On the economy of the South of the country and business expectations — a report by the Bank of Russia

CrimeaPRESS reports:

next issue report «Regional economy: GU comments» focuses on the multidirectional trends in the current economic situation in the regions of the country, including in Sevastopol. The material is based on official statistics, business surveys, opinions of analysts and experts. These data are taken into account by the management of the Bank of Russia when making decisions on the key rate.

Due to the increase in throughput and changes in logistics flows, the cargo turnover of the southern ports of Russia in January 2023 increased by almost a quarter in annual terms. Sevastopol is no exception here — the volumes of transit grain transshipment have increased.

The tightening of foreign trade restrictions had practically no effect on the activities of the majority of surveyed enterprises. With economic sanctions in place since 2014, local companies are working with new trading partners in Southeast Asia, Africa and other regions. Sevastopol can offer the foreign market products of the food industry, winemaking, as well as ship equipment.

In general, the enterprises of the region are actively adapting to the new economic reality and using the conditions of the changing external environment for development, including the implementation of new business ideas and solutions that allow optimizing costs and increasing output.

During the preparation of the report, a wide range of specialized information was used — conducted by the Bank of Russia monitoring more than 14 thousand enterprises of the country, opinions of experts from regional executive authorities, business, industry unions, associations, and statistics.

source: press service of the Sevastopol Branch of the Southern Main Directorate of the Bank of Russia