Mon. Feb 17th, 2025

News – Russian Government


Deputy Prime Minister Alexander Novak took part in the open dialogue “100 questions about the future of Russia. Economics” at the National Center “Russia”.

The Deputy Prime Minister spoke about steps to achieve seven national goals in the economy until 2030, including increasing the well-being of citizens, increasing labor productivity, investment and the economy as a whole. The government pays special attention to measures to support businesses in various regions and industries, including small and medium-sized businesses, creative industries, tourism, agriculture and high-tech projects.

“Despite external shocks, sanctions pressure, closure of export markets, disruption of supply chains, our economy has shown sustainable development in recent years. The economy grew at approximately 12.7% from 2020 to 2024. Last year – plus 3.6%, this year we expect 3.9%,” Alexander Novak shared his forecasts. This is higher than the world average economic growth rate and higher than the growth rate of developed countries.

The Government, on behalf of the President, aims to achieve an increase in investment by 60% by 2030 compared to the 2020 level. In 2023, investments in the domestic economy increased by 9.8%. This year, over nine months, the increase was 8.6%. By the end of 2024, investment growth is expected at 7.8%.

Small and medium-sized businesses have made a large contribution to Russian GDP: this sector is developing at a rapid pace.

“According to last year’s results, the share of small and medium-sized businesses in our country’s total GDP was 21%. The number of small enterprises is growing noticeably. According to statistics, there are now 6.4 million enterprises in the country, employing about 19 million people, not counting the self-employed, of whom there are still approximately 11 million people. Therefore, we have 25 million people working in small and medium-sized businesses, that is, almost one third of the working population. This is a large sector, so its support and development is very important for our country,” emphasized Alexander Novak.

The Deputy Prime Minister added that support for this area will continue at the federal and regional levels through preferential loans, a favorable tax regime and other measures. The goal is to increase the income of those employed in small and medium-sized businesses by 20% above the economic growth rate.

The North Caucasus Federal District, which is supervised by Alexander Novak, is one of the leaders among Russian regions in terms of investment growth and the level of employment of citizens. The population growth rate in the Caucasus today is already 12 (while the national goal involves increasing the total fertility rate to 1.6) by 2030 on a nationwide scale.

Thanks to the implementation of projects in agriculture, apples grown in the North Caucasus Federal District have already completely replaced imports from Poland. Viticulture, sheep breeding and other areas are also actively developing.

The Deputy Prime Minister noted that among the regions that are leaders in the development of creative industries are Moscow, Nizhny Novgorod, Ivanovo, and St. Petersburg. In the capital, their share is 9–10% of GDP. On a nationwide scale, creative sectors account for 3% of GDP, and the goal by 2030 is to double this share.

In conclusion, Alexander Novak noted that by 2030 he sees Russia as a strong, sovereign, distinctive, self-sufficient country. “In 2030, Russia is a strong, powerful country. This is a self-sufficient country that does not depend on external factors, has the opportunity to develop independently, and has acquired technological sovereignty. This is a unique country with its own culture, history and nature,” he emphasized.

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