North Caucasian economy shows signs of development, expert says

The economic indexes of the North Caucasus seem promising. The region's economy shows signs of development, while the situation in other regions is worse, deputy head of the Economic Prognosis Institute of the Russian Academy of Sciences Alexander Shirov says.

"I believe this year economic growth in Russia will be about 2 percent or perhaps a bit lower," the expert says. "Of course it's not a very good situation. That's the lowest figure that allows us to maintain the balance."

Speaking about the North Caucasus, the expert noted that the region has a weak economic base, but good prospects for future growth.