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Crimea’s economic recovery assessed at $4-$6 billion annually — Russian minister

June 03, 2014, 13:55 UTC+3 BAKU
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BAKU, June 03./ITAR-TASS/. Annual funding required to revive Crimea’s economy is estimated at 150-200 billion roubles ($4-$6 billion), Russia’s Economic Development Minister Alexei Ulyukayev told students and professors of the Azerbaijan Diplomatic Academy on Tuesday.

This amount covered investments, pay and retirement pensions, he said, cautioning that the calculation was “a rough estimation” involving many factors.

Crimean Affairs Minister Oleg Savelyev said at the end of May that spending for the region’s infrastructure development might reach from 500 to 900 billion roubles ($14-$25 billion). Ulyukayev said that “this depends on what we take into account”.

“There is a (planned) federal targeted programme for Crimea, and there are other federal special-purpose programmes for transport... which may include something or not,” Ulyukayev said.

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