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Putin instructs cabinet to ensure Russia’s entering top four of largest economies by 2030

The government must report to the head of state on the progress by March 31, 2025

© Mikhail Metzel/Russian Presidential Press and Information Office/TASS

MOSCOW, April 1. /TASS/. President Vladimir Putin has instructed the government to ensure Russia’s entry into top four of the world’s largest economies in terms of GDP at purchasing power parity. The list of instructions given by the President following his address to the Federal Assembly in February is published on the Kremlin website.

The government must report to the head of state on the progress by March 31, 2025, and then make annual reports.

In particular, the President instructed the government to increase the level of gross added value in the manufacturing industry by at least 40% by 2030 compared to 2022, reduce the share of imports in GDP to 17%, and increase non-resource and non-energy exports by at least two-thirds. The government should also gradually reduce the number of regions with low fiscal capacity, the text of the order says.

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