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Russian Arctic regions' revenues grow by almost 70% over 5 years — president's envoy

Yury Trutnev said that the total revenue to consolidated budgets of the Russian Federation Arctic had increased to 1.5 trillion rubles

MOSCOW, May 15. /TASS/. Revenues to the consolidated budgets of the Russian Arctic regions increased by almost 70% over five years - to 1.5 trillion rubles ($19 billion), Russia's deputy prime minister and presidential envoy to the Far Eastern Federal District, Yury Trutnev said.

"The total revenue to consolidated budgets of the Russian Federation Arctic has increased by almost 70% to 1.5 trillion rubles," he said the State Duma's meeting on the Far East and the Arctic.

More than 1,000 investment projects are being implemented in the Arctic, where investment will be more than 2 trillion rubles ($25 billion), of which 800 billion rubles ($10 billion) have been invested in the economy, and 285 enterprises have been launched, he added.

The Russian Federation's Arctic Zone is the world's largest special economic zone, where investors enjoy special tax and administrative incentives.

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