Medvedev: we plan to support import substitution in NCFD

The Russian government is planning to support projects of the North Caucasus Federal District aimed at import substitution, Russian Prime Minister Dmitry Medvedev said at a meeting of the government commission on the development of the North Caucasus.

"The situation on the world markets and the economic situation are very difficult and we have to work under tight budget constraints," he noted. "Therefore, creating the conditions for the accelerated development of industry and agriculture in the North Caucasus, we will support those projects which focused on import substitution," Medvedev said.

In addition, the Prime Minister drew attention to the fact that the situation in the industrial sector of the North Caucasus was better than the average in Russia. "For five months, the industrial output did not grow so much, but still by 0.7%," TASS cited him as saying.

Medvedev believes that the increased attention of the government on the implementation of investment projects in the industrial of the North Caucasus Federal District played its role, as well as the fact that the original base of the industry in the region is weaker. "Nevertheless, it is good that there is growth, since these figures decreased by 2.3% in the whole country," he stated.

According to the Prime Minister, more than 150 billion rubles will be allocated for the second phaseof the state program of the development of the North Caucasus in 2016-2020.