Decline in Russian Tobacco Production: Growth in Food Industry
According to a report from the Russian parliamentary newspaper on October 25th, data from the Russian Statistics Bureau reveals that the tobacco production index in Russia dropped by 18% in September 2023 compared to the same period last year.
According to the data, the food production index grew by 6.7%, while the beverage production index decreased by 1.8%, indicating that the food industry had more active production activities compared to the beverage industry. In other industries, the production index of finished metal products and the manufacturing of computer, electronic, and optical products both experienced significant increases, rising by 47.5% and 33.5% respectively.
It is worth mentioning that Russian President Vladimir Putin has shown particular interest in the use of tobacco and alcohol taxation. He has called for a majority of the revenue from the consumption tax on wine, vodka, brandy, and tobacco to be utilized for addressing societal issues, such as supporting sports initiatives. He specifically mentioned that the Ministry of Finance should carefully consider this proposal.
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