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Russia Makes Serious Steps in Import Substitution - Putin

© Sputnik / Anton Denisov / Go to the mediabankCheese blocks are washed and put into the cheese maturation storage at the Russky Parmezan cheese factory in the Istra Region of the Moscow Region.
Cheese blocks are washed and put into the cheese maturation storage at the Russky Parmezan cheese factory in the Istra Region of the Moscow Region. - Sputnik International
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Vladimir Putin said that Russia had taken serious steps on import substitution.

A view of Moscow City international business center - Sputnik International
Russia
Year in Review: 2016 Lifts Veil on Russian Economy After Import Substitution
MOSCOW (Sputnik) — Russia has taken serious steps on import substitution, while real structural changes have occurred in some industries, Russian President Vladimir Putin said Friday.

"The so-called import substitution brings results. As regards production, our import decreased by 10 percentage points. It used to be at the level of some 49 percentage points, an now it's 39 percentage points. We've made very serious steps on import substitution in a number of industries: pharmaceutical, chemical, light industry, and I'm not talking about the heavy engineering. The road equipment is almost 100 percent Russian. Some major changes have happened there. I'm not talking about defense. Serious internal structural changes, especially in this field is something extremely important to achieve technological independence," Putin said during the annual press conference.

"I have no doubt that we will achieve the desired result," he added.

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