Putin assured that Russia is not going to produce everything on its own

President Vladimir Putin said that Russia will not fence itself off from the world economy and produce everything on its own. According to him, it is necessary to ensure “self-sufficiency” in critical areas of the economy.

“Of course, we are not going to fence ourselves off from anyone, from the world economy, especially from promising centers for the development of the world economy. This does not mean that we must always produce at home at any cost. Nothing like this is in our plans. We will remain a significant part of the global economy as a whole,” the president said at a meeting with the heads of the CIS and EAEU delegations.

“But on critical issues, of course, it would be better for us to be independent. Self-sufficiency is the basis of sovereignty,” the president said.

By evaluation Center for Market Research of the Institute for Statistical Research and Economics of Knowledge, National Research University Higher School of Economics, Russian production is experiencing an acute shortage of domestic equipment comparable to imported in quality. Thus, 65% of Russian enterprises have the potential to produce import-substituting products (25% – high, 27% – medium, 13% – low). Experts interviewed more than 1,000 enterprises in 30 constituent entities.

The leaders in terms of import substitution potential were manufacturers of medicines (50% have a high level), machinery and equipment (40%), electrical equipment (35%), plastics (34%), cars (33%), textiles (32%), computers, electronic and optical products (30%). The performance of enterprises in the field of mining (8%) and equipment repair (9%) is worse.

Anastasia Larina