candidacy for the post of head of government in the State Duma.

"We will continue to support the mechanisms of project and equity financing. We will increase the attractiveness of the Russian jurisdiction," he said.

Revenues of small and medium-sized business employees need to be increased

Acting Prime Minister of the Russian Federation Mikhail Mishustin announced plans to increase the revenues of employees of small and medium-sized businesses by 2030.

"The small and medium-sized business sector, which, as the head of state said, is making an increasingly significant contribution to economic growth, has a special role. In the next six years, we need to increase the income of employees of such organizations," he said at the consideration of his candidacy for the post of head of government in the State Duma.

Share of Russian high-tech goods to grow 1.5 times in 6 years

The implementation of technological sovereignty projects will help increase the share of Russian high-tech goods 1.5 times over six years, acting Prime Minister Mikhail Mishustin said at the consideration of his candidacy for the post of head of government in the State Duma.

"The share of local high-tech goods and services created based on our own developments will increase 1.5 times in six years," he said.

Russia has one of the lowest public debts in the world of around 17%

Russia’s level of public debt today is one of the lowest in the world at around 17%, acting Prime Minister Mikhail Mishustin said at the consideration of his candidacy for the post of head of government in the State Duma.

"Today Russia’s debt burden is the lowest in the world - around 17%," he said.

Russia's GDP growth reaches 5.4% in Q1

The growth of Russia’s gross domestic product (GDP) in the Q1 of 2024 reached 5.4%, and the growth of real disposable income of the population was 5.9%, acting Prime Minister Mikhail Mishustin said at the consideration of his candidacy for the post of head of government in the State Duma.

"Contrary to the current pressure, in the first quarter we reported positive growth in many macro indicators. GDP in the first quarter grew by 5.4%," he said.

According to Mishustin, the growth of industrial production amounted to 5.6%, manufacturing industry - 8.8%, construction - 3.5%, agriculture - 1.1-1.2%, but as he explained, the final results will come later. The growth in retail turnover was 10.5%. "Real disposable income [grew by] 5.9%," Mishustin added.

At the same time, he noted that Russia’s level of public debt today is one of the lowest in the world at around 17%. "Today Russia’s debt burden is the lowest in the world - around 17%," he said.

State Duma to review candidacies of ministers, deputy ministers in upcoming days

The Russian State Duma will review candidacies of ministers and deputy ministers in the upcoming days, Acting Prime Minister Mikhail Mishustin said during a Duma meeting.

"In the upcoming days you will have to make a decision - to approve a new cabinet," he told lawmakers.

Russian authorities will work towards increasing people’s revenues

Russia intends to achieve not only the development of the economy in general, but also to increase in people’s revenues, acting Prime Minister Mikhail Mishustin said at the consideration of his candidacy for the post of head of government in the State Duma.

"The President has set a serious task - by 2030, Russia should become one of the four largest economies in the world in terms of purchasing power parity. We need not only to increase the gross output of goods and services - growth must be accompanied by an increase in people’s revenues," he noted.

Mishustin also announced plans to increase the revenues of employees of small and medium-sized businesses by 2030.

"The small and medium-sized business sector, which, as the head of state said, is making an increasingly significant contribution to economic growth, has a special role. In the next six years, we need to increase the income of employees of such organizations," he said at the consideration of his candidacy for the post of head of government in the State Duma.

Russia's fiscal, monetary, tax policies absolutely independent

Russia has independent fiscal, monetary, and tax policies, acting Prime Minister Mikhail Mishustin said at the consideration of his candidacy for the post of head of government in the State Duma.

"Our tax, budget, and monetary policies are absolutely independent," he said.

"It seems to me that the budgetary elements are quite balanced and have performed well during the most difficult crises," Mishustin added.

Infrastructure budget loans to be increased annually by $2.71 bln

The volume of funds allocated for infrastructure budget loans will grow annually by 250 bln rubles ($2.71 bln), acting Prime Minister Mikhail Mishustin said at the consideration of his candidacy for the post of head of government in the State Duma.

"We will continue to attract investments in Russian regions and their infrastructure. We have well-known mechanisms in place. The most popular of them are infrastructure budget loans. We will increase their volume by at least 250 bln rubles annually," Mishustin said.

At the same time, Mishustin announced plans to increase the volume of non-resource, non-energy exports by two-thirds, agricultural products - 1.5 times.

"When increasing production volumes, it is important to consider that new goods require markets. Not only within the country, but also internationally. The volume of non-raw material and non-energy exports must be increased by at least two-thirds and supplies of agricultural items - 1.5 times," he said.

Mishustin does not plan restrictions for foreign businesses wishing to work in Russia

There are no plans to introduce restrictions for foreign businesses wishing to continue working in Russia or start investing in the country, acting Prime Minister Mikhail Mishustin said at the consideration of his candidacy for the post of head of government in the State Duma.

"Despite the ongoing pressure on our country, we do not plan to introduce any restrictions for those foreign businessmen who want to continue working with us or plan to come to Russia with new projects," Mishustin said.

He also stressed that the Russian government will increase the attractiveness of Russian jurisdiction for business. "We will continue to support the mechanisms of project and equity financing. We will increase the attractiveness of the Russian jurisdiction," he said.

Mishustin says government will not limit work of Russian business in foreign markets

The Russian government will limit the work of Russian business in foreign markets, acting Prime Minister Mikhail Mishustin said at the consideration of his candidacy for the post of head of government in the State Duma.

"We do not intend to limit in any way the opportunities for local companies to work in foreign markets," he said.

According to him, there are no plans to introduce restrictions for foreign businesses wishing to continue working in Russia or start investing in the country. "Despite the ongoing pressure on our country, we do not plan to introduce any restrictions for those foreign businessmen who want to continue working with us or plan to come to Russia with new projects," Mishustin said.

He also stressed that the Russian government will increase the attractiveness of Russian jurisdiction for business. "We will continue to support the mechanisms of project and equity financing. We will increase the attractiveness of the Russian jurisdiction," he said.

State Duma approves Mikhail Mishustin as Chairman of Russian Government.

Mikhail Mishustin thanks Duma for approving his candidacy for prime minister’s office

Acting Prime Minister Mikhail Mishustin thanked State Duma lawmakers for approving his candidacy for the prime minister’s office.

"I would like to thank you for approving my candidacy," he said during the Duma meeting.

Mishustin pointed out the society’s consolidation "around the head of state and his development course."

"Despite our different views on many issues, today you have supported the president’s decision, first and foremost," he told lawmakers.


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Local Glob: Mishustin plans to increase volume of non-resource, non-energy exports by 2/3
Mishustin plans to increase volume of non-resource, non-energy exports by 2/3
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