MOSCOW, January 5The structure of small and medium-sized enterprises (SMEs) in Russia does not correspond to the level of the economy that the country needs, it needs to be radically changed in favor of production — this is today problem No. 1 in the domestic economy, said the Commissioner under the President Russian Federation for the protection of the rights of entrepreneurs Boris Titov.
“The structure of Russian SMEs does not yet correspond to the level of the economy that we need. What is urgently needed today is to radically change it in favor of production. This is the No. 1 problem of the Russian economy today,” he said.
Unfortunately, so far, according to him, there is nothing to brag about.
“The bulk of our small and medium-sized businesses still operate not in production, but in the field of wholesale and retail trade (37%). Manufacturing in the structure of SMEs accounts for no more than 5-6% in terms of the number of entities and no more than 10% in terms of total turnover,” added the agency’s interlocutor.
In China, for example, the commissioner noted, “the manufacturing industry accounts for more than 40% of the value added of SMEs; in Japan, SMEs are responsible for 50% of the value added of the industrial sector.”
“We must finally understand that the main way to fight inflation now is to establish production in the country, open new enterprises, produce more goods, and not less, as is the case as a result of high rates,” Titov concluded.
Read the full text of the interview on the website (media group «Russia Today») ria.ru January 8 at 10.00 Moscow time.