during the same time, that is, over the last year and a half, the number of trademarks that belong to russian companies has increased by more than a third, which indicates that investments in projects for the production of such products in the creation of new enterprises and work places throughout the country are profitable and profitable, so for 9 months of this year the profit of large medium-sized companies in the real sector... 26 three rubles. it turned out to be about a quarter more than a year earlier. this is a good indicator. business he doesn’t just earn a profit, he invests in development, which means he believes in the prospects, in the future of our economy. in the second quarter of this year, investments in fixed capital increased by 12.6%. and in the third quarter it was already 13.3%. investments. they will

melt, what does this mean, well , everyone present understands perfectly well what this means, it means that conditions are being created for future development for the medium term, this is an obvious thing, it is imperative to support growing business activity and, above all, ensure accessibility financial resources for business, for those areas that cover the needs of the domestic market and export demand, i know that there will now be talk about rates... well, colleagues will discuss among themselves in front of your eyes, this will be useful and indicative, but i want that to say, yes, there are always such disputes, where is the stake, where is the business activity, everything is clear, but the numbers that i spoke about indicate that , in general, this is the necessary direction of development in decision-making, it is, in general, by the financial,

economic authorities of the country, it is everything -yes is located, and it is being built in general in the right direction, the main thing is that conditions are being created for an effective structural transformation of our economy, to increase labor productivity and increase the income of citizens, improve the quality of life, this is also a very important indicator of income growth, which means wages in real salary. by 7%, at this moment, the real disposable income of the population has increased by 4.4%, yes, i’m not mistaken, that’s how it is, that’s how it is, and this is also a very important factor not just in social policy, this is an important factor even from the point of view of economic development, the internal state of society, tuned to positive work, this is important for increasing labor productivity, as i said,

income growth and so on, uh, it is necessary to create the widest range of instruments for financing, for financing investments , designed for any scale, from small enterprises to large, largest systemically important companies, which is extremely important, these tools must be customized to the specifics of the business, taking into account its phase development, and of course, the characteristics of the area in which he works. where the plans of a particular business are being implemented, as you well know, it is these parameters that in each specific case determine the most convenient, effective type of financing: debt or equity. of course, the banking sector and the stock market play a leading role in promoting such mechanisms. russian banks, despite the fact that most of them are under sanctions, operate... stably, have

a solid margin of safety, and are increasing lending to the real sector. i constantly communicate with representatives of large , medium-sized companies and representatives of the financial sector, everyone is always dissatisfied with each other, this is always, i think, everywhere, but, but the numbers indicate that decisions are being made. life goes on, the economy develops, in general the result is good, some experts, i want to return to those who prophesied that because of the sanctions our banks would stop developing and would not finance the economy, but instead the banking sector increased its efficiency, and reached record lending volumes. in the entire history of russia, the volume

of lending, record lending , both corporate and mortgage, here: certain risks exist, the government and the central bank are now also discussing this, they are looking for certain solutions among themselves so as not to overheat this market, we know the negative experience of individual countries where the mortgage lending market was - to put it mildly, not backed by any real money, we know how what this led to, so we are trying to take into account all experiences, including negative ones, so that nothing like this happens in our economy. but nevertheless, as for lending, if over the past year the volume of ruble loans to the corporate sector increased by 9.5 trillion rubles, then since the beginning of this year it has added more than 13

trillion. we can confidently say that internal sources of lending for russian companies have replaced external ones, this is one of the most... fundamental issues for our economy, i can’t say that everything completely resolved, no, of course not, of course , because western lending is cheaper there, and the volumes there are different, but in general, there is no problem here today, the same can be said about government borrowing, for the first time in a long time there is a federal deficit the budget was fully financed from internal resources, while western... investors themselves, or rather, under pressure from their governments, deprived themselves, again, of the opportunity to make money on our highly profitable market, well, it’s like one can only sympathize with them, let them have more influence on sound decisions that should

