MOSCOW, November 5. /TASS/. Import substitution sectors of the Russian economy are demonstrating 5-7% monthly growth, Russian First Deputy Prime Minister Andrey Belousov said on Sunday.

"The high dynamics of the non-oil and gas revenues mean that our non-raw material exports are developing quite rapidly," he told journalists on the sidelines of the International RUSSIA EXPO. "Our sectors that ensure import substation are growing very dynamically, by 5 to 7% a month minus the seasonal factor. These are sectors linked with the production of equipment, first of all, machine-building, and sectors linked with the production of good of temporary use for the population."

According to Russia’s finance ministry, the country’s non-oil and gas revenues amounted to 14.158 trillion rubles (154.132 billion US dollars) in January-September 2023, or by 26% up on the previous year.

Russian Prime Minister Mikhail Mishustin said earlier that the government expects non-oil and gas budgetary revenues in 2024 to be twice as high as those from raw materials.

"It is often said that our growth comes from the defense sector. This is not so. I think this is half true. Indeed, the defense sector is growing quite rapidly and is driving related sectors - metallurgy, chemistry, and a range of other industries," he said.