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Russia plans to double share of SMEs in GDP structure by 2030 — ministry

The ministry expects the volume of small and medium-sized enterprises to increase by 150% by 2030 compared with 2014 in real terms

© Sergei Fadeichev/TASS

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Russia’s current account surplus rose by 12.7% to $65.8 bln in 2015 — Central Bank

MOSCOW, January 19. /TASS/. Russia’s Economic Development Ministry expects the share of small and medium-sized enterprises (SMEs) in the country's GDP structure to double by 2030 despite the economic downturn, Deputy Minister Oleg Fomichev said at a forum organized by OPORA-Russia on Tuesday.

"The targets are ambitious, particularly given the current economic environment. If we speak about a general target, which we’d very much like to meet though all our calculations show that it’s difficult to reach, it implies doubling of the share of small and medium-sized enterprises in GDP — from 20% to 40%," he said.

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According to Fomichev, the ministry bases its draft strategy of development of small SMEs till 2030 on these targets. The government decided to review the document by developing the conceptual part with state policy targets till 2030 and "a roadmap" with particular efforts for the nearest 2 years.

Also, the Economic Development Ministry expects the volume of small and medium-sized enterprises to increase by 150% by 2030 compared with 2014 in real terms. "This also implies doubling of the volume per one employee in the sector versus 2014, almost doubling of share of manufacturing industry in the SMEs structure and increase of the share of those employed in small and medium-sized enterprises from 25% to 35%," Deputy Minister said, adding that the sector will reach a whole new level in case target indicators are met.

The concept till 2030 embraces 8 blocks of focus areas to develop SMEs in Russia, Fomichev said, which are aimed at formation of market niches for business, technological development, available financing, predictability of fiscal burden, state regulation, territorial development and personnel.

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Economy Economic Development Ministry

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