Proceeds on Moscow’s IT companies up by 17.5% in 2022

Russia Materials 27 February 2023 04:27 (UTC +04:00)

Moscow-based IT companies demonstrated a 17.5% growth in terms of proceeds in 2022 on the previous year, the official website of the Moscow city mayor and government said on Sunday, Trend reports citing TASS.

Apart from that, Moscow’s processing sector demonstrated a 10.2% growth and the construction sector grew by 13.4% in 2022 as compared to 2021.

"Manufacturers organized new technological processes, opened alternative markets and localized the production of the most popular goods," the Moscow mayor noted, adding that these results were reached thanks to additional anti-crisis measures.

Thus, Moscow has more than 80 systemic, regulatory and financial support measures worth more than 100 billion rubles (1.315 billion US dollars).