and good afternoon, friends, and deeply respected gentlemen presidents, and respected colleagues, dear friends, and i have been given a great honor, i have been given great pleasure,

for the independence of my homeland, my homeland, i spent 10 years in one prison, two in another , survived, had two death sentences, when he became president, he overturned the death sentence of his system. we will be very interested, of course, if mr. nanago tells us about the experience that he can share with us, the country has been under sanctions for very many years, because they dared to nationalize the property of the white colonialists, mr. luis arce, an outstanding economist, descendant. people who fought

together with the great simon bulevar for the independence of their homeland, so he has a slightly less dramatic fate, but also absolutely magnificent and full of the drama of victories. in addition, he was for many years, a decade and a half, the country's minister of economy and finance, during these years his country doubled its gnp by 3 seconds... we will also be very interested to know his experience, of course, and of course, i think , what no...

we fought almost hopelessly, at some point god had mercy on us, now vladimir vladimirovich, you have an equally difficult task, not only to win, but to save the world, which, which is rolling and which is being brought down to the world war, but for now we’ll probably talk about something else. vladimirovich, please.

good afternoon, dear friends, colleagues, dear mr. abse, dear mr. mnangaba, dear guests, friends, ladies and gentlemen, i am very pleased to welcome you all to the twenty-seventh st. petersburg international. economic forum. this year , over 19,000 people from more than a hundred countries around the world became its participants and guests. these are shareholders and managers of leading companies, recognized experts and analysts, political, public, and government figures. traditionally, the forum in st. petersburg provides an opportunity not only to establish business contacts, agree on cooperation or launch promising projects. but in

an open discussion, exchange views on current trends in global and regional markets, through the prism economic relations, look at the processes that are dynamically... developing in the modern world, we see how a real race has emerged between countries to strengthen their sovereignty, and at three key levels: state, value-cultural and economic, while countries that until recently, they acted as leaders of global development; they are trying with all their might, by hook or by crook, to maintain their elusive role as hegemons. in general , there is nothing unusual here when...

technological growth in almost all spheres of life, it seriously changes management, production processes and even entire industries. it is obvious that those countries

that not only produce new solutions, but are able to ensure their rapid, advanced implementation, will be able to take full advantage of technological progress. russia has proven a high level of readiness and receptivity. to technological transformations, we see how our financial sector, e-commerce, transport services, public administration system have already changed, similar processes are beginning to unfold in the armed forces, where we also need a high rate of technological renewal, this is the most important, defining issue for our country, i am sure in modern conditions, in the long term the role, weight, and, i will say more, the future of states depends on how they will be able to effectively respond to global challenges, realize internal potential, use their competitive advantages and mitigate weaknesses,

maintain and strengthen partnerships with other states. in february of this year, during the address to the federal assembly , the key directions and priorities for the development of russia were outlined and formed. a comprehensive transformation program beyond the end of the current decade. the format of the forum allows us to focus specifically on the economic agenda of our development, on those qualitative, structural changes that are taking place in our country, and which we intend to actively support in a targeted manner, to unite financial, personnel, organizational support around them. resources, both at the federal and regional level at the municipal level...

and illegitimate sanctions, russia remains one of the key participants in world trade, is actively developing logistics, the geography of cooperation, this is how our relations with asian countries are strengthened, an increase of 60%, from twentieth to twenty third year in the middle east, doubled growth, africa 69%, latin america 42, i guess. my respected colleagues, guests of our forum , the presidents of bolivia and zimbabwe, will touch on this topic in their speeches. overall, the share states friendly to russia, and as we see, this is precisely what we should pay attention to first of all, rapidly growing,

to pay attention to the economies of rapidly growing states, this is ahead, they will have to determine the future in the global economy, today it is already their shares. 3/4 of our turnover. we continue to work effectively with our eu partners, ensuring a balance of interests of all participants. in past. year, the total gdp of the union countries grew by 3.8%, and the volume of mutual trade by 4.7%, and its structure has improved qualitatively, namely the supply of finished high-tech products has increased. it is precisely this kind of export, not raw materials, not energy, from russia that we will actively support; by 2030 its volume should increase. by less than 2/3 compared to 2023, and we are not just talking about