be made at the level of government structures in their countries, a few words about public finances, for 11 months of this year the federal budget deficit amounted to 800... 78 billion rubles, this is approximately half a percent of gdp , and if you look at the consolidated budget, then there is a surplus of 837 billion rubles, but if you collect regional finances and so on, that is, in general, the financial system of russia is absolutely normal in an absolutely healthy state, let me remind you that at the beginning of the year some experts expected that russia, russia... would face a budget deficit of three or even 5% of gdp, well, by the way, this would not be some kind of catastrophe and would not be a big problem was not taking into account the low debt, the low level of our debt, but nevertheless this did not happen, in a word, again, in

their forecasts they gave out wishful thinking ; in reality, everything turned out differently, as you can see, while we also see problems, of course , so to maintain positive dynamics, it is necessary that the economy, russian companies had more opportunities to attract resources on our financial market and increased the number of placements of their securities, which were in demand within the country. in this regard, i would like to say the following: at meetings with leading russian business associations during economic forums, the question often arises: the flow of capital, opinions are heard that large, profitable businesses would like to save, invest in russia, it is reliable here, and the profitability is higher , there are not enough investment instruments, but this is how it really is, it seems to me

that this is the case, we need to give way to such investments, develop a modern financial infrastructure, create effective channels for transforming corporate savings into investments, i draw the attention of both the government and the central bank, our development institutions to this, i ask the government together with vnesheconombank, ensure the speedy launch of investment projects within the framework of the equity capital fund program. the essence of this mechanism is that banks direct free funds to the fund, and it is this fund guarantees the return on investment, the guarantor is vneshchonombank, thus banks can participate in business projects of the real sector as co-founders, this is the first such fund, it has been created, the matter is for the widespread practical use of such an instrument, real financing of specific initiatives, we have worked very hard for a long time

to create this fund - with rsp, uh, there are a lot of discussions on this subject, but it needs to be created so that it gets involved, finally starts working, and even today the russian... the russian stock market is actively attracting funds citizens. more than 27 million people already use brokerage services, about a quarter more than a year ago. the value of the assets they own is about 9 trillion rubles. savings of citizens should serve as an important source of investment resources, as this is done in many economies of the world, to work for the economy, for development and bring additional income to the people themselves, for those who are ready to invest for a long time, earn money within the country, we are already creating attractive conditions, but - an investment... in foreign papers, they, therefore, have already shown what it is worth, the unreliability

turned out to be so obvious, and the actions of these western partners are so uh, i don’t even know what to call it, but uncivilized, so to speak, these actions can be called mildly, just among people money was stolen from individuals, it was simply disgraceful, but nevertheless, we have to deal with such things, they destroy their own... the economy , so those who do this, a new tool will be launched from january 1 next year long-term savings of citizens, we are talking about voluntary savings in non-state funds, such funds of citizens in the amount of up to 2 million 800,000 rubles will be insured by the state, that is, their return will be guaranteed. i believe that the same insurance mechanism should be extended to long-term individual... investment accounts, here the maximum amount of insurance coverage can be

1,400,000 rubles per person, that is, the same as for insuring bank deposits. i hope that this will increase an influx of funds into projects with a long payback period, for example, into the construction of infrastructure, logistics corridors, terminals, and other large-scale long-term projects, based on the results... of the first year of the long-term savings program for citizens, the volume of such investments should be at least 200 50 billion, well this figure is not very large for the country, but it’s quite possible to start with this, in 2026 this resort should grow to 1% of gdp, separate decisions are needed for capital quickly. growing high-tech businesses, here as as a rule, among the assets, only the idea itself is valuable

, new technology and a great desire to implement them, and resources for development, for entering the market, as a rule, such a resource is not enough, we have already provided for measures that stimulate demand for innovation from the largest corporations and companies with state participation, they will more actively allocate funds for direct and venture investments. to purchase domestic high-tech products, the government and the bank of russia must certainly pay increased attention to this segment, including, it is necessary to simplify the issue of securities of small, dynamically growing companies, and not only on stock exchanges, but on investment platforms where private investors can become real co-owners of promising startups, of course, there are details that need... but it is certainly necessary to move in this direction. dear friends, financial

stability, self-sufficiency of the banking system and stock market are important elements of the country’s economic sovereignty. and we will definitely move forward on this paths, through the joint efforts of the state, a strong national society, nationally oriented business. we will work together with our foreign partners. we see this as the key to the successful development of russia, its strong position in a changing world, in the world of the future, thank you for your attention, thank you, thank you very much, vladimir vladimirovich, colleagues, you know that vladimich today has a very busy schedule of international contacts, however however, in order not to break tradition, he agreed to answer a number of questions. a few questions, otherwise that he will not have time, we have many colleagues who are speakers who will continue

