Siluanov Names New Growth Drivers for Russian Economy

Siluanov identified points of economic growth for Russia at a meeting of finance ministers in the USA.

Consensus

Anton Siluanov spoke at the G20 meeting of finance ministers and central bank governors in Asheville, USA.
Siluanov identified platformization, automation, and AI as new growth drivers for the Russian economy.
Siluanov cited economic decarbonization and import substitution as new growth points.
Import substitution spans from agriculture to high-tech products.
The reduction of mandatory approvals in the construction sector by two-thirds contributed to sectoral growth.
Russia applies a rule requiring each ruble of tax incentives to generate at least one ruble of private investment.
The 'budgetary lever' mechanism is used to attract private capital.
Efforts are underway to strengthen the financial market and promote long-term household savings.
The meeting took place on August 31 and September 1 in Asheville, USA.

Siluanov emphasized that old growth sources are gradually being exhausted, urging other countries to seek new ones. — kommersant
Siluanov noted that adapting economic policy to changing conditions is necessary for the growth process. — vesti