Economics

16:36, 24.01.2008 | Far East Russia

Russia's Federation Council is set to pay special attention to the federal program for the economic and social development of the Far East and Transbaikal region up to 2013.

According to the source, the task calls not only for budgetary contributions and concerted efforts by all governmental agencies concerned, but also for an efficient legal framework. Specifically, changes are required in the tariff policy, as transport tariffs are among the reasons for higher cost of living in the area. The program provides for RUB 400bn (approx. USD 16.07bn) in contributions, including RUB 100bn (approx. USD 4.02bn) for the development of the region's infrastructure and the construction of facilities for the ATEC (Asian Pacific Economic Cooperation) summit that the region is scheduled to host in 2012. In general, the region's transport and energy industries are given highest priority.





- RBC