Main page > Investment opportunities and economic information > Socio-Economic Indicators > Socio-Economic Snapshot > Economic Development from 1999-2003 Brief Summary of the Social-economic Situation in the Leningrad Region from 1999-2003
Industrial production is the basis of the economic potential of the Leningrad Region. The diversified industry of the region includes sectors of Federal significance: nonferrous metallurgy, chemical, pulp and paper industries. At the present time, 1/3 of the gross regional yield is created in the industrial sector, where 1/3 of the adult work force of the region is employed. The base of the Region industry consists of more than 300 large enterprises. About 85% of the region’s enterprises are joint-stock companies. Several thousand small enterprises and over 100 joint ventures specializing in industrial production also function on the territory of the region. The major joint ventures are: the Russian-Swedish “Svetogorsk” pulp and paper plant; the Russian-Swiss “Ladoga-Granite” plant, producing granite articles; the Russian-German “Era” enterprise, producing household chemical goods; the Russian-German Luga abrasive plant, making high quality tools.
Finances
The Leningrad Region last year saw considerable growth in the volume of industrial production, investment in the basic capital from different financial sources, and successful realization of investment projects. These factors generated a profit of 11,8 billion rubles in 2002. This is 23,6% more than in 2001 and in 90 times more than in 1998.
Year by year there has been a stable increase of average monthly wages. For example, in December 2002 it was more 5800 rubles. Real salaries have risen 36% relative to 1998.
During the last 5 years, government attention and resources have been devoted to ensuring improvement of the standard of living, employment of the adult work force, and improvement of the quality and accessibility of the most important social services.
The most important result of the educational system’s development in the last years was the realization of the transition from a unification to a variation system.
Great attention was devoted to the development of the network of village agrarian, environmental and culturological models of the schools are operating in the region. Significant attention was devoted to the patriotically education, to the maintaining of national schools – Russian, Finnish and Vepsian. Every second schoolchild has access to continuing education
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In the field of health care in the region started operating a mandatory system of medical insurance. In the nearest future out-patient treatment, preventive treatment of illnesses and development of less expensive methods of treatment in hospitals will be emphasized.
During the last several years there has been stable development of the labor market and reduction of the unemployment level in the region.
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