Video address by Mikhail Mishustin to the participants of the XI Moscow Financial Forum.

Published on: 2026-09-21

Source: Government of the Russian Federation –

An important disclaimer is at the bottom of this article.

MIFF-2026 takes place on September 21 at the Central Exhibition Hall “Manege”.

From the transcript:

M. Mishustin: Good afternoon, dear friends!

I am glad to welcome all participants of the Moscow Financial Forum. It is being held for the 11th time already. Over the years, it has become one of the key platforms for professionals in investment management, funds, and capital. Interesting ideas and proposals are born here. The most relevant ones become part of the real economic policy of the Government.

Today, such a dialogue is especially important, given the changes occurring in global trade. New serious challenges have been added to the previous structural imbalances, including those related to energy security and due to the sharp increase in protectionism worldwide.

Despite the pressure from all these factors, Russia continues to steadily pursue its objectives. It remains the world’s fourth largest economy, maintaining positive growth in gross domestic product. For the first seven months, this figure is 0.6%.

The financial system is operating stably. The unemployment rate remains near historic lows and is about three times lower than in the Eurozone. This situation has become possible thanks to a consistent and responsible policy and, of course, the efforts of the entire business community of our country.

The President set ambitious tasks by defining national goals up to 2030 and with a perspective until 2036. Their resource support remains an unconditional priority of the budget.

Among them are not only social issues, but also technological leadership, digital transformation, and, of course, the development of economic and human potential. It is precisely such an interconnected circuit that should contribute to the further qualitative growth of the standard of living of our citizens.

As part of work on technological directions, more than 20 engineering development centers have already been established in fields such as robotics, the chemical industry, and bioeconomy. New ships and chemical enterprises are emerging, and machine tool building is expanding. These are all elements of the foundation on which long-term prosperity growth will be built.

The government is consistently developing a supply-side economy. Special attention is paid to promoting domestic goods and brands. For this purpose, the necessary infrastructure is being formed not only within the country but also in friendly states. Trade is being reoriented from Europe and the USA to the markets of China, India, Central Asian countries, Africa, and the Middle East.

These efforts are yielding results. In the first half of the year, Russia’s trade turnover with such trading partners amounted to about 25 trillion rubles. At the same time, Russian exports during this period grew by 15% year-on-year. The share of friendly countries in foreign trade turnover reached 85%.

Our non-commodity non-energy exports to such countries are also increasing. Growth for the first half of the year is 11%. Its volume has approached 6 trillion rubles.

At the end of summer, at a meeting of the Council for Strategic Development and National Projects, the head of state set another task – to launch a new investment cycle.

Work on this is already underway. First and foremost, we are creating conditions for the emergence of so-called long-term money, which can be invested not for a year or two, but for a much longer period. For citizens, such savings mean building capital for the future: for children’s education, buying housing, or ensuring a decent standard of living after the end of their career.

One such tool is the long-term savings program. Although it has been in operation for just over two and a half years, more than 14 million agreements have already been concluded within its framework. And the amount of attracted funds reached 1.2 trillion rubles.

Such dynamics became possible, in part, thanks to measures designed to enhance the attractiveness of this program. Last year, the conditions for citizens to receive tax deductions were simplified. Employers can now also reduce profit tax and insurance contributions if they help their employees increase amounts under long-term savings contracts. Around 190,000 people took advantage of this only in 2025. The total amount of tax deductions granted was about 7 billion rubles.

The insurance market is also developing confidently. In the first six months, the volume of payments to individuals and businesses amounted to 1.3 trillion rubles, which is almost 16% higher than the same period last year. This result was achieved primarily due to life savings insurance, voluntary medical insurance, as well as comprehensive automobile insurance – CASCO – and compulsory motor third-party liability insurance – OSAGO. Moreover, growth is seen in all key segments.

Assets of specialized organizations exceeded 7.3 trillion rubles, increasing by almost 22% in the first half of the year compared to the corresponding period of the previous year. And about half of these funds are invested in bonds of the state, development institutions, companies in information technology, communications, and electric power sectors. Essentially, the sector has already become one of the sources of those long-term resources we talked about.

The industry is also developing in new regions. During the same period, nearly one million insurance contracts have been signed there. And in the second quarter, there was an increase of over one third compared to the same period last year. Moreover, insurance there is no longer limited only to mandatory types; a significant portion consists of voluntary forms.

Another possible source is the stock market. So far, the situation there is uneven. The debt segment shows steady growth, but the equity sector, due to various factors, cannot demonstrate comparable dynamics.

To change the situation, the Government, together with the Bank of Russia, is working on creating incentives to increase business interest in placing securities. By 2030, for certain enterprises in industry and agriculture, we plan to shift the focus from preferential lending to IPOs, so that by attracting new shareholders, they can expand investments in their projects, actively engage in improving corporate procedures and increase capitalization, thereby gaining opportunities for further capital raising.

It is important that the emerging long-term funds become a source of investment in the Russian economy, so it is necessary to continue developing the domestic stock market, increasing its transparency and attractiveness, and creating conditions for new companies to enter it.

And of course, we will be glad to welcome foreign investors at it, those who are ready to work with us on an equal and mutually beneficial basis.

Stable financing of the economy, as well as ensuring payments and settlements, are impossible without a sustainable, modern, and accessible payment infrastructure based on advanced digital solutions. Today, they are one of the key factors of competitiveness.

Large technology companies leverage their advantages, transform business models, and enter markets where they claim leading roles. It is important to ensure fair competition, consumer rights protection, continuity, and operational sustainability.

Since September 1 of this year, operations with the digital ruble have been available in Russia. This is an important step towards developing a convenient, fast, and independent payment infrastructure in our country.

And this is not the only change. Also, starting from September 1, cryptocurrency transactions have become legal in the country. The corresponding law was signed by the President.

The technological level of financial services in Russia remains one of the highest in the world. Now it is necessary to move to the next stage – scaling successful technologies, tools, and modern payment solutions, while ensuring reliability and security.

Our infrastructure must be as convenient as possible for citizens and businesses, resilient to external constraints, and open to further improvement.

Dear friends! I am confident that the discussions within the forum will bring fresh ideas and practical solutions, including for the implementation of the tasks set by the head of state.

Taking this opportunity, I want to congratulate you on the recently passed Financial Day and thank you for the systematic work in strengthening the country’s financial sovereignty.

I wish all participants good luck and professional success.

Please note; This information is raw content obtained directly from the information source. It represents an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.