The Minister of Economy of the Republic of Tatarstan Artem Zdunov made a report at the meeting of the Cabinet of Ministers of the RT, dedicated to forecasting the socio-economic development of Tatarstan for 2018-2020 years

A meeting of the Cabinet of Ministers of the Republic of Tatarstan to consider the forecast for the socio-economic development of the Republic of Tatarstan for 2018-2021 years and the draft consolidated budget of the Republic of Tatarstan for the year 2018 and the planned period of 2019 and 2020 was held today.

The meeting was chaired by the Prime Minister of the RT, Alexei Pesoshin.

The President of the Republic of Tatarstan  Rustam Minnikhanov took part in the meeting.

In opening the meeting, Alexei Pesoshin noted that the indicators of forecasts were based on the basic version of the Russian economy's scenario, the projections of the sectoral ministries and the municipalities.

"According to analysts, Russia has adapted to the new economic environment and is now moving from stabilization to growth. It is necessary to continue the work on promoting the economic growth, strengthen competitiveness, create modern infrastructure that will improve the well-being of the population", - he noted.

Alexei Pesoshin reminded that the main strategic goal of the development of the Republic of Tatarstan, according to strategy 2030, was to build a globally competitive, sustainable pole of growth. This requires the balanced and effective development of all sectors of the economy and the social sphere of the republic.

Brief characteristics of the current economic situation and main parameters of the forecast of the social-economical development of the Republic of Tatarstan for 2018-2021 were presented by the Minister of Economy of the Republic of Tatarstan, Artem Zdunov. In the course of his report he informed, that the scenario terms in the forecast envisage the average annual cost of oil brand  «Urals» on the level of $40,8-42,4 per barrel  (in 2018–2020). The exchange rate of dollar will grow from 69.8 RUB in 2018 to 72.7 RUB in 2020. The forecast of 2021 envisages retaining the original parameters of the previous year.

According to the minister, the gross regional product in 2017, as estimated, will amount to 2072.2 bln RUB at the dynamics of 102.8%. In 2018-2021 years, the growth of economy is projected in the range of 103-103, 8%.

The industrial production index for the year 2017 is expected at 102.4%. The volume of shipped goods will be about 2147.9 bln RUB. In 2018 the industrial production index is forecasted at the level of 105.7%, in 2019 - 103.2%, in 2020 - 102.9%, and in 2021 - 102.4%.

In agriculture during the current year the production is expected to grow up to 260 bln RUB or in comparable prices by 5.1% to the level of the previous year. In 2018-2021 the annual growth rate for agricultural products is projected at the level of 101.9 per cent.

"The construction complex of the republic is expected to maintain the scope of contract works in comparable prices throughout the duration of the forecast period." It is planned to launch about 2 million 400 thousand sq m of housing annually,"- reported by Artem Zdunov.

The rehabilitation of consumer activities is observed on the consumer market of the republic. By results of the year, the increase in retail turnover will be 101.5 per cent. In the forecast period, the positive trend in the consumption of the population will continue - the rate of growth in retail trade would be from 101 to 102.2 per cent.

The scope of profits of enterprises in 2018 is expected at the level of 381.3 bln RUB.

"One of the main indicators of social and economic development is the scope of investments in fixed capital,"- said the head of Ministry of the RT. Thus, by results of the year the amount of investments is estimated at 677.2 billion RUB or 100.1% in comparable prices to the level of 2016. In the medium period term, the rate of growth of investments is projected at the level of 100.9-102.6%. The further development of the special economic zones of the republic "Alabuga" and "Innopolis" of the Kama innovative territorial production cluster "INNOKAM", Priority Social and Economic Development (PSEDA) Area "Naberezhnye Chelny", operating industrial sites of municipal level play a specific role here.

Unemployment in the republic remains on a relatively low level - as of the end of July, 12.9 thousand people are registered as unemployed.  According to the forecast in 2018-2021 the share of the uneployed in the total amount of economically active population would not exceed 1 per cent.

The rate of growth of the wage fund is projected within limits of 104.2-104.9%.

The President of the RT, Rustam Minnikhanov, in his turn, called on the heads of municipalities to observe the budgetary discipline and to avoid wastage.

"We will look carefully at all of your proposals in preparation for the budget and try to systematically fund them as part of the implementation of our state programs. We have more than 30 programs that, to a large extent, solved all the tasks that have been set," - underlined the president of the RT.