The government of Kabardino-Balkaria has passed a state program for economic development until 2016 totaling over 48 billion rubles, RIA Novosti reports.
The state program includes five purpose programs aimed at developing competition, increase of investment attraction, support of small and medium-sized business, development of industry, realization of the federal purpose program “Russia’s South” and the subprogram for development of information, Minister for Economic Development and Trade of Kabardino-Balkaria, Aliya Musukova, said.
The regional gross regional product in to increase 2.5-fold, compared with 2011, and reach 124 billion rubles. Investments in the basic capital are to increase 1.4-fold to 23 billion rubles. Employment is to increase by 6,000. 33.5% of all people employed are expected to work in small and medium-sized business.
Small and medium-sized business is to reach 30% of the GRP and pay over 900 million rubles by 2015. Out of 48.6 billion rubles needed for realization of the state program, over 6 billion rubles will be provided by the republic's budget.
