Chechnya declared leadership in economic growth rates

Russian Deputy Prime Minister Alexander Novak held a meeting on improving the investment climate in the North Caucasus Federal District. He noted that in 2023-2024, the district achieved very good results in terms of investment growth rates - almost plus 20%.

The head of the Chechen government, Magomed Daudov, said at the meeting that the republic occupies a leading position among Russian regions in terms of gross regional product growth rates.

“In 2024, the GRP amounted to 314.4 billion rubles, which is 16.6% more than in 2023. Over the past year, the volume of investment in fixed assets increased by 16.3% and amounted to 198.8 billion rubles,” Daudov said.

In terms of GRP volumes, the North Caucasus Federal District lags behind other districts. At the same time, in most North Caucasian regions, GRP has increased twofold or more since 2015.

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