Midhat Shagiakhmetov participated the session of the State Council with the forecast of socio-economic development for 2014-2016 years

October 24, 2013 was held on the forty-fifth session of the State Council of the Republic of Tatarstan. On the agenda of the meeting was made 15 questions . Under the draft law of the Republic of Tatarstan "On the budget of the Republic of Tatarstan for 2014 and the planning period of 2015 and 2016 ," the Minister of Economy of the Republic of Tatarstan Midhat Shagiakhmetov spoke on the forecast of socio - economic development of the Republic of Tatarstan for 2014-2016 . In his speech, he focused on the characterization of the most important internal and external factors that are the basis for forward-looking estimates and forecasts focused on the development of key sectors of the economy that will determine the dynamics of the GRP in the medium term. "The forecast was developed in a very difficult macroeconomic environment , both in foreign and domestic markets, a slowing of economic dynamics ," - said the Minister of Economy of the Republic of Tatarstan. Among the internal factors affecting the current economic situation , Midhat Shagiakhmetov called low productivity slowdown in consumer demand, the increase in production costs due to rising prices of raw materials, energy and services of natural monopolies. Minister of Economy of the Republic of Tatarstan noted that a similar situation is observed in Russia as a whole. " Russian Economic Development Ministry has revised its forecast three times and lowered the growth rate of GDP in 2013 to 1.8 %," - said Midhat Shagiakhmetov .