Social Economic Development

After a period of crisis and stagnation St. Petersburg has been witnessing gradual economic growth in recent 5 years. Now the city is experiencing the transition to the new mechanism of planning and social economic development. At the same time there are about three tens of the target programs adopted separately and operating at the same time.

In the 21^st century St. Petersburg needs new regulatory instruments of city economy. The program adopted by the city is based on the strategic planning principles. The Committee for Economic Development, Industrial Policy and Commerce prepared the draft project of the basic provisions of the social economic program until 2008.

The program contains:

• the parameters of the target prognosis of the social economic development, the system of development targets
• the basic directions of the increase of St. Petersburg's competitiveness.

The program implies triplicate investment volume until 2008. This will allow to multiply the Gross Regional Product by 1, 6% and the real income of the population by 1, 8%.

All statistic figures show that St.Petersburg is experiancing steady growth. In the 2002 the gross regional product went up by 5,7% in comparison to the year 2001 and by 26,5% comparing to 1998. Also other figures like rates of the manufactured product, the turn-over noticed spectacular increase as well as the rate of employment. The flow of investment increased by 5%.

The most important task for the coming years is to enhance the city's competitiveness on the world and Russian markets.