The