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Development of the region 2020-2024

Development of the region 2020-2024

The residents of Leningrad region will be able to get acquainted with the draft forecast of socio-economic development of the region in 2020-2024.

Committee for Economic Development and Investment Activity of Leningrad Region announced the start of public discussion of the short-term forecast. The document is available at the official websites of the Committee and Government Automated Information System “Management”.

The document was prepared in two versions. The first one is based on conservative estimates of economic growth pace taking into consideration possible deterioration of external economic situation. The second, basic version, characterizes development of economy in conditions of conservative changes of external situation and involves achievement of national development goals and key target indices of national projects determined in the May Decree of the President in 2018.

According to the basic version of the forecast, in 2024 the volume index of the gross regional product of Leningrad region will come to 117.4% in comparison with 2019 (average annual growth is 3.3%). GRP per capita will come to 860.5 thousand rubles by 2024. Average annual growth of industrial production in 2020-2024 will amount to 3.6%, construction will be growing by 1.4% annually, retail turnover – by 3.8%.

An important factor contributing to GRP growth in 2020-2024 will be implementation of large investment projects and, consequently, growth of investments in the economy of Leningrad region: average annual growth by 4.9% according to the basic version of the forecast.

Positive dynamics of the quality of life indices in Leningrad region is forecasted in 2020-2024. Annual growth of real cash income will come to about 2.7%, and real wages – by 2.5%. Annual average monthly nominal wage will grow by 64,200 rubles in 2024.

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