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Monday, October 24, 2016

Bloomberg: Russia starting to earn more on food than on weapons

A ban on the supply of food from the EU, a weak ruble and large subsidies have led to unprecedented growth in some sectors of agriculture in Russia. So much so, that food production has become more profitable than oil and arms exports.

photo: Sergei Ivanov

Bloomberg believes that the success of agriculture of Russia became the result of the efforts of the Russian government to minimize the dependence on uncontrolled markets. Also, the positive effect had a dramatic deterioration of relations between Moscow and Ankara and the subsequent ban on the export of a number of Turkish fruit and vegetables.

This, according to the Agency, has become a real blessing for farmers”. The article notes that the major achievement of Kremlin were record results in the export of grain. Russia, in particular, managed to overtake the United States sales of wheat.

Amid the increase in exports has been seriously affected by the import — from 2013, Russia reduced the purchase of foreign food by about 40 percent.

Earlier, Bloomberg reported that Russia is pursuing the most ambitious economic reforms in recent years. The Agency noted that apart from the agriculture in Russia began to develop food and chemical industries as well as domestic tourism.

Sanctions . Chronicle of events

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