Economy Ministry outlines ICT development in Russia

Under a status quo scenario of the development of information and communications technologies (ICT), Russia's IT market is expected to grow 2.7 times to RUB 3.2 trillion (approx. USD 137bn) in 2020 compared to 2007, the Economy Ministry's draft outline of Russia's social and economic development until 2020 suggests. The status quo scenario stipulates that the existing system of sector regulation will be maintained and that the use of information technology by potential consumers will remain at the same level.

However, according to an innovative scenario, the ICT market will grow more rapidly thanks to Russia's competitive advantages in the traditional economic sectors, as well as the development of the high-tech industry. Specifically, the market is projected to expand by a factor of 5.9 in 2020 compared to 2007.