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All news / Russia isuccessfully substitute import products in a number of industries

  • 21 Jun 2024, 10:20

Russia isuccessfully substitute import products in a number of industries, Prime Minister Mikhail Mishustin said at a meeting of the Russian government.

“In almost every industry today, a state import substitution program is actively being implemented, which is aimed at creating sustainable economic sovereignty. There are significant results in the energy sector, in the aviation industry, in the food industry, in shipbuilding, and in the field of mineral fertilizers,” he said.

As Mishustin stated, food production has been effectively organized, which allows the country to provide itself with grain, vegetable oil, fish, meat, potatoes, milk, vegetables and other types of food.

“We will continue to implement measures aimed, inter alia, at reducing the administrative burden, increasing the number of small and medium-sized enterprises, maintaining stability in commodity markets and the economic justification of tariffs. All this will contribute to the further development of competition in the country,” he is confident.

The Prime Minister noted that last year the national economy continued to adapt to changing global market conditions and increased its resistance to sanctions and external shocks. According to him, timely legislative changes and joint efforts of the government and the Central Bank helped reduce risks in the financial sector, support business and increase the capabilities of the domestic market, stabilize prices for a number of socially important goods, and prevent shortages.