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Russia’s digital economy program to require $1.6 bln

Russia’s digital economy program to require $1.6 bln

MOSCOW: The implementation of Russia’s digital economy development program will require funds totaling around 100 bln rubles ($1.6 bln) per year, Communications and Mass Media Minister Nikolai Nikiforov said Wednesday, adding that part of those funds has already been included into the budget. “The current estimation of annual expenses within the operation plan that we will be developing, amounts to around 100 bln rubles. I’d like to stress that a substantial part of those funds has already been included in the federal budget expenditures, we are to consolidate them, set an equal technical policy and equal rules of the game,” he said.

According to Nikiforov, the program will also require additional funds from the budget. The program of digital economy sets goals until 2024, the minister said, adding that the plan is to move towards those goals within “the so-called rolling three-year plan,” which will be approved by the government and verified each year. Russia will need “a conceptually new management model for implementation of the program and its financial support,” in order to put into life the whole set of efforts to develop a digital economy in Russia, Nikiforov added.