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Crimea may become priority development area — ministry

March 19, 2014, 13:40 UTC+3 TOKYO
Russian Deputy Minister of Economic Development Alexey Likhachev noted that issues of financial support for Crimea should not be reduced to budget investments
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Alexey Likhachev

Alexey Likhachev

© ITAR-TASS/Ilya Vydrevich

TOKYO, March 19. /ITAR-TASS/. In the event of Crimea’s accession to Russia, the republic may become an area of advanced economic growth in the near future, Russian Deputy Minister of Economic Development Alexey Likhachev told journalists in Tokyo on Wednesday.

“Not only in theory, but also in practice, Crimea may become an area of priority development,” Likhachev said. “We will study this question.”

He noted that issues of financial support for Crimea should not be reduced to budget investments.

“We should attract private investors as well,” he said. “Organizing investment flows will make Crimea a profitable region with high living standards.”

The required volume of investments into Crimea’s economy is estimated at $5 billion.

“This preliminary estimate includes expenses for the development of transport and recreation infrastructure,” Likhachev said, adding that it was not clear yet which share of these investments would be allocated from budget funds.

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