Bashkiria’s economy is expected to reach increase of 11% by 2021

UFA, 8 November 2018. /Bashinform News Agency, Azat Gizatullin/ translated by Tatiana Aksyutina/. The annual growth of the republican domestic regional product in the next three years may be from 2 to 3.4% per year. By 2021, the economy will grow by 11% compared to 2017. The industrial production index for the four-year period (2018-2021) will increase by 12%. As the Minister of Economic Development of Bashkortostan Sergei Novikov said at a meeting of the Committee on Housing Policy and Infrastructure Development of the State Assembly RB, a stable growth in production volumes of 1.7% annually would be expected in agriculture. The cumulative increase will amount to 6% by 2021.

It is planned to increase the commissioning of the housing to 2.7 million square meters in 2021, which is higher than the 2017 level by 10%. As for investments, by the end of the year it is planned to achieve a growth rate of 100.6% with a subsequent increase in the rate to 102.8% by 2021.

“The average monthly salary is expected to be increased from 32.8 thousand rubles in 2018 to 38.6 thousand rubles in 2021. The growth rate of real disposable cash income by 2021 will reach 102.2%. This rate will make it possible to increase the overall level of the population’s standard of living in the republic by 5.3% in the medium term. The total unemployment rate will drop from 5% in 2018 to 4.7% in 2021”, noted Sergei Novikov presenting the deputies a medium-term forecast of the socio-economic development of the region for 2019-2021.