Tatarstan Minister of Economy Midkhat Shagiakhmetov: Increasing the economic resilience should be based on backbone enterprises that form half of the GRP of the republic

On May 28, speaking at a regional videoconference in the Government House of the republic held by Tatarstan President Rustam Minnikhanov with participation of Prime Minister of the republic Aleksey Pesoshin, Deputy Prime Minister of the republic – Tatarstan Minister of Economy Midkhat Shagiakhmetov reported on measures ensuring sustainable development of the economy of the Republic of Tatarstan.

Shagiakhmetov reminded that the Federal Government Commission adopted 7 packages of federal support measures under the Priority Action Plan to ensure the development of the Russian economy under external restrictions pressure.

Tatarstan Government is also implementing an Action Plan to ensure the sustainable development of the republic’s economy. According to the results of 4 month of 2022, gross regional product (GRP) of the republic is estimated at 106.5 percent, Tatarstan Minister of Economy said.

He clarified that these data are based on the measures taken by enterprises to establish new cooperation ties, to restructure logistics chains, to find new markets and to use public support measures.

The decline in industrial production in April was most affected by 10 per cent decline in oil refining, which makes 21.5 per cent in it, and 27 per cent decline in motor vehicle production, which makes 11 per cent of the production, reduction in industrial production of rubber and plastic products by 12 per cent, the share of which makes 4 per cent.

Increasing the economic resilience should be based on backbone enterprises that form half of the GRP of the republic, Shagiakhmetov said.

Support measures are provided to enterprises included in the federal list of backbone organizations. According to the results of the meeting of the Government Commission, this week another organization of the republic Kazan Express Company was included into this list. To date, 60 enterprises and organizations of the republic have been included.

The situation on food stocks is stable. The volume of basic goods in trade networks and distribution centres is sufficient to meet the demand of the population. The food supply of the republic is under constant control of the working group of the Operational Headquarters, Tatarstan Minister stated.

The situation in the labor market is characterized as relatively stable, he said.