Yeugeny Nikolaichuk. Exclusivelyto VK
The Ministry of Economic Development has published a new prediction of the economic situation in next three years. The economic growth is planned due to improvement of internal consumption which will be provided by the growth of wages. In the current year incomes of Russian citizens will increase by 9.1% (previously 6.3% has been expected). Wages will continue to grow in 2013. The pace of individual consumption will surpass the wages growth and be 5.4% (previously 5% has been expected). As ruble has seriously weakened in 2012, the growth of consumption will be oriented at goods produced in Russia. That will provide the GDP’s increase.
In the context of rather optimistic prospects, the Ministry of Economic Development officially confirmed that inflation is worsening to 7% from 5-6%. Expectations about the growth of consumer prices have changed too. The Ministry reconsidered the prediction for 2013 from 4-5.5% to 5-6%.
Together with the inflation growth the level of real incomes of population will decrease. Previously the Ministry has predicted 5% of the growth, now it is speaking about 3% only. Later wages will grow slowly.
The statistics was worsened by the growth of the world food prices which appeared because of drought in many agricultural regions. The same problem touched on Kuban and the Stavropol Territory. Raw material markets contributed negatively to the situation. According to Goldman Sachs, the world agricultural products prices increased by 35.2%, raw material prices – by 16.7%.
The inflation growth provokes rumors on a new wave of the crisis. It might touch on many promising projects of the North Caucasian Federal District. The most important of them is the Strategy of Development of the North Caucasus by 2025. It is aimed at an economic breakthrough in the region. It includes the programs on establishing of the North Caucasian tourist cluster which needs state guarantees; rehabilitation of agricultural lands of Chechnya and Ingushetia; expenses for construction of the Olympic infrastructure in Sochi. These projects demand great investments. And it cannot but influence life of Russian citizens.
