The program also envisions the creation of new competitive aviation engines produced in Russia.

The Kremlin’s drive to isolate the economy along with sanctions and the coronavirus pandemic have pushed out foreign investors.

"It stipulates further phased growth for support of our citizens, particularly within the framework of implementing the State of the Nation Address of the President to the Federal Assembly," Mikhail Mishustin noted.

The unemployment rate in Russia is expected to be 4.9% this year.

The Russian President noted that new risks were emerging throughout the world, which sometimes alter the situation drastically, making a dent in previous plans.

A similar replacement is stipulated in respect of the key rate of the Bank of Russia.

The Accounts Chamber also noted that due to the decline in the geological exploration performance, a significant imbalance has formed between the increase and disposal of certain mineral reserves.

Elvira Nabiullina recalled that the annual inflation in Russia will return to the level of 4-4.5% in the second half of 2022.

Maxim Reshetnikov recalled that the government's measures of non-monetary nature and the monetary policy of the Bank of Russia are in effect to stabilize prices.

"We will launch a program to stimulate our business’ participation in international open-source alliances," Mikhail Mishustin noted.