to answer questions, so they will do it better than me, and not specialists, yes, of course, i doubt it, but this is the most, even more likely it is not yes, but it doesn’t matter, but they listened to your speech, i am speaking completely sincerely, 100%, okay, please, colleagues, quickly, yes, please, so, so, so, please, here, come on, girl, who there, you probably need a translation, yes, now, you need to be, uh, respect, vladimir vladimirovich, russian, i’m very glad to see you, my name is from the company, general director, i have a few questions, i want to ask, how do you see the future technological combination

between countries, after all that stream of restrictions. first of all, the country of the united states - in relations with china, which has strengthened the country's desire to be autonomous and self-sufficient , i am the first, i am talking primarily about the transfer - critical technologies, is there a fear that this will lead to a slowdown in technological progress, since each the country will have to go all the way to develop every technology entirely, and many will even try to ban the bicycle again, what will russia's path be like, in what

areas are you ready to cooperate? and which ones are not? this means, first of all, as regards china directly, we are ready to cooperate in all areas, we have no restrictions , this also applies, by the way, to military technologies, we, thinking about the prospects of the future world order, are thinking about ensuring the unconditional security of our security , we are already moving away from traditional... in relations with in this area, i bought something there, sold something there, we think about the future, we think about technology, this is the first thing, but if in essence, sit down, please, in essence, regarding your question, according to regarding technological restrictions

, will individual countries need to start from scratch, from a clean slate, or as they say from the center of the field, you understand, i already said this in my speech, these are these restrictions, they are being introduced in order to ensure unconditional dominance, maintain it at all costs, there have always been restrictions, always, no matter how much at one time they wanted to close the secret of gunpowder, but it still became the property of all mankind. is it good or bad , as it were later - who did not introduce any restrictions on pokakom’s lists, yes, they hindered the development of the soviet union, but all the tasks that he set for himself were solved in the nineties, after the soviet union was no more, it seems that the tecom lists were formally canceled, but in fact they continued to operate, and today

this is the so-called collective west, and where , first of all... the united states, they , at all costs, want to maintain their dominance, and above all in the technological, in the technological sphere, is this possible or not, but no, of course, before it was impossible, in the middle ages and during the cold war it was impossible, but now in the age of the internet, in the age of such speeds, exchange, including scientific exchanges, it is simply impossible, this is the first second, of course, but at some stage what - there will be success and so on, but those who conceals, they themselves may find themselves in a trap , they themselves may not receive something in time, this is secondly, thirdly, we should not think about these limitations, we must look forward

and go forward, and act on a broad front, primarily in the sphere education, which... becomes a factor, in fact, of economic growth itself, and we must do this with those who want to work in a modern and civilized manner, we must , within the framework of our common organization brix, create some kind of scientific, educational platforms, create the same investment platforms, engage in development, starting with education, if we act on such a broad front and support and help each other, no restrictions on those who are trying to retain some advantages will hinder us, i have no doubt about that . so we will work with the people's republic of china, we have very good trusting relations with the chairman at the government level at the level

of business circles, i have no doubt that we will not be stopped by anyone or slow down our development, colleagues, let's have some other girls, please. i am from the chinese company huangding, my name is yin-hu, i am very grateful to president putin for the fact that i only have one question. we have a very large cooperation in the area, mining department. but there is still great potential for their development, but after the departure of foreign enterprises, i would like there to be a more liberal policy here,

because we have very powerful enterprises in china, and we would like to develop mining in russia, the mining industry, they, i remember that 3-4 years ago, 30-40 million dollars were allocated for this, our company: for example, he is very responsible, he is engaged in mining, we have very great competencies in this area, and would like to cooperate , thank you very much, mr. president, well, i can only welcome your desire, i can only welcome, yes, i can only welcome your desire to work in russia, you didn’t specifically say, didn’t specify, but which ones specifically, the field of activity you named, specific ... what specific projects are in mind, of course we are ready to accompany and support them, as for greater liberalization, if you think that there are

some things limiting the possibility of expanding your activity in our economy, we will definitely consider them, only i must understand, what exactly are we talking about, well, my colleagues will be speaking, the minister of economic development is here, here on the podium too, sitting, then you can discuss it with him in more detail, thank god, our relations with china are developing at the highest level degree effectively, we set the goal in the next and coming years to reach 200 billion in trade turnover, this year we will already reach 200 billion, in my opinion no one has any doubts, and if your company can contribute to this in this joint moving forward, we will be only glad, please,

world, taking into account the current conflict, political tension and western sanctions, the russian federation has formulated a new geopolitical strategy, monetary, fiscal policy is being implemented, and russia is governing very successfully its economy. it is difficult not to notice that in terms of gdp growth rates, russia has achieved significant results, despite significant difficulties, i congratulate

the brilliant team that achieved this result, russia has historically been a partner, has very strong ties in various fields with our country, russia maybe. to develop a corridor from south to north, in the interests of our own, in the interests of the countries of this region. mr. president, both russia and india can play an extremely important role in geopolitics in ensuring economic growth our countries. our countries agreed to trade in our national currencies, rubles to rupees. given the new opportunities that are opening up, how could you speed up. process - expanding the scope of our bilateral trade, our economic ties and achieving prosperity. thank you, first of all, first of all i want to say that

relations between russia and india are developing progressively in all directions and the main guarantor of this is the policy pursued by prime minister mr. modi, so he belongs to that cohort world political figures , about whom i spoke without naming their names, i cannot imagine that fashion could be frightened, intimidated or forced to take any actions, steps and make decisions that are contrary to the national... interests of india , the indian people, there is such pressure , i know, by the way, he and i never even talk about it, i just look at what is happening from the outside and sometimes , to be honest, i’m even surprised by his tough position on defending national interests indian state, but nevertheless this is happening, and i repeat, trade turnover is growing, last year it was 35 billion

dollars per... for the year, and for the first half of this year it was already 33.5 billion, that is the growth will be significant, yes, we all understand that to a large extent, india receives, receives preferences due to discounts on russian energy resources, well, it’s doing the right thing, in fact, i would do the same in their place, if the situation is like this, they earn and... and rightly so, but of course, this not enough, we, we have much more opportunities, here in the world ranking, the economies of the world in terms of purchasing power parity, in terms of volume, economy, india ranks third in this list, russia, fifth, let me remind you, china, the united states, india, japan ,

russia, three largest. and of course, if china and i have about 200 billion this year, it would be right to increase it, the question is how to do this, what needs to be done? the first thing, and you yourself just said this, is to pay more attention to the development logistics, here is one of the projects that we will now discuss with our guest, the president of iran, mr. raisi, has already arrived in moscow, we will discuss with him this north-south corridor, including, and india is certainly a beneficiary , he india is interested in implementing routes of this kind, the northern sea route needs to be developed, it is also a very promising direction in the field of logistics, there are other routes that we can talk about, this is

all certainly very important. the second thing we must do is to develop financial infrastructure, we have already talked about this here, i mentioned, we need to use more national currencies in mutual settlements, we need to ensure unconditional settlements so that there are no bottlenecks in settlements and so on, but based on these basic things, we of course we must... pay more attention to investments, investment flows, and not just investments, in specific projects, in enterprises, to increase the volume of our cooperation in areas of activity sufficiently, both traditional pharmaceuticals and rural economy and industry, we have something to work on, this is how we will do it, thank you very much, i am sure that everything will work out, thank you, here is the last

quick question from me, maybe in 10 years, how do you see it? our hall for participants , will american and western european investors return here, what do you think about this , well, you know, as for investors, they, unlike those who command them, are smart people, they are invisibly present here, i assure you, so i really hope that we will be able to communicate with them directly, in personal in terms of contacts, they continue , to be honest, but they are not allowed to just do it; from the political level, shouts and decisions made do not allow them to work, but in the end, in my opinion, in my opinion, it’s still too early or late common sense will prevail, i ’m not in that mood, thank you very much, let’s thank vladimir vladimirovich for his intercession, thank you, thank you

very much, all the best,