In tough times: What happened to economy of Yakutia in 2016


The republic’s economy had positive trends in 2016 and exceeded most of Russia’s average indicators. It’s explained by the region’s financial safety margin, adherence to strategic priorities and effective coordination between government, business and society.

According to preliminary estimates, the gross regional product increased 1.9% compared to 2015 and totaled 802 bln in current prices. Growth points were found in Yakutia, regarding almost all types of economic activity.

According to the Yakutia’s Ministry of Economy, industrial production index is expected to reach 101.1% over 2016. It will rise to this level due to coal mining, which is expected to reach 110.9%. As a comparison, oil – 106.6%, production, transportation and distribution of electricity, gas and water – 101.4%. These results take 2 and 3 positions.

Slowdown in industrial production growth will be affected by planned decrease in diamond production – 93.0% compared to 2015. However, due to a 24-percent increase in sales and rough diamonds price rise the ALROSA can earn over $400 mln this year. According to vice-president Igor Kulichik, it will make the company financially sustainable.

Sayuri (the resident of the priority development area (PDA) “Industrial park “Kangalassy) ceremonially opened the year-round greenhouse in the village of Sirdah on 7 December. 1.4 tons of tomatoes have already been collected. The first harvest went on sale in the New Year’s Eve. Local vegetables are to send to kindergartens. As the greenhouse will have projected rate operation it will supply a 40% need in high quality products of Yakutsk and suburbs.




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