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The strategy for social and economic development of the North Caucasus Federal district (NCFD) until 2025 was approved in 2010. However, given the changing social and economic situation of subjects of North Caucasus Federal district, the challenges facing the Russian economy due to the effects of limitations caused by the new coronavirus infection, unstable situation in the global economy, as well as working on the National plan of economic recovery of the country, the Ministry of Economic Development has started to update the Strategy for social and economic development of NCFD. When developing the strategy, an analysis of the social and economic situation of the North Caucasus Federal district will be carried out, and the main trends, problems and challenges of its social and economic development will be identified.
According to Mikhail Babich, first Deputy Minister of economic development of the Russian Federation, the main point of growth for the economy of all subjects of the North Federal district is tourism. "Recently, the interest of Russian and foreign tourists in recreation on the territory of the North Caucasus Federal district has been steadily growing and the tourism sector plays a significant role in improving the social and economic indicators of the subjects. The influence of the so-called "impression economy" on the economy of the district as a whole is growing. First of all, it is creating new jobs and ensuring stable incomes for residents of the North Caucasus Federal district.
The exploratory research will also involve the Charity Fund of Social and Charity Projects "Visit Caucasus". The Fund's activities are aimed at promoting the development of tourism and healthcare in the North Caucasus Federal district, as well as creating a favorable investment climate for the region. The Foundation implements research projects to improve social well-being and develop the economic potential of the NCFD subjects.
To carry out this work, the Federal budget for 2020 provides for budgetary allocations in the form of a grant to the "Visit Caucasus" Foundation. Thus, the Ministry of Economic Development of the Russian Federation has developed a corresponding draft resolution of the Government of the Russian Federation, which provides for the legal mechanisms necessary to bring these budget allocations.
"The implementation of the updated strategy will create favorable conditions for the development of tourism, which in turn will have a positive impact on the development of small and medium-sized businesses in this and related areas. Thus, the implementation of the strategy will ensure an increase in the level and quality of life of the population of the macroregion," Mikhail Babich notes.