MORDOVIA HAS RECORDED THE HIGHEST ECONOMIC GROWTH IN THE PAST NINE YEARS
Mordovia has recorded the highest economic growth in the past nine years. On June 27, the Head of Mordovia, Artem Zdunov, discussed issues of the region's socio-economic development with the First Deputy Prime Minister of the republican government, Natalia Tarkaeva.
Positive dynamics are noted in all areas. For example, in 2023, the gross regional product increased by 4.5%. This is the highest growth in the past nine years (in Russia, GDP growth in 2023 is estimated at 3.6%).
Industrial production increased by 8% in 2023 (3.5% across the Russian Federation), and from January to April of the current year, it grew by 13.3% (5.2% in Russia).
Capital investments in 2023 amounted to more than 74 billion rubles (74.1 billion rubles), an increase of 12.4% compared to the previous year (in comparable prices). This is the highest growth since 2012. From January to March 2024, this figure reached 13 billion rubles, showing an 8.4% increase compared to the same period last year.
The volume of agricultural production increased by 5.6% in 2023 compared to 2022, and by 3.4% from January to April of the current year. Last year, a record grain harvest was achieved – over 2 million tons (118% compared to 2022), and more than 1 million tons of sugar beets were harvested (121% compared to the previous year). Production of milk, meat, and sausage products also increased. Notably, sugar production grew by one and a half times, reaching 144 thousand tons in 2023.
Mordovia has one of the lowest inflation rates in the country. The consolidated consumer price index for 2023 was 104.8% – ranking 2nd in the Volga Federal District and 8th in Russia. From January to April 2024, it was 106.2% – the lowest among the regions of the Volga Federal District and 6th in Russia.
The Head of the Republic of Mordovia also emphasized the importance of salary growth, noting that it varies across different sectors and that there is still work to be done.
Source: Press Service of the Head of the Republic of Mordovia