"We are obliged to make the [fifth generation] airplane cheaper than analogous complexes abroad," Ivanov said during a meeting at the Central Institute of Aviation Motor Construction in Turayevo.
Russia's only known fifth-generation project is Sukhoi's PAK FA, RIA Novosti reported. The new jet, called the TA-50, is designed to compete with the U.S. F-22 Raptor, until now the world's only fifth-generation fighter, and the F-35 Lightning II.
The new jet flew its 16th test flight in June and Russian Prime Minister Vladimir Putin watched the test.
The fighter has been under development since the 1990s and Russian officials said the plane should be in service in 2015. The stealth-type plane will carry several types of missiles and have two 30-mm cannons, RIA Novosti said.