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Friday, July 21, 2017

Import substitutions and export support to come to Russia in 2015

The Russian Federation will allocate 38 billion rubles in order to fix imports by making substitutions from 2015-2017, the Eurasian Development Bank said Friday.

This is a key issue facing the country, Finance Minister Anton Siluanov said .

“In the current conditions, import substitution and support of exports are one of the key (issues)," Siluanov said. "We’ve envisaged additional funding of 38 billion rubles in the next three years, plus the funds from the (state) programs’ redistribution.”

By doing this, the country will be able to supply industries such as defense manufacturing.

In addition to import substitution, the government will allocate an additional 44 billion rubles to support exports of non-raw materials.

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