Investments Up In Russian Regions

The growth of the general level of investments in Russian regions by 2004 as against the year 2000 can amount to 123-125 per cent. This was disclosed by the Russian Federation's Ministry of Economic Development. The growth of investment activity is expected in all economic regions of the country. The federal funds' share in the general level of investments will be decreasing. According to experts' estimates, the funds of enterprises, foreign investments, as well as borrowed funds, whose role is to increase drastically, will remain the main sources of financing investments. The highest growth in the general volume of investments which in its rates will tangibly exceed Russia's average level is expected in the Far Eastern federal district - 194 per cent. This is creating prerequisites for economic growth in the region in subsequent years. The highest level of capital investments whose share will be 22-25 per cent in Russia's total investments and high rates of growth are forecast in Western Siberia (the Urals federal district) in oil and gas extraction regions where production sharing agreements have been used already and will continue to be used on a wide scale.