Mishustin spoke about the growth of industrial production in May by 7%

Over the past four years, industrial production in Russia increased by 7%, in 2023 the positive dynamics accelerated and in May exceeded 7% in annual terms. About it declared Russian Prime Minister Mikhail Mishustin speaking at the Innoprom exhibition.

He noted that Russia managed to demonstrate a positive trend in industrial production despite the disruption of supply chains and unprecedented sanctions pressure.

“In March, the growth of this indicator was over 1%, in April – more than 5%, and in May it already exceeded 7% in annual terms. At the same time, the index of industrial production in the manufacturing industry increased by 12.8% in May,” Mishustin emphasized.

The prime minister named the machine-building complex as the main driver, which in May managed to almost double its output compared to May 2022. According to Mishustin, the automotive industry also has high performance. He also noted the accelerated growth in metallurgy and the chemical complex.

Mishustin called for achieving technological sovereignty in all critical industries without exception and reducing the impact of “unfavorable external conditions.”

“Let me emphasize that our future lies in the production of the entire range of our own high-tech products. Moreover, it must be competitive, not only within the country, but also abroad, which requires fundamentally new approaches and a completely different level of interaction between science, industry and the state,” the Prime Minister added.

In early July, Mishustin during a meeting with President Vladimir Putin declaredthat Russia’s GDP in 2023 could grow by more than 2%. GDP growth in May amounted to 5.4% compared to May 2022, and since the beginning of the year – 0.6%.