Medvedev told Putin about the growth of non-oil revenues to 64%


Prime Minister Dmitry Medvedev reported during a meeting with President Vladimir Putin on the growth in non-commodity component in the revenue side of the budget and expressed confidence that the government will support this trend. This is stated on the official website of the Kremlin.

“Regarding the income, also, I think, very gratifying: we have over the past year, almost two-thirds, in other words 64% of income is generated through non-oil sources, the so-called non-oil revenues,” — said Medvedev. According to him, this means that “changing the structure of the economy” of Russia.

Medvedev stressed that the growth of non-oil revenues associated with fluctuations in oil prices. “This year, a little oil is growing, and this structure (the revenue side of the budget .) slightly changed, but overall the vector is clear: non-oil revenues are rising, commodity revenues are reduced,” — said the Prime Minister and added that this is the direction of development the government is “obliged to support”.

In General, according to Medvedev, Russia’s economy has entered a stage of growth. According to him, the average growth of industrial production in Russia amounted to 1.3%, and for individual sectors shows “impressive” growth. In particular, Medvedev cited the example of the pharmaceutical industry and agriculture. According to him, currently 70% of essential medicines produced in Russia, but in General, the pharmaceutical industry grew by nearly 24 percent.

Medvedev also believes that “a positive situation” has developed in agriculture, where growth for 2016 was 5%. “I think this is the consolidated result of the work of the authorities, say, the last 15 years, because our agriculture is radically changed,” he said.

Medvedev explained that agriculture “feeds the whole country” and has “a huge export potential.” In addition, added the Prime Minister, agriculture is developing due to modern investments and helps the development of related industries — particularly agricultural engineering.

According to the Prime Minister, “not bad” assessment of the Russian economy is confirmed by the findings “of a number of analytical agencies”, which suggests that ” with a fairly complex scenarios, our economy goes to the positive scenario.”

According to the Finance Ministry, in 2015, oil and gas revenues amounted to 57.1% of budget revenues, and Neftegazovye is 42.9%. In 2014, the share of oil revenues was 51.3% and non-oil and gas — 48.7 per cent.

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