Andrei Belousov, the First Deputy Prime Minister of the Russian Federation, has described a sustained monthly growth in the sectors dedicated to import substitution, estimating an average of 5 to 7 percent. This figure reflects the combined effect of targeted industrial policy, accelerated modernization, and the deliberate shift away from dependence on overseas suppliers. Belousov, speaking to a broad audience, underscored that the momentum is particularly evident in segments tied to equipment manufacture and the production of goods for daily life, where localization and domestic capacity expansion play central roles. The trend, he noted, becomes clearer when seasonal fluctuations are stripped away, revealing a robust, underlying rise in output across these critical sectors.
Belousov also highlighted non-oil and gas revenues as a signpost of broader economic vitality. The export profile beyond energy commodities is strengthening, with non-resource sectors contributing more assertively to the country’s external earnings. This diversification signals that Russia’s non-resource exports are advancing at a commendable pace, supported by measures aimed at improving competitiveness and expanding market access for domestic products.
In outlining the trajectory, Belousov stated that the economy is growing at a notably rapid rate. He emphasized that the growth is not a mere blip but a pattern aligned with the government’s strategic goals. The emphasis on import-substitution sectors — notably mechanical engineering and the production of essential consumer goods — points to a deliberate policy orientation: bolster domestic production capabilities, reduce vulnerability to external supply chain disruptions, and strengthen the economy’s resilience to shocks.
Beyond current performance, Belousov discussed the concept of economic sovereignty as a guiding framework for policy. He argued that Russia has reached a stage where the state can effectively implement a national development agenda and pursue ambitious goals with greater confidence. The assertion rests on a set of seven conditions that Belousov associates with sovereignty: access to domestic resources for growth, self-sufficiency in essential inputs, reliable infrastructure, sound and trusted institutions, strategic position in the global economy, macroeconomic stability, and sustained social development. Each element is presented as a pillar that supports long-term independence and prosperity in a challenging international environment.
Reflecting on recent external pressures, Belousov asserted that the Russian economy possesses resilience in the face of sanctions. The ability to adapt, reorient supply chains, and mobilize domestic production capacity is viewed as a crucial factor in maintaining steady growth and safeguarding economic security. The overall message emphasizes a shift toward more autonomous economic management, complemented by a strengthened export base and continued investment in competitive manufacturing sectors. This approach, according to the deputy prime minister, is designed to ensure Russia’s development path remains steady even amid external headwinds and geopolitical uncertainties.