OLN: Regional uncertainty estimated at 30% of GRP

Based on materials by RUGRAD.EU [1]. In an interview to RUGRAD.EU Alexandra Smirnova, Minister of Economy of the Kaliningrad region said that the uncertainty deriving from decisions made at the federal level concerning the regional economy may be estimated at 30% of GRP. According to the Minister, one of the most relevant examples of the effect of decisions by the federal centre is regulation of customs duties on imports of parts for consumer electronics assembling plants.

“If import duties are not raised one more time now to the level of prohibitive ones, we will experience complete shutdown of this industry. I.e. GRP will lose a substantial part”.

According to Minister Smirnova the decision concerning tariff policy on transit of Kaliningrad cargoes through Lithuanian territory also depends on political will of the federal centre. Read more in Russian… [2]

NOTE: News marked with OLN acronym is a translation prepared by AIKE to inform English speaking audience of the website on Kaliningrad news that are as a rule not covered in English anywhere else on the Internet. A link to the Russian source of information is provided in every OLN item in case you would like to learn more on the issue.