Investment growth should reach 10-12% per year to achieve target values

UFA, 1 October 2019. /Bashinform News Agency/ translated by Tatiana Aksyutina/.

The growth of the gross regional product in the next five-year period should be 5-6% per year to achieve the target of 2 trillion rubles, indicated in the September Decree of the Head of Bashkiria, Radiy Khabirov. It was stated at the briefing by the Interim Deputy Prime Minister of the Government RB Ilshat Tazhitdinov. Investments in fixed assets should amount to 500 billion rubles in 2024. The Deputy Prime Minister believes that this is an achievable indicator: “In the first half of 2019, growth was 13.6%, respectively, we must not slow down and increase by 10-12% per year."

Federal instruments such as special economic zones and priority development areas will help to attract investments. Five years later, there should be at least 100 PDA residents in Bashkiria, now there are 28 of them. Regional tools will be actively used to create a favorable investment climate - tax incentives, offset agreements.

Attracting investments will increase the consolidated budget of the republic, the Interim Minister of Finance Lira Igtisamova commented on. At the end of the grace period, new enterprises will begin to pay taxes in full. A 1.5-fold increase in salaries will entail a similar rise in personal income tax payments, the volume of which constitutes a significant item of budget replenishment. The growth of GRP to 2 trillion rubles will add 113 billion rubles to the treasury over five years.