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Non-oil and gas export should become driver of economic growth in Russia — 1st Deputy PM

Andrey Belousov also noted that the task of putting the Russian economy on a path of sustainable growth is one of the key ones

MOSCOW, February 27. /TASS/. Non-resource and non-energy exports should become one of the drivers of Russia’s economic growth, First Deputy Prime Minister Andrey Belousov said this at the Russia International Exhibition and Forum as part of Entrepreneurship Day.

"Our non-resource and non-energy exports should become - this is a condition for our economic growth - one of the drivers of our economy. The growth included in the forecast - on the second stage, after 2027 - is more than 4% per year with GDP growth of 2.6-3% That is, more than one and a half times faster than GDP as a whole," he said.

Belousov also said that the task of putting the Russian economy on a path of sustainable growth is one of the key ones.

"We coped with the sanctions shock, the sanction blow, we overcame it. But this does not mean at all that we have entered the path of sustainable economic growth. This is the key task - to achieve sustainable economic growth, which was the goal for us before COVID and after COVID, before the sanctions and during the sanctions. Now this task is real as ever. Because without economic growth, approximately commensurate with the growth rate of the world economy, we will not be able to solve major social and defense problems," he noted.

Belousov noted that the forecast of the Economic Development Ministry regarding the growth rate of Russia’s GDP in the coming years is quite adequate.

"If we now take the forecast of the Economic Development Ministry, which I consider quite adequate, for the next six years, we can see that this six-year period is divided into two stages. The first stage of 3 years is the stage of restructuring with a growth rate of about 2% a year. Then we will enter such a growing path with an output of approximately 3%, however, exceeding the growth rate of the world economy, if we take it as 2.5%," Belousov said

The Russia International Exhibition and Forum is being held from November 4, 2023 to April 12, 2024. It was organized to demonstrate the country’s significant achievements in various economic sectors, and all 89 Russian regions are present with their displays. TASS is the general information agency of the forum.

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