Viktor Ishayev, Minister for the Development of the Russian Far East and Presidential Envoy to the Far Eastern Federal District, commented on the economic situation in the region, pointing out that, being a subsystem of the national economy, it is directly linked to it, as well as to the Asian-Pacific markets.
“Growth rates in China are slowing down, the rates of growth in Europe are non-existent. The growth rates in the U.S. are low, although they have laid strong foundations, which are serving them now. The forecasts for Russia vary. We thought that 2013 will be better, but as last year economy grew at 3%, and we expected it to grow faster this year, the statistics show that GDP went up 1.8% this half year, with, presumably, a 2.4% forecast for the entire year,” the Minister said.
In comparison with the first six months of 2012, the GRP growth for Russian Far East was at 99.7% (Russia overall was at 101.7%), the index of industrial production reached 101.8% (for Russia, 100.1%). Investments in fixed assets in the Far Eastern Federal District equalled 72% (for Russia – 98.6%). The cargo turnover was 108%, with the average figure for Russia being 98.6%. Agricultural production reached 100% (for Russia – 102%), retail trade turnover reached 104.5% (for Russia 103.7%), paid services for the population stood at 105.2% (for Russia – 102%).
The average nominal monthly salary in the Far East is 35,039 roubles, while the average salary in Russia is 31,210 roubles.
“The region's freight turnover is growing due to active trade routes to the Asian Pacific Region, where economies are still growing, unlike in Europe. Investment receded a bit in comparison with last year. Industrial production is higher than the Russian average due to the abundance of natural resources. Goods turnover is growing, which means that the domestic market is sufficiently supplied with goods,” Mr Ishayev said.
Source: Ministry for the Development of the Russian Far East
