MOSCOW, April 14. /TASS/. Import volumes will stand at 15% of Russia’s GDP by 2026, a representative of the Economic Development Ministry told reporters.

"The total import volume dynamics suggests that it will stand at 15% of GDP by 2026, increasing to 15.2% this year, and later adjusting to 15%. Considering the government’s policy, we believe that the main focus will be particularly on boosting domestic production and substituting products made by foreign companies," he explained.

According to figures provided by the national statistics service, Russia’s GDP contraction totaled 2.1% in 2022. Earlier, GDP contraction in Russia was expected at 0.8% this year, according to the Economic Development Ministry’s official forecast.