PM: Russia has to learn to make money on non-oil, gas exports

MOSCOW, Mar 28 (PRIME) -- External restrictions, including political ones, leave Russia no other choice than to learn to make money not only on energy resources, but on non-oil and gas exports as well, Prime Minister Dmitry Medvedev said on Wednesday at a panel meeting of the Economic Development Ministry.

“Russia’s economy is developing under high external risks, including changes in oil prices and different political restrictions that were imposed on our economy and on our country as a whole. It is obvious that we have to learn to make money not only on raw materials and energy resources, but to learn to trade in goods with high added value and to export services, including education, healthcare, tourism,” he said.

“So the task of full-scale development of non-resource and non-energy exports is as relevant as ever.”

Russia also has to continue improvement of its business climate even despite recent introduction of tax preferences and reduction of the administrative burden on businesses, Medvedev said. “This is still not enough. It is obvious that we need mechanisms connected to direct support from the state, to support of small and medium-sized businesses in particular,” he said.

The Russian government plans to make a report on its work not just for 2017, but for the past six years to the parliament’s lower house State Duma on April 11, he added.

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