On Monday, 30 September, the Government of the Russian Federation submitted to the State Duma a forecast of the economic and social development of the Russian Federation as part of the federal budget package of 2025-2027.

For the past two years, the Russian economy has been operating under unprecedented sanctions. At the same time, the Russian Federation was able not only to maintain its economic growth rate, but also to increase the economy significantly higher than other major developed countries (from 2023, GDP growth was 3.6%). To date, the Russian Federation is part of the fourth largest economy of the world (in terms of GDP calculated by purchasing power parity), which has proved the effectiveness of anti-crisis measures taken.

According to the baseline projection, the country ' s GDP growth in 2025 is 2.5 per cent, in 2026 it is 2.6 per cent and in 2027 it is 2.8 per cent.

Investment will provide almost one third of GDP growth. Private entrepreneurial initiative will be the main source of growth while maintaining budgetary support. Increased investment will increase domestic supply to meet demand.

Consumer demand is expected to grow further, with a contribution of 60 per cent to GDP. It is based on an increase in the real income of the population, especially through the rise of real wages against the background of low unemployment. The increase in wages will be facilitated by the annual increase in the minimum wage (MLP). From 1 January 2025, the total ITL will increase by 16.6 per cent to 2,440 roubles. Also through social benefits: decisions on indexing benefits, pensions, including for active pensioners, support for families with children.

Increasing consumer demand will be met by increasing production of Russian goods and services, in manufacturing, agriculture, tourism, services and other supply-side industries.

The situation in the labour market will continue to be stable thanks to measures of support by the Government of the Russian Federation to promote employment, as well as to improve the training and adaptation of the labour force to changing economic conditions while maintaining low unemployment.

As previously emphasized by the Minister for Economic Development of the Russian Federation, Maxim Rechetnikov, the forecast is realistic and allows for a sustainable budget over the next three years. It takes into account the costs of implementing the President ' s message to the Federal Assembly, new national projects. Economic policy measures aimed at " unleashing " core resources: labour, capital and technology.

In particular, there is a need to increase productivity in industries where it has grown slower in recent years -- tourism, trade, transport, construction -- and social sectors. These tasks are planned through a new federal project with line ministries through the establishment of sectoral competence centres. Also through the work of the productivity centres established over the years in the regions.

Structural changes in the economy impose new training and retraining requirements. The Kadra and Young People and Children ' s Projects will help to align business demand and training for specific professionals at universities and colleges.

Investment support measures are also projected. “In order to achieve the required growth rates, investments must grow faster than the economy as a whole. It is therefore important to further create stable conditions for investors. Share risks between business and government. To encourage interest in technologically complex projects”, Maxim Rechetnikov emphasized. The tools developed for this purpose are regularly improved and will be developed within the framework of the National Economics Project and sectoral government programmes.

Technology is to be developed through technology leadership projects, which are generally developed and resourced. These projects are designed to develop plant, air, ship and automobile construction, new materials, unmanned systems, and pharmaceutical production. It's also decisions in new energy, genetics and seditions. Their implementation and quantification will lead to economic growth beyond the three-year cycle.

Source: www.economy.com

***
In the Yaroslav region, various assistance is provided to entrepreneurs through the Mala and Middle Entrepreneurship Project, as well as to industrial enterprises under the " Productivity " project and the " International Cooperation and Export " national project.

All support measures for small and medium-sized businesses can be accessed on my business site.

Details of all support measures for industry and investors on the investing site