Veniamin Kondratyev, Governor of the Krasnodar Region: Krasnodar Region ranked fifth largest economy in Russia

«We have successfully diversified the economy of the Krasnodar Region, with strong growth in industry, transportation, and agriculture. By the end of 2025, the gross regional domestic product had reached 5.8 trillion roubles, enabling us to become Russia's fifth-largest economy for the first time. We intend not only to maintain this position but also to ensure further development. We must make every effort to increase the gross regional domestic product to 6.3 trillion roubles by 2026. We must allocate 650 billion roubles of our own revenue to the region’s consolidated budget. Our initiatives to improve quality of life in the region depend directly on economic growth and sufficient revenue,» said Veniamin Kondratyev.

First Deputy Governor Igor Galas emphasised that next year the region is tasked with fulfilling the President’s key priorities. These include reviving economic growth and investment, restructuring imports of goods and services, elevating labour productivity, and fast-tracking promising new technologies.

«To achieve these objectives, it is essential to ensure that the economy grows at a rate of 102.6%. Our primary objective is to provide comprehensive support for entrepreneurs and investors, while also creating the most favourable business environment,» said Igor Galas.

Igor Galas emphasised that executive and local authorities must prioritise identifying new sources of economic growth, particularly by stimulating investment and innovation.