an increase in export supplies in tons, in cubic meters, in units of finished products, but we are talking about high value-added goods, and not only about the entry of russian companies into new global markets, we are talking about expanding the geography of cooperation, all this is important, but today... it is not enough, we are ready to offer other countries full-scale technological and industrial partnerships, including ensuring the full life cycle of goods and services with the training of national personnel, localization of production, engineering support, technical services, insurance, and so on. this approach to cooperation on equal terms, the transfer of technologies and competencies, and not... monopolization allow us to establish stronger ties between states, increase

the stability of the position of our companies in global market, give them the opportunity to work with foreign partners for a long time, this is exactly how one of our leaders, namely the rosatom company, the undisputed leader in the global nuclear industry, acts with great prospects for the future. it is obvious that the development of new markets requires strengthening transport links. so, in the eastern direction to china, to the countries of the asia-pacific region, the main project for us is the development of the so -called eastern railway range . the parameters were approved in april the next, already third stage of its modernization. by 2030, the carrying capacity of the eastern range. railways should increase to 210 million tons, by 2032

to 270 million tons. we will pay special attention to the southern direction; plans for the development of the international north-south corridor, as well as a corridor in the azov-black sea direction, have already been approved. the northern sea route is becoming a popular global artery. last year 36 passed through it . in this regard, we will form a commission within the state council for the development of the arctic regions and northern sea route. it is predicted that by 2030, the volume of traffic along international

transport corridors through russian territories will increase by one and a half times compared to 2021, primarily due to the increased competitiveness of these routes, their convenience for business and for carriers. a separate issue, important for both exporters and importers, is the development of cross-border payment. infrastructure, it is no secret, of course, that reliability and trust in western payment systems have been fundamentally undermined, and western countries themselves, in this regard , i note that last year the share of payments for russian exports in the so-called toxic currencies of unfriendly states was halved, while the share of the ruble in export and import transactions is growing, it is today approaching...

iran, united arab countries emirates, egypt and ethiopia. thus, the share of our association in global gdp has increased to 36%. and in the world's population up to 46%. new members.

we will continue to develop relations within the brix not only in the field of economics and finance, but in the field of security, humanitarian cooperation in other sectors, we will act taking into account global challenges and objective trends and emphasize the growing capabilities of national economies. in this regard, about the second significant structural change, this is the achievement of a new quality and content of economic growth in russia, changes in the sectoral structure due to the active policy of supply-side economics. at the end of last year, as you know, russia's gdp growth was 3.6%, and in the first quarter

of this year - 5.4%. that is, our pace exceed the world average, it is especially important that such dynamics are determined primarily by non-resource sectors, in the twenty-third year, for reference, i can also clarify, gdp growth was ensured by 45.5% by basic sectors, as i said, this is manufacturing, construction , logistics, communications, sit down...

germany, japan, the difference is small, we are ahead, but the difference is small, but we understand that leadership positions need to be constantly confirmed, strengthened, other

countries also do not stand still, it is important to us ensure consistently high rates and quality.

the share of russian imports reached 26% of gdp, in the twenty-third it amounted to 19% of gdp or 32 trillion rubles, that is, as i already said, the dynamics are absolutely clear and positive. let me emphasize that the share of imports should be reduced, of course, not due to administrative barriers, but thanks to our own competitive production. ready to meet domestic needs for products from the manufacturing industry, agriculture, services, it, and many others industries. we can name many successful examples of such a strategy, for example, in the agro-industrial complex we have created a modern meat industry, its capacity

has almost doubled in 15 years. today russia ranks fourth in the world in meat production and is increasing the supply of these products to foreign markets. well, by the way, russia has achieved 100% meat supply. own products, meat consumption in russia in 2023 , last year updated the record and exceeds 80 kg per person, but for comparison in the world, on average, it is 42-43 kg per person, i would like to repeat, our country can produce more consumer goods, machines, equipment, vehicles, medicines and so on. to do this, it is necessary to launch new projects. create modern jobs, and everywhere in all regions of the country. by 2030 , investment in fixed assets should add 60% in real terms to the

2020 level. but - we are all literate people here, all specialists understand that such investment in fixed capital, what it leads to, what it creates, what prerequisites it creates for future development in the medium and longer term. in recent years, in general, i want to emphasize, in general, everything has worked out well in this, in this most important area, in 2021 the plan was 4.5% investment growth, in reality it was 8.6%, in the twenty-second year the plan 9.5, actually 15.9%, according to the twenty-third plan 15.1%, in fact it turned out... 27.2%, that is, almost twice the plan, but this very, this is a good indicator. of course,

investment activity must be provided with resources. i have already said that we will allocate additional funds to the development of industrial mortgages, almost doubling them, we will increase the industrial development fund, and we will increase the capabilities of such an instrument as a factory. project financing of the development institute of the world bank of russia, with its help projects worth more than two trillion rubles are already being implemented. i propose to gradually increase the limits of the fund at the first stage , we will increase it to 600 billion. this will allow additionally support real sector projects worth up to 6 trillion rubles. an important task is to increase the volume of the bank. for this purpose, we will further customize the so-called taxonomy of similar

projects, that is, a system of priorities to support increased investment in key industries and technological projects aimed at structural changes in the economy, we will increase the number of projects that such a system will cover, so that will attract additional resources for their... implementation, the state is ready to share risks with investors, a fund of funds for promising industrial and infrastructure projects has already started operating, we discussed its parameters for a long time, there were disputes in the government, we coordinated this with the business community, those who took an active part in this know that they are in in this room, private investors are actively investing in the russian economy, with the russian direct investment fund, this is another area of ​​work. bills are currently under consideration in the state duma which will allow expanding the mechanism of

public-private partnership to industries and the space sector. i ask you to adopt these regulations as soon as possible. and also, to support investment activity, naturally, it is necessary to develop the capital market and increase it. its capacity, attractiveness for business, investors, and of course, paying special attention to the safety and profitability of citizens’ funds invested in these assets. today in our country there are almost 30 million retail, so- called retail investors, well, that’s citizens, the total volume of their assets over the year increased by one and a half times and amounted to more than 9 trillion rubles. at the same time, the demand for placement of shares of russian companies has been stable during this time. exceeded the offer. the task has already been set: by the end of this decade, the capitalization of the russian stock market should approximately double and

amount to 2/3. i ask the government, together with the central bank, to propose additional measures to encourage companies to enter the stock exchange with their securities, including the need to think about reimbursement of initial public offering costs for small technology companies. this is a call to the ministry of finance, to the central bank, the costs of companies, including those associated with bank transactions with...

but now, taking into account the labor shortage, this will be appropriate and will even benefit the enterprises themselves, it will keep workers at home. i will add that this year a new instrument will be introduced: a savings certificate, it will allow citizens to place funds in banks for a period of more than 3 years, and under a higher percentage than on a regular deposit, although now the deposit is quite solid,

so... our leading financial institutions are also pushing this bar higher and higher, i don’t know whether this is justified or not, well, well, for deposit holders this is of course a plus , this is understandable, but i wouldn’t want you germanovskich, together with andreemdich, to suck everything out of other banks like a vacuum cleaner, well, we’ll talk about this later, from january 1, 2025 , shared life insurance for citizens will be launched. what's it about meaning: citizens' insurance premiums will be able to be invested in more profitable assets, in shares, to bring benefits to the insurance buyer, that is, the principle of classical insurance and investment is combined here, and in order to additionally guarantee the return of these funds, i propose here to provide state insurance in the amount of 2,800 for long-term savings .000 rub. further today. in the regions

there is an investment tax deduction mechanism, it allows companies that invest in development to reduce tax on profit. starting this year, the deduction is tied to projects of technological sovereignty for structural adaptation of the economy. this makes it possible to manage the quality of investments and stimulate capital expenditures in priority areas. i ask the government to make the deduction possible. apply not only within one company, but also a group of companies, and also provide additional resources for the mechanism for financing the replenishment of tax deductions. in this regard, let me remind you of the decision already made, namely, the regions will be able use part of the funds released after

writing off the budget to cover your lost income due to the investment tax deduction. loans, the ministry of finance nevertheless took this step, i think it is justified in modern conditions, it will help all active participants in economic activity, i will say more about this later. in addition, i am confident that the regions will support investors directly through their budgetary capabilities, and these are also growing in the regions. let me emphasize that what i said concerns the investment tax deduction for the subject. federation, in addition to it , a federal deduction will be introduced as part of the reconfiguration of the tax system, the purpose of which is to stimulate business investment in development, achieve greater social justice and reduce inequalities between citizens. in the near future, together with business associations, it is necessary to determine such parameters and volumes of the federal investment deduction so that it becomes...