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Further growth of industrial production is predicted in the Tyumen region

30 October 2018  

The socio-economic forecast of the region for 2019, 2020 and 2021 was considered at the meeting of the Governmental panel of the Tyumen region, chaired by Governor Alexander Moor. The forecast was provided by Olga Prostneva, Director of the regional Department for Economy.

Describing the current situation in the regional economy, she noted that the manufacturing sector shows growth in 2018. The industrial production index of the Tyumen region for the period of January-September of this year reached 109.7% compared to the period of January-September 2017, the manufacturing production index reached 109.8%. The agricultural production index for the first half of 2018 was 103.0%.

Investments in the fixed assets for the period of January-June 2018 exceed the results of the same period of last year by 43.8%. Consumer sector demonstrates positive trend as well: the turnover of retail trade for nine months of 2018 exceeds the results of the same period of 2017 by 7.3%; the volume of paid services to the population exceeds the previous results by 1.7%.

Compared to the results of last year, the results of 2018 are expected to include the growth of investments in the fixed assets by 8%, industrial production index by 9%, manufacturing production index by 8%; the volume of agricultural production will be within the margins of 2017, using comparable prices.

The industrial production will continue to grow during the forecast period. This includes the manufacturing sector; in particular, the production of petroleum products, chemicals and pharmaceuticals, woodworking, the manufacture of machinery and equipment, fabricated metal products, rubber and plastic products.

It is expected that about 4.5 million square meters of residential housing will be commissioned in the Tyumen region during the period of 2019-2021. The positive trend of indices of population income and consumer market will remain.

According to the forecast, on average, the population of the region in 2019-2021 will grow by 17.5 thousand people annually, reaching 1.561 million people in 2021.

Discussing the prospects of development of the regional economy, Governor Alexander Moor focused on the matters of sustaining of the industrial growth, increasing the effectiveness of governmental support of agriculture, regional investment development. “The completion of the largest investment project of deep hydrocarbon processing complex at the Tobolsk industrial site during the forecast period will certainly affect the investment trend in the region. This new challenge should be met with the intensification of work on the portfolio of regional investment projects,” emphasized Alexander Moor.

Source: Press service of the Governor of the Tyumen region

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