UPDATE: Putin orders govt to raise processing industry '23 output

(adds details in last paragraph)

MOSCOW, Jan 27 (PRIME) -- Russian President Vladimir Putin ordered the government on Friday to raise output of the processing industry and its share in the gross domestic product (GDP) in 2023, the Kremlin said.

Investment in the priority industrial products output are envisaged at least at 2 trillion rubles in 2023 and at least at 10 trillion rubles until 2030.

The president ordered to pay special attention to technological and financial sovereignty, while cooperation with partners from the friendly states should be extended.

The deadline for the reports was scheduled for March 1, after that, reports are slated once a month.

Putin ordered to ensure co-financing of supplies of at least 700 Russian jets until 2030 and leasing on beneficial terms of 260 civil ships made in Russia until 2027. The report is slated until April 15.

He ordered the government and the central bank to raise the amount of long-term savings and investment in the financial market, to raise investment in the shareholder equity on the financial market, including for infrastructure and industrial projects.

The report is slated for March 1, afterwards, the reports are will be done once a month.

Putin ordered the government to amend legislation in order to create incentives, including tax cuts, for long-term savings of households. He also ordered to raise the minimum wage at a rate offsetting inflation and the average monthly salary growth rate. The deadline for the reports is July 1.

(69.1263 rubles – U.S. $1)

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