GRP to rise 8% a year

24 September 2008 (07:47)

Sverdlovsk Region’s Ministry of Economics and Labor reports the gross regional product will keep rising by 8% a year on average and will reach approximately 1,666 billion RUR in 2011, compared with only 800.7 billion RUR in 2007 and the prospective 1,004.9 billion RUR in 2008.

Experts believe the manufacturing branch (including food and processing industries) and production and distribution of electric power, natural gas, and water will develop most rapidly, while the retail trade and public catering industry’s turnovers are expected to grow by 17% to 22%.

The regional salary fund is likely to nearly double by 2011. The figure came to 277.7 billion RUR in 2007 and is predicted to come to 623.3 billion RUR in 2011.

Other materials on the topic::