Armavir city of Krasnodar region
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The Krasnodar Region took the fifth place in Russia by the volume of the Gross Regional Product in 2017 after Moscow, the Moscow Region, the Khanty-Mansiysk Autonomous District and St. Petersburg.
According to the press service of the Regional Administration, the GRP exceeded 2.3 trillion rubles. The highest growth was registered in construction (105.3%) and transport (106.2%), and the industrial production index grew by no less than 103.8%, which is much higher than the national average one.
The growth rate of the retail trade amounted to 101.7%. The situation well develops in the sphere of paid services to the population with an increase of 102.7%. The growth rate in public catering is 101.3%. The growth rate in agricultural production is 101.2%.
Investments in the economy of the Krasnodar Region for the first nine months increased by 5.3%. The Expert Rating Agency awarded the Krasnodar Region with the highest estimate for the investment climate in 2017 – 1A (maximum potential and minimum risk), along with Moscow, the Moscow Region and St. Petersburg.
The debt burden of the Region is also being decreased. Now, its level is 80%, although two years ago the revenues of the regional treasury were almost equal to the volume of the government debt.