Bashkiria outpaced all-Russian development rate by almost 2 times

During the annual report on the work of the government of Bashkiria in 2023, the Prime Minister of the Government of the Republic told the deputies of the State Assembly of the seventh convocation the main directions of the government’s work - ensuring economic growth and social well-being of the republic.

“As a result, we reached the established level of 2 trillion rubles of gross regional product and 500 billion rubles of investment two years ahead of schedule. Over the five years, we have achieved an annual increase in capital investments from 30 to 100 billion rubles,” noted Andrey Nazarov.

He further elaborated that last year, the volume of investments soared to a historical maximum - exceeding 620 billion rubles. Since 2019, their share in the gross regional product has surged from 15 to 26%. In total, over 5 years, investments have grown by one and a half times, reaching a total volume of 2.3 trillion rubles, while in Russia and the Volga Federal District, they increased by less than a third. Bashkortostan's development has been almost 2 times faster than the all-Russian rate. Last March, at a government meeting, the Head of Bashkiria, Radiy Khabirov, attributed the republic’s success in attracting investments to a joint team effort, creating an attractive investment climate for investors. He also highlighted the republic's potential for further investment growth.

Author: Roman Yakimchuk