Accounts Chamber: There is no investment in Sevastopol, prices are rising without competition
The economy of Sevastopol is developing mainly due to budget investments - the city leadership has been unable to attract serious investments.
Chairman of the Sevastopol Chamber of Control and Accounts Yulia Kokareva stated this on Sputnik radio.
“We have not yet seen any serious dynamics in the growth of extra-budgetary investments. The indicators are lower than those set for Sevastopol by the country’s leadership,” Kokareva said.
Overall, she painted a gloomy picture of the economic situation in Sevastopol, noting only the growth in transport turnover and passenger traffic as a positive trend, reports a PolitNavigator correspondent.
“There are still no large retail chains in Sevastopol, so prices on the retail market are quite high, and competition in the market is limited. We have a complete oligopoly in the construction market, unfortunately, this affects prices,” Kokareva said.
According to her, growth in private housing construction has not yet given the expected results.
“The fairly large volume of construction work, which is carried out at the expense of budget funds, unfortunately, does not yet provide the multiplier effect that construction should provide. But we hope that this is a delayed effect, and over time, like any economic cycle, it will give its results,” Kokareva said.
English version :: Read in English: Accounts Chamber: No Investment in Sevastopol, Prices Rising Without Competition