Yakutia: the GRP of the Republic has steadily increased since 2010

© Fotolia / sdecoretГрафик. Archival photoYakutia: the GRP of the Republic has steadily increased since 2010© Fotolia / sdecoret

Dynamics of development of economy of the Republic of Sakha — Yakutia shows that the combined power of the region reference points to achieve gross regional product in 1 trillion roubles in the coming years is very real.

That the early Republic will reach GRP 1 trillion rubles, said the Head of Yakutia Yegor Borisov in his November address to the State Assembly (Il Tumen) and the public.

Due to what is happening in the region economic growth? The gross regional product of the region has been steadily growing since 2010. This trend has continued in the current year, as is evident from the dynamics of the main socio-economic indicators.

«By the end of 2017, the gross regional product of the Republic is estimated at about 900 billion rubles. Yakutia is still surely among the top ten Russian regions with the highest GRP per capita. Recall that we set a goal to go to 1 trillion rubles of GRP by 2022. This goal is already very close, and I am sure that it will be achieved ahead of schedule,» — said Borisov.

Dynamics of the main socio-economic indicators of Yakutia




Of Sakha (Yakutia)

The index of industrial production,

9 months. 2017 in % to 9 months.2016




Investment in fixed capital

6 months. 2017, % by 6 months. 2016




The amount of work performed in the construction,

9 months. 2017, % 9 mon.2016




Construction of residential houses,

9 months. 2017, % 9 mon.2016




The average income of the population, August, 2017, % by August 2016




Average monthly nominal accrued wages,

Jan-Aug 2017, % to January-August 2016




Source: Rosstat

Investments like growth factor

A key factor in the development of any region is attracting investment. And in this field, Yakutia is one of the leaders among the constituent entities of the Russian Federation. A positive trend in its economy was the substantial increase in the volume of investments in fixed capital. By the end of 2016, the volume of investments in the region grew by 28.8%, and for the first half 2017, this figure increased 60.1%, which is the best value in the far Eastern Federal district and the fifth among all regions of the Russian Federation. For the first ten months of the current year investments in fixed capital are expected to reach 275 billion, 33.2% more than the same period in 2016.

Yakutia authorities, pays close attention to attracting investment in future projects. In particular, held in September this year, the Eastern economic forum presented priority investment projects of the region. It is the project «Diamond-mining enterprise in the field of the Verkhne-munskoe of the ore field» with a total value to 65.2 billion rubles. Production launch is planned in 2018. Another project is «Taransky enrichment plant», the planned capacity is 700 thousand tons of ore per year. The output design capacity is planned in 2019. The Republic also presented the project «Construction of Tayozhny mining and processing plant» with a design capacity to three million tons per year.

In addition, in the region of the planned construction of high-tech Gutauskas shipyard, «agro-industrial Park «Pokrovsky» and year-round greenhouse complex in Yakutsk.

The inflow of investments in the region contribute to new mechanisms, such as the territory of advancing socio-economic development. Already started the Industrial Park «Kangalassy» created by TOR «southern Yakutia» in Neryungri district. Set a favorable mode of administration and preferential tax treatment for residents, implementing regional investment projects.

Another indication of the high investment activity in the region is the growth in the construction industry. The amount of work performed in construction in the first 9 months of 2017 in the Republic, increased by 24.1%, significantly above the national average and is the third largest growth rate in DFO. For the first ten months of this year growth of volume of works by the form activity «construction» in the Republic is estimated at 22.6% compared to the same period of 2016.

It should be noted the high growth of construction of residential houses in January-September 2017 this figure rose in Yakutia by 25.5% compared to the same period last year. Among the subjects of the far Eastern Federal district the growth rate of residential construction was higher only in one region — the Kamchatka edge.

Yakutia — in the top 10 on the well-being of families

The result of active investment in Yakutia is to improve many socio-economic indicators. According to Rosstat, in the first 9 months of 2017, industrial production in the Republic grew by 2.5%, which is higher in Russia. Positive dynamics are characterized by indicators of standard of living of the population. Per capita monetary incomes in August 2017 amounted to 37.6 thousand rubles (the growth compared to the same period last year was at 2.1%) and the average monthly wage for Jan-Aug 2017 — 59 thousand rubles (the growth amounted to 5.2%).It should be noted that the size of per capita income and wages in Yakutia was higher than in the whole of the far Eastern Federal district and throughout Russia. In the Ranking of regions according to the well-being of families at the end of 2016, prepared by the Agency «RIA Rating», Yakutia is included in the top ten.

In the Republic there is a positive dynamics in many indices, which are included in the checklist for assessing the effectiveness of Executive authorities of constituent entities of the Russian Federation, approved by presidential decree of November 14, 2017. Among them, the gross regional product, investments into fixed capital, wages and others. Moreover, on such indicators as the volume of GRP per capita, investment in fixed assets and some other the Republic of Sakha (Yakutia) in the top ten among all the subjects of the Russian Federation.

Saving emerging trend will contribute to further development of the country and improving the assessment of activity of authorities of the region.