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Growth in domestic financing becomes key structural shift in Russian economy — Novak

The Russian deputy prime minister also noted that state-owned companies continue to account for a significant share of investment, with the five largest companies responsible for more than 15% of total investment

MOSCOW, August 19. /TASS/. The key structural shift in the Russian economy has been an increase in investment financing from domestic sources, replacing external financing, Russian Deputy Prime Minister Alexander Novak said at a meeting of the Council for Strategic Development and National Projects.

"The key structural shift is that we have begun financing more investment from domestic sources, replacing external financing. At the same time, the share of intellectual assets in the investment structure has increased significantly to 7%, while the role of public investment has declined, with its share falling to 15.4%," he said.

Novak also noted that state-owned companies continue to account for a significant share of investment, with the five largest companies responsible for more than 15% of total investment. "This trend in the investment structure will continue in the coming years. With this in mind, we have begun work on launching a new investment cycle," he said.