The North Caucasus has high growth potential

The deputy director of the Institute of Economic Forecasting of the Russian Academy of Sciences, Alexander Shirov, commented on the current state of the Russian economy. The expert noted a slowdown in economic growth in the country. According to him, this year Russia's economy will grow by about 2%, perhaps a little less. This is the minimum rate at which it is possible to balance the main economic indicators. But although the current growth rate of the Russian economy has declined, it has good prospects, and the North Caucasus, in his opinion, has the greatest potential for growth. Speaking of the prospects for the economic development of the North Caucasus, the expert pointed to its dependence on pan-Russian dynamics. The region has a great opportunity to improve its performance, and investment projects such as the Olympic Games in Sochi should contribute to this. Huge investment is being made in the development of the North Caucasus, and it has to work positively. Another question is how it is strategically justified in general, because it is a project on a Russian scale.