Strong growth in Arkhangelsk
The Northwest Russian region of Arkhangelsk in 2010 had an economic growth of almost 11 percent. More positive results are expected in 2011, regional experts say.
According to the regional Ministry of Economic Development, the Gross Regional Product of Arkhangelsk in 2010 grew by 10,9 percent. That is more than the double of the average in Russia, Dvinainform.ru reports.
The GRP now amounts to 240 billion RUB while per capital GRP is 201,000. The figures do not include the Nenets Autonomous Okrug, the closely associated and richer region in the north. In the Nenets AO, the GRP in 2010 grew by 1,9 percent, the ministry says.
The regional growth in Arkhangelsk comes after a period of serious crisis. As described in the Barents Monitoring reports, the Arkhangelsk economy in 2009 suffered a serious setback both with regard to the industry and the regional administration.
Read also:Sensing the end of crisis
In 2010 industrial production picked pace with a 18 percent growth (January-November). Investments however increased only four percent.
Experts predict a continuation of the positive trend in 2011. The region is expected to significantly boost its regional revenues, Dvinainform.ru writes.
Read more about social and economic trends in Barents Russia in the Barents Monitoring reports
