Investments in Kazan’s fixed assets exceed192 billion rubles — 50 billion invested in BRICS Summit
Wages have grown, investments in the city's capital have increased
Industrial production index is higher than in Russia
In 2024, the Russian economy, despite external challenges and restrictions, continues to demonstrate dynamic development, especially in Kazan, where a stable socio-economic situation remains, said deputy head of the Executive Committee of Kazan Ildar Shakirov at Business Monday meeting. According to the results of nine months, the industrial production index in the capital of Tatarstan amounted to 108.5%, which significantly exceeds the indicators of both the republic (102.8%) and the whole of Russia (104.4%).
The volume of shipped industrial goods of own production in Kazan during this period exceeded 579 billion rubles, an increase of 21% compared to last year. At the same time, 79% of shipments were products of the manufacturing industries, which also showed growth of 22%.
All the main sub-sectors maintain positive dynamics. Growth continues in:
- metal products (+74%);
- machinery and equipment (+45%);
- non-metallic and mineral products (+36%);
- computers, electronic and optical products (+31%);
- motor vehicles (+25%);
- foods (+23%).
“Good results are achieved by enterprises that actively modernise their production lines and optimize logistics,” said Shakirov.
Among the leaders in terms of output volumes are Kazankompressormash (+57%), KMPO (+9%), Teplokontrol (+29%) and Elekon plant (+25%). Also, noticeable growth of more than 20% was shown by BKK (+23%) and Kazan Dairy Plant (+20%)
Salary growth
Since the beginning of the year, its growth rate in Kazan remains high. Over the first nine months of 2024, the average salary at large and medium-sized enterprises in the city increased by 21% in nominal terms, exceeding 89,000 rubles. In real terms, taking into account inflation, salaries increased by 12%.
The highest wages are observed in the financial sector (121,500 rubles), as well as in the field of information technology (121,200), communications, scientific activity (121,100) and in the field of production and distribution of electricity, gas and water (103,000), the deputy head of the executive committee emphasised. Based on the results of the first half of 2024, Kazan improved its position among million-plus cities in Russia, moving up from fourth place in 2023 to third in terms of average salary.
The top 10 cities by average salary include the following cities with a population over a million people (data does not include Moscow and Saint Petersburg):
- Yekaterinburg — 95,800 rubles;
- Krasnoyarsk — 94,100 rubles;
- Kazan — 87,700 rubles;
- Novosibirsk — 87,100 rubles;
- Krasnodar — 87,000 rubles;
- Nizhny Novgorod — 86,500 rubles;
- Ufa — 83,000 rubles;
- Perm — 82.500 rubles;
- Rostov-on-Don — 81,800 rubles;
- Chelyabinsk — 80,800 rubles.
Kazan is the leader in terms of investment in the city's capital
According to the results of the first half of 2024, the volume of investment in fixed capital in the city increased by 48% compared to the same period last year, exceeding 192 billion rubles.
“Large and medium-sized enterprises attracted 144 billion rubles, which had a positive effect on preparations for the BRICS summit, for which about 50 billion rubles were attracted. These funds are used to repair roads, improve public spaces and modernise utility networks,” said the deputy head of the Executive Committee.
Kazan occupies a leading position among millionaire cities in terms of investment in fixed capital from large and medium-sized enterprises, with more than 97% of all investments directed to construction.
The top 5 in terms of investment included (excluding Moscow and Petersburg):
- Kazan — 144.2 billion rubles;
- Yekaterinburg — 134.9 billion rubles;
- Rostov-on-Don — 121.6 billion rubles;
- Perm — 112.4 billion rubles;
- Ufa — 108 billion rubles.
In the sphere of social infrastructure, three new schools for almost 4,000 students and a kindergarten for 260 children were opened this year. Kilometres of new and repaired roads were also built and housing was built
The volume of work performed by large and medium-sized enterprises in construction amounted to more than 77 billion rubles, which is 71% higher than the same period last year.
Kazan took second place in housing delivery in Russia
Kazan improved its position in the ranking of large Russian cities in housing commissioning, moving up to second place after the first half of 2024.
In the top for housing delivery (thousand sq. m):
- Krasnodar — 1,090.600;
- Kazan — 840,600;
- Novosibirsk — 752,200;
- Yekaterinburg — 448,300;
- Ufa — 409,300.
Over the first 9 months of 2024, 1.093 million square metres of housing were delivered in Kazan, which is 6% more than in the same period last year. 7,200 new facilities were built and delivered furnished apartments and almost 5,000 individual residential buildings.
Consumer market
The consumer market continues to play a key role in the economy of Kazan, ensuring stable growth and vitality of the city. Since the beginning of the year, there has been high consumer activity: according to the results of the first half of the year, growth was 12.5% in comparable prices, and the market volume reached 433 billion rubles.
The revenue of catering enterprises increased by 7% compared to last year, and services provided to the population brought in 103.5 billion rubles, which is 1% higher than the 2023 level.
- Inflation for the same period was 8.2%, which emphasizes the importance of price control for goods and services.
Small and medium-sized businesses also demonstrate positive trends: the number of small businesses increased by 2.4%, and employment in this sector increased by 2.3%.
The number of self-employed people has increased by 32% since 1 January 2024, to 130,500 people. The turnover of small businesses amounted to 578 billion rubles, up 10%. The average monthly salary in this category is 35 thousand rubles, up 2% from last year.
Tax revenues from small and medium-sized businesses for the first nine months of this year increased by 45%, to 8.7 billion rubles. The city authorities continue to work to combat the shadow sector, which should contribute to the further development of the economy. Read more about the shadow turnover in the Realnoe Vremya article.
Kazan unemployment rate has reached a historic low: the level has dropped to 0.2%
As of 1 October 2024, the level of officially registered unemployment in Kazan was only 0.2%, which is 26% lower than last year. There are more than 1,300 unemployed people registered in the city's employment centres, which is a historic low for the region. At the same time, a package of vacancies from more than 1.3 thousand organizations offering more than 15 thousand jobs has been formed in Kazan. Blue-collar jobs remain the most popular in the following areas:
- construction — 2,200 vacancies;
- industry — 3,500;
- transport — 1,400;
- trade — 1,800;
- education — 1,400
Among the vacancies, more than 62% of the offers are for blue-collar workers, while only 38% are allocated to special employees. Thus, the high level of wages and stable demand for workers contribute to a further reduction in unemployment in the city.
It should be reminded that at the last meeting of the Kazan City Duma, the problem of personnel shortage in Kazan was brought up for discussion. The labour market of Kazan is still experiencing a shortage of workers at enterprises. Currently, 13,500 vacancies remain open. Read more about it in Realnoe Vremya’s article.