ST. PETERSBURG, June 7. /TASS/. Russia should reduce share of imports not through protective measures, but through the growth of its own production, President Vladimir Putin said at the plenary session of the St. Petersburg International Economic Forum (SPIEF).
"The share of imports should be reduced, of course, not by means of administrative barriers, but thanks to our own competitive production, which are ready to meet domestic needs for products from the manufacturing industry, agriculture, services, IT, many other industries," the head of state said.
He set the goal of reducing the share of imports to 17% of GDP by 2030.
"In principle, our dynamics are good. In 1999, the share of Russian imports reached 26% of GDP, and in 2023 it amounted to 19% of GDP, or 32 trillion rubles ($357 bln)," the president noted.
He said that Russia can and will produce more consumer goods, machines, equipment, vehicles, medicines and so on.
"To do this, we need to launch new projects, create modern jobs, everywhere, in all regions of the country," he stressed.
According to the president, by 2030, investment in fixed assets should add 60% in real terms to the 2020 level.
"All the people here are literate, [they are] all specialists, and they understand what investment in fixed capital is, what it leads to, what preconditions it creates for future development in the medium and longer term. In recent years, in general, we have succeeded in everything in this important area good," he said.
Putin cited data that in 2021 there was a plan for investment growth of 4.5%, but in reality the growth was 8.6%. In 2022, the plan was 9.5%, in reality it turned out to be 15.9%. In 2023, the plan was 15.1%, but in reality it turned out to be 27.2%.
"That is, it is almost two times higher than the plan, and this is a good indicator," he noted.