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Russia: Import substitution calls for 40-50 billion rubles annually

The majority of product positions will be fulfilled in the next five years.

17.Aug.14 3:40 PM
By Mihail Prygunov


Russia: Import substitution calls for 40-50 billion rubles annually
Russian Deputy Minister Arkadiy Dvorkovich who is in charge of agribusiness development said that import substitution program will need 40-50 billion rubles annually. This will help to fulfill the majority of food products in the next five years. 25 billion rubles are already spent on current programs. The same amount will be necessary for implementing and supporting new programs. Ministry of Agriculture calls 60 billion rubles. However Dvorkovich thinks that 60 billion is more than enough. He noted that this program has already been approved by the Prime Minister. Approval of the President is left as it can lead to changes in budget.

The program is mainly connected with greenhouse production, cattle rising and milk production.

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