Economy of the Krasnodar Region Took the 5th Place Among the Russian Regions

The Krasnodar Region took the fifth place in Russia by the volume of the Gross Regional Product in 2017 after Moscow, the Moscow Region, the Khanty-Mansiysk Autonomous District and St. Petersburg.

According to the press service of the Regional Administration, the GRP exceeded 2.3 trillion rubles. The highest growth was registered in construction (105.3%) and transport (106.2%), and the industrial production index grew by no less than 103.8%, which is much higher than the national average one.

The growth rate of the retail trade amounted to 101.7%. The situation well develops in the sphere of paid services to the population with an increase of 102.7%. The growth rate in public catering is 101.3%. The growth rate in agricultural production is 101.2%.

Investments in the economy of the Krasnodar Region for the first nine months increased by 5.3%. The Expert Rating Agency awarded the Krasnodar Region with the highest estimate for the investment climate in 2017 – 1A (maximum potential and minimum risk), along with Moscow, the Moscow Region and St. Petersburg.

The debt burden of the Region is also being decreased. Now, its level is 80%, although two years ago the revenues of the regional treasury were almost equal to the volume of the government debt.