Bashkiria GRP in 2013 amounted to 1 trillion 163.3 billion rubles with an increase of 3.1 percent

Gross regional product (GRP) of Bashkortostan amounted to 1 trillion 163.3 billion rubles in 2013, which exceeds the figure of 2012 by 3.1 percent. This was informed by the Deputy Prime Minister of the Government RB, Minister of Economic Development Eugene Mavrin at a meeting of the republican Government on Wednesday.

“The main indicator of economic development - gross regional product of Bashkortostan increased by 3.1 percent in 2013 compared to 5.1 percent a year earlier and amounted to 1 trillion 163.3 billion rubles”, the vice premier said adding that "the GRP growth was projected for 2013 in the range of 3.6 percent, the difference with the current estimate made 0.5 percentage points."

GDP growth in the Russian Federation amounted to 1.3 percent.

According to Eugene Mavrin, the GRP growth was based on the continuing development of the industrial sector, exports and investment activity. "Domestic consumer demand, resulted in increasing consumption of goods and services" and growth recovery in agricultural production had also made a positive impact.

The First Deputy Prime Minister of the Government RB Rustem Mardanov said that a strategic benchmark of the republic on GRP growth indicated in the Presidential Address to the State Assembly of Bashkortostan – would be 1.5 trillion rubles in 2016. The growth should be provided "primarily through the mobilization of internal resources, updating of management system, optimizing the economic structure and increase in labour productivity."