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Rosstat summed up the dynamics of the gross regional product (GRP) for 2020 in the Russian Federation regions.
GRP is the main macroeconomic indicator that characterises the regions' economic development most clearly. Due to the large volume of indicators and the complexity of software systems, the GRP calculation takes about two years.
According to Rosstat, the volume of gross regional product manufactured in the Penza Oblast in 2020 amounted to 493.1 billion rubles, which is 44.6 billion rubles (by 9.9%) more than the previous period. The share of our region in the RF GRP total volume did not change and amounted to 0.5%.
The contribution of the Penza Oblast to the GRP volume in the Volga Federal District increased from 3.2% to 3.6%. Among the Volga Federal District regions in terms of GRP, our region remained in ninth place, ahead of the Ulyanovsk and Kirov Oblasts, as well as the Chuvash Republic, the Republic of Mordovia and the Republic of Mari El.
The growth rate of gross added value amounted to 103.1% (a decrease by 2.2% in Russia and 3% in the Volga Federal District). In terms of economic growth, our region is the leader in the Volga Federal District and has entered the top five Russian regions with the highest rates of economic growth.