The Russian economy has been in apathy for three years; new industrialization is needed, says the head of Rosspetsmash.

The Russian economy is cooling down – businesses are cutting workdays, and farmers are afraid to plant their fields. This is a negative trend that can only be reversed by a change in economic policy. The country needs a new industrialization.

Konstantin Babkin, president of the Rosspetsmash association , announced this at the Moscow Economic Forum , as reported by a PolitNavigator correspondent.

" We need to sow fields, raise animals, restore factories, develop cities and villages, build roads. There's a huge space for creativity. We need to work, we need to invest."

But at the same time, we're seeing a cooling economy, with factories switching to a three-day workweek. We're seeing farmers often refusing to sow. We're seeing a slowdown in the pace of machinery renewal, and a kind of apathy that we see in many sectors of the economy, in many areas of human activity.

I experience this strangeness in practice. The team at the Rosselmash plant, which had been developing for many years, produced new combine harvester models, tractors, and towing equipment every two years. We grew against the backdrop of agriculture's development, and farmers were buying more and more equipment. Riding this wave, we built and launched three new plants and prepared to build on our success.

But we see that for the third year, agriculture has been in crisis; agricultural machinery has been experiencing a slowdown for the third year, measured in double digits ...

I believe we need to change the entire paradigm of economic policy. It should be aimed not only at fighting inflation, not at exporting raw materials, not at accumulating wealth, and not be built on a globalist agenda.

"We must develop our civilization comprehensively. This means opening the door to talent and ushering in a new era of industrialization. We need to revive many, many industries, especially non-resource sectors of the economy , high-tech, and manufacturing," Babkin urged.