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Development forecast for the region

Leningrad region stays among the leaders of economic development

In the nearest five years Leningrad region will stay one of the leaders of social and economic development among the regions of the Russian Federation.

In five years share of gross regional product in Leningrad region will come to 837,000 rubles per person, the average salary will increase to 64,300 rubles, industry will be growing by 3.2% annually.

This forecast was announced during a session of the Government of Leningrad Region. It was prepared in two scenarios – base and target. The first one assumes maintenance of the current trends, the second – improvement of foreign economic conditions.

“We are cautious in our positive forecasts and take into consideration conservative scenario. Over several years due to such approach real indices of social and economic development of Leningrad region considerably exceed those in the forecasts. Thus, we expected to reach the gross regional product amounting to 1 trillion rubles only by 2020, but we’ve already reached it in the end of 2017,” specified the Governor Alexander Drozdenko.

According to the base forecast, by 2024 the volume of gross regional product in Leningrad region will come to 111.9% in comparison with 2018 (the average annual growth – 1.9%), to the target forecast – 116.8% in comparison with 2018 (the average annual growth – 2.6%). GRP per capita in 2024 will come to 797,000 rubles according to base scenario and 837,000 according to target scenario.

The average annual growth of industrial production in 2019–2024 will come to 2.8% (base scenario) or 3.2% (target scenario), the volume of investments in Leningrad region will be growing annually by 2.8% (base scenario) and 3.7% (target scenario).

In 2024 the average salary in the region will increase from 62,300 rubles to 64,300 rubles.

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