Russian authorities decided to start import substitution due to Western sanctions. At the same time, the program for import substitution, which was adopted in 2014, was updated.. However, this threatens to regress for the economy and production of the Russian Federation, write RosSMI.

Under the sanctions, Russia will have to learn how to produce a lot on its own, but as a result, the Russian Federation will receive the following results of import substitution:.

In a year or two, the Russian Federation will be able to establish a simple production of some goods. The simpler the production, the higher the chances of successful import substitution. There are no particular difficulties in setting up production in Russia, for example, of nails. But it usually takes more than a year to build and set up conveyor lines for the production of a certain product..

Replacing complex goods won't be easy. There are a number of goods for the production of which there is simply no technology in Russia. Most likely, in this case there will be a gray import, which in itself is expensive.

Russian analogues will be more expensive than imports. Russian products that will appear will be expensive. If they could be made cheaply, they would have been produced in Russia before, they would compete with imports.

In a country that refuses to import, the economy does not grow (GDP). Since import substitution draws on resources. It is also a path to the primitivization of the economy. After all, first of all, it is necessary to replace the basic, vital goods. Therefore, from the most advanced industries, resources flow into industries that ensure survival..

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Earlier, the Ministry of Economy of Russia was worried and believes that the strengthening of the ruble has already reached its limit. “According to our estimates, now the strengthening of the ruble is at peak levels.. Imports, capital flows will adapt to new conditions. An important role in these processes should be played by the further reduction of the key rate by the Bank of Russia,” the ministry said..