SIMFEROPOL, November 27. /TASS/. Investments in the economy of Crimea from 2018 will grow by 10% annually, Minister of Economic Development of the region Andrey Melnikov said on Monday at public hearings of the republic’s draft budget of the republic for 2018-2020.
"According to our forecasts, there are tendencies to increase investment in the Crimean economy from the current 80 bln rubles ($1.37 bln) to 100 bln rubles ($1.72 bln) per year. The economy will grow by 10% or more annually, which is very high figure for economic development," he said.
Melnikov added that the gross regional product (GRP) is also expected to grow from 350 bln rubles ($6.02 bln) to 500 bln rubles ($8.59 bln) per year. "We are forecasting growth in GRP and overcoming the level of 500 bln rubles ($8.59 bln)," he said.
Earlier, the minister said that Crimea’s economic growth since the beginning of 2017 was 10%, and the GRP was approaching 350 bln rubles ($6.02 bln). The volume of investments for the 9 months of 2017 increased to 122 bln rubles ($2.09 bln) with a forecast of 80 bln rubles ($1.37 bln).