MarketsMinistry of Industry and Trade: Non-commodity non-energy exports have...

Ministry of Industry and Trade: Non-commodity non-energy exports have reached the bottom

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“We have already reached the bottom and mostly learned the consequences of the sanctions. Non-commodity non-energy exports have decreased by 16-18% and are expected to decrease further. This is a certain lower limit from which we will return,” said Osmakov.

According to him, the drop in industrial production amounted to 3-4% “due to restructuring in favor of the defense industry”. The deputy head of the Ministry of Industry and Trade noted that they expected an unemployment crisis in Russia, on the contrary, they experienced a labor shortage. According to Osmakov, this shows that the Russian economy is “adapting and the industry is looking for new growth points in new projects.”

He also drew attention to the difficult export of products due to sanctions, which is why the Russian authorities had to reduce the requirements for the indicators of the sale of goods in other countries during the state support. He emphasized that previously applicable conditions like “1-9” and “1-10” are no longer “applicable”.

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Source: rambler

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James
James
I’m a news writer for 24 Happenings, an online magazine that caters to people who want to know about things that are happening in the world. I grew up in the Midwest and have always been interested in writing. After trying out a few different styles of writing, I landed on my current genre – investigative journalism. When I’m not working on my next project or following my favorite team, I like to spend time with family or go for walks around my neighborhood.

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