The crisis’s influence on Yakutia’s economy

The world crisis definitely affected the macroeconomics of the Republic of Sakha (Yakutia), Valentina Kondratjeva, republic’s deputy minister of economy, said on Tuesday.

Situation with backpays has significantly deteriorated. In 2008 arrears of wages has increased from 979 thousand rubles up to 59 million rubles. Apart from, galloping inflation, towering unemployment, and drastic increase in unprofitable businesses have been taking place.

Industrial, transport and construction sectors faced financial difficulties, especially with getting credits in banks. An official said a decrease in production volume would keep going in tin mining (28 % as compared to 2008 figures), production of carving wood (86 %), timber (87 %), cement (85 %), petrol (95 %), cooked meats (95 %), flour (53 %) and bread (97 %).

Nevertheless, in 2008 republic’s gross domestic product volume surpasses the previous year’s one in 5 %. It became possible due to rise in industrial and agriculture production and investment. Personal incomes per head increased in 6.7 % as well.

// Dec. 26, 2008

Resource: Yakutia-Sakha News Agency