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Rostec may stop exporting high-tech products

According to CEO Sergey Chemezov, the record level of the key interest rate is a serious brake on further industrial growth

MOSCOW, October 23. /TASS/. Rostec may stop exporting high-tech products due to the record level of the key interest rate, CEO of the state corporation Sergey Chemezov announced during a plenary session of Russia’s Federation Council.

"At such interest rate, all profits are eaten up by the interest we are forced to pay to the bank. Therefore, the question today is: either we stop all exports of high-tech products - aircraft, air defense systems, ships, etc. - everything that takes a year or more to produce, or we have to do something," Chemezov said.

According to him, the record level of the key interest rate is a serious brake on further industrial growth.

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