Innovative sector of Russian economy to provide more than 10% of national GDP, says Putin

MOSCOW, November 1. /TASS/. The innovative sector of the Russian economy must provide over 10% of national GDP, President Vladimir Putin said on Thursday at the meeting with representatives of the German business community.

“We need to achieve that the innovative economic sector generates more than 10% of Russian GDP,” the head of state said.

Russian authorities do a lot for dynamic technological development of the nation, Putin noted. The Digital Economy program was launched, with labor productivity planned to be increased by 30% by 2024 within its framework. “This is a highly ambitious goal. We understand this pretty well. However, exactly such goals should be set if we want to achieve something,” he noted.

Russia’s growing position in the Doing Business rating “enables the business to feel more confidently, implement long-term development plans,” Putin added.