Page 47 - RusRPTOct23

4.0 Real Economy 4.1 Industrial production
Data released on September 27 showed that industrial production growth picked up from 4.9% y/y in July to 5.4% y/y in August.
Prime Minister Mikhail Mishustin said that production of critical military equipment has doubled at a government meeting on September 21. Mishustin commended the collaborative efforts that have led to the establishment of intricate production processes within an exceptionally short timeframe. He underscored the tangible outcomes of these endeavors, particularly the exponential increase in the output of highly sought-after items. Notably, the output for the initial eight months of this year surpasses the total production of the preceding year, encompassing the corresponding period. The prime minister emphasized that this notable surge in production extends to pivotal categories of military equipment, with their manufacturing more than doubling. This extraordinary accomplishment extends to various sectors, including motor vehicles, communication systems, electronic warfare, and reconnaissance equipment. Mishustin's announcement underscores Russia's ongoing commitment to advancing its military capabilities and ensuring the readiness of its armed forces with state-of-the-art equipment and technology.
The share of manufacturing excluding oil refining and food industry in Russia’s GDP will rise to 13.8% in 2023, Prime Minister Mikhail Mishustin said at a plenary session of the Innoprom forum in Astana. Output in the segment of motor vehicles grew 1.5-fold in July y/y, while total growth in the manufacturing sector roughly equaled 10%, PM added.
47 RUSSIA Country Report October 2023 www.intellinews.com