The Russia’s government has signed an anti-crisis plan to restructure the economy in part through innovations, Deputy Prime Minister Arkady Dvorkovich told a meeting of regional officials on Wednesday.
Dvorkovich addressing regional officials at the Skolkovo Hypercube on Wednesday.
Russian news agency TASS reported that plan will require 1.375 trillion rubles (about $21 billion), including budget expenditures, state guarantees and spending from the oil wealth National Welfare Fund.
Speaking at a plenary session of a conference devoted to regional development at the Skolkovo Hypercube, Dvorkovich noted that the fledgling high-tech sector would play a key role in helping Russia out of its current difficulties.
“Significant elements [of the anti-crisis plan] are devoted to restructuring the Russian economy through innovation,” Dvorkovich said.
“I hope you can help us realize the country’s technological and industrial potential with the help of innovations,” he told the assembled officials, who represented 79 of Russia’s 83 regions.
Wednesday day-long event, named the “All-Russian Meeting on Russia’s Innovations Policy and Regional Development,” is led by Dvorkovich and carries the theme “Innovating in the New Economic Reality.”
Russia has been hit hard by the fall of the national currency, the ruble, and the wave of Western sanctions over the conflict in Ukraine.