The Russian economy will be able to achieve sustainable GDP growth by 2030 – Kommersant

The economic solutions contained in the President’s message will allow the Russian economy to achieve sustainable GDP growth with an acceleration of 3% by 2030. This was announced by Minister of Economy Maxim Reshetnikov on the sidelines of the ministerial conference of the World Trade Organization (WTO), held in Abu Dhabi.

“The powerful framework of economic decisions, which has now been voiced in the message and will be included in the action plan, is saturated with resources, will help maintain the positive dynamics that currently exist, with economic growth reaching 3% by 2030. We will present the final figures on dynamics in April,” the minister told reporters (quoted by Interfax). Maxim Reshetnikov recalled that in 2024, GDP growth is projected to be more than 2%, but the department will present exact figures in April, when it analyzes the data for the beginning of the year.

According to the minister, the President’s message to the Federal Assembly presents a comprehensive program for six years, which outlines the main courses for the development of the Russian economy. “This is all about the development of supply-side economics, this was just a track related to the national project of technological leadership, a fairly large agenda has been announced,” said Mr. Reshetnikov.

He also noted the importance of supporting Russian domestic tourism and the mechanism proposed by the president to support the regions. “This includes debt write-off, provided that the regions will direct funds to support infrastructure – this is essentially a continuation of the 1704 mechanism (what the regions asked for), and infrastructure budget loans – reinvestment of what the regions will return through this line and new funds” ,” summed up the Minister of Economy.

On February 29, Russian President Vladimir Putin addressed the Federal Assembly. In his speech, the President statedthat all new national projects announced in the message must be approved by the end of the year and coordinated with each other. He also proposed drawing up a six-year economic development plan, rather than a three-year one.

Read more about the economic development program in the material “Of yourself and demand”.

Alexandra Goroshilova