Manturov: production in the manufacturing industry of Russia in 2022 will decrease by 6 percent

According to the results of the current year, production in the manufacturing industry of the Russian Federation may be reduced by 6 percent, said the head of the Ministry of Industry and Trade of the Russian Federation Denis Manturov during a speech in the State Duma.

"I'll be frank: we expect a change in the indicator associated with a drop in exports and the closure of Western markets. This will lead to a decrease in volumes in the most capacious industries, including metallurgy, the chemical complex and the timber industry. Therefore, for the whole year, even taking into account the tangible growth in the defense sector, manufacturing production could fall by about 6% this year," he said.

Today, according to the minister, Russia is overcoming another stage of trials and unprecedented external pressure. "We managed to contain the first blows and neutralize the negative consequences. And here I want to thank you for supporting the anti-crisis measures proposed by the government, which, in our opinion, worked very effectively," he addressed the members of the State Duma.

Thus, thanks to the anti-crisis measures proposed by the government, more than 700 backbone enterprises received preferential loans to replenish their working capital for almost 1 trillion rubles, the minister said. In addition, regional industrial development funds, which were created in 81 constituent entities of the Russian Federation, were recapitalized.

"Projects of reverse engineering and additional support for R&D are being developed throughout the industry. In addition to the approved comprehensive programs in radio electronics, aircraft manufacturing, and the automotive industry, a number of targeted measures have been implemented in other manufacturing industries," he added.

Source: https://tass.ru/