LYUDMILA BLANK: DURING 5 YEARS THE CRIME MADE A BREAK IN ECONOMIC DEVELOPMENT

LYUDMILA BLANK: DURING 5 YEARS THE CRIME MADE A BREAK IN ECONOMIC DEVELOPMENT
The head of the Ministry of Economic Development of Crimea, Lyudmila Blank, in an interview with the FBA "Economy Today" spoke about the development of the economy in the region over the past five years.

“It can be said without exaggeration that in five years Crimea made a breakthrough in economic development. The gross regional product grew by 1.5 times, and we had the best indicators in the past two years: 14.7% in 2017 and more than 10% in the past,” she said.

According to her, this allows us to expect in the future economic growth of at least 4-5% annually.

As noted by Blank, the Crimea has all the prerequisites for this, including “ensuring transport accessibility of the region with the commissioning of the new airport and the bridge across the Kerch Strait”.

She also assured that sanctions by the West do not have a critical impact on the economy of the republic.

“They naturally led to a decrease in exports and imports to the Crimea due to the fact that foreign partners often cannot conduct foreign economic activity with the Crimean producers,” explained Blank.

She drew attention to the difficulties encountered in making payments for imported products, as well as blocking transactions and logistical difficulties. In particular, we are talking about the blockade of freight traffic from the Ukraine and the restriction of ship traffic at the Crimean ports.

These factors cause certain problems for business, but one way or another there is a way out, and the number of business partners of the republic is increasing. According to the head of the Ministry of Economic Development, Crimean goods are shipped to 26 countries around the world. As for imports, goods are imported to the peninsula from 52 countries, including Spain, Italy, China, Belarus and Ukraine.
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