The Ministry of Economic Development has defined the most efficient regions

The Ministry of Economic Development has defined ten the most efficient subjects of RF as of the end of the previous year. The Republic of Tatarstan has taken the lead among Russian regions.

At assessing the efficiency of the regions, the Ministry derived its support from 12 indices, which can be divided into 3 sections: economy development, social sector development, public opinion polls and 2 individual approaches. The leaders of the rating will be remunerated with cash grants. The Republic of Tatarstan, Tyumen region, the Khanty-Mansijsk Autonomous District – Yugra, Voronezh region, Chechnya, Astrakhan region, Sakhalin region, the Yamalo-Nenets Autonomous District, Kursk and Tambov regions are among the winners.

The Republic of Tatarstan is the undisputed leader with its 66.8 points out of 83. Thus, the republic has not only kept the position of leadership, but also improved its figures. The second best is Tyumen region, high results of which in investments attraction, development of small businesses and education were praised. Moreover, it should be noted that following the previous year Tyumen region has managed to achieve a reduction of expenditures on general state issues by 3-5%, which is also an index of efficiency of the region.

The Khanty-Mansijsk Autonomous District – Yugra is among the leaders in small business and housing construction development. The region is also one of the leaders in terms of real income of the population and is characterized by a relatively low level of unemployment.

Voronezh region was honorary mentioned for the dynamic of private investments attraction and has a 4th place in the monitoring of efficiency of activities carried out by the regional authorities.

Chechen Republic closes the top five, holding the leading positions with 6 indices, including on volumes of commissioned housing.

It is not only honorably, but also profitably to be a leader of this rating. The federal budget for 2014 includes intergovernmental transfers to remunerate the distinguished regions; the total is just over 3.48 billion rubles. The amounts of grants will be determined in proportion to the "merits" of each subject of the Russian Federation. So it was previously reported that Tatarstan, the leader of the rating, can expect 216 million rubles, Tyumen region 201 million rubles, and its constituent Yugra another 191 million rubles. Voronezh region will receive 184 million rubles for fourth place, and Chechnya 182 million rubles.

The capital is called back home

In the annual state-of-the-nation address Vladimir Putin expressed an idea to give the total one-time amnesty to the overseas capital, the basic country for origin of which is Russia; provided that it would be released from any kind of administrative or criminal prosecution at the moment of reregistration in the Russian jurisdiction.

Certainly, the President’s initiative should be considered in the positive aspects, as the problem of business legalization including those being received with the breach of legislation has arisen long time ago. Neither taxmen, nor law enforcement or other inspecting authorities will be interested in the source of capital origin and its legitimacy. However, it is highlighted that the entrepreneurs would be given an opportunity to use the chance only once.

The corresponding step is more than ever to the point: the heavy situation in the external markets, devaluation of the ruble and the flare-up with the Western countries lead to major capital outflow. It became very difficult to raise long investments from abroad. Moreover, unofficial prohibition on lending to Russian companies, being beyond sanctions, in Europe and the USA makes the authorities turn to “our” money abroad.

It remains to expect that the business community will hear the President’s address and the inspecting authorities won’t change their mind and won’t start persecuting the returning capital. It is left to wait till the address will be legalized and the law will contain specific steps and outlines of the historical amnesty.