Sverdlovsk Region proves one of Russia's top ten constituencies

7 February 2014 (10:23)

February 7, 2014. Sverdlovsk Region was given the 8th position in the federal constituencies appeal rating. Sverdlovsk Region's share of its own income was 79%, the share of debts was 12.9%. In terms of budget rating, however, the constituency was only given the 17th position; it was also assigned the 54th place in the economic development rating, Bank Saint Petersburg's research says.

'The federal budget revenues went down because of the recession, so we have reasonable grounds to believe that some areas might be in trouble due to less subsidies from the federal budget. In this case, they will have to either increase their debts or reduce their spending, which will have a negative impact on the economy,' the research indicates.

To assess and rank the federal constituencies, two main criteria were looked into: their economic development and the budget situation. This approach was quite justified, as many Russian Federation constituencies actually get by only with the federal budget's help, that is, they are the recipient areas.

The level of an area's economic development was assessed on the basis of construction rate, industrial production growth rate, retail trade turnover, and the population's actual income. These indicators added up to a single economic development index that was used to create the rating.


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