Khloponin presents NCFD's development strategy till 2025 to Russian government

The development strategy of the North-Caucasian Federal District (NCFD) till 2025 was presented by Alexander Khloponin, Russian President's Plenipotentiary in the District, for approval to Russian Premier Vladimir Putin during the meeting to Sochi on September 6.

"The strategy puts ambitious goals: by 2025, the annual growth rate of the regional GDP should reach 7.7 percent; the revenues of local budgets should quadruple; and the average monthly salary should increase by 2.5 times. It is planned to create over 400,000 jobs and to drop the registered unemployment rate from 16 down to 5 percent," Mr Khloponin said.

To achieve the above goals, the NCFD will receive billions of roubles for building enterprises, developing the infrastructure, transport system and a fuel and energy complex. In parallel, the social and economic base will be strengthened.

"It was decided to increase investment fund by 6 billion roubles; the funds will go mainly to targeted financing of projects for Northern Caucasus, including on building a complex for handling gas from the north of the Caspian Sea; the total budget making 112 billion roubles. Of them, almost 3.6 billion roubles from the investment fund," Mr Putin has noted.

Private and banking capitals will be attracted to construction of objects under state guarantees.

"They will cover 70 percent of project values. The proposals on this sort of mechanism will be drafted by the Ministry of Finance; and the procedure of receiving state guarantees should not be bureaucratic", the RIA "Novosti" quotes the Premier as saying.