"We will produce everything ourselves." Putin promised to rid Russians of imported medicines, goods and equipment.
The Russian economy must independently supply citizens with the necessary goods, President Vladimir Putin said on Thursday.
According to him, domestic products instead of imported ones should increase their share in all key segments. "In our domestic market, the share of domestic goods should increase: equipment, machine tools, vehicles, medicines, consumer goods," Putin listed, speaking at the congress of the Federation of Independent Trade Unions of Russia.
"We can and will produce all this ourselves, in much larger volumes than now," RIA Novosti quoted the president as saying.
Reducing imports to 17% of GDP will require the abandonment of a significant part of imported goods and services, says Dmitry Polevoy, investment director at Astra FM Dmitry Polevoy: for this, production chains and final output will have to be reformatted.
So far, import substitution is successful in agricultural products and food, but there is much less success with goods with high added value, Polevoy states. Last year, according to the Central Bank, $303 billion worth of goods were imported into Russia, which is close to record highs before the annexation of Crimea ($318-341 billion in 2011-13). Purchases of machinery and equipment abroad increased by 24%, and clothing and footwear by 21%.
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Great ideas, bunker dwarf. Perhaps you can start with designing agriculture machinery that doesn't require the user "to be at the same time a welder, a mechanic and an athlete in order to be able to work with it", as one of the farmers complaint who said that he had to go back to domestic machines. Or at least start with fulfilling the promises you made before throwing more around?
@freerussia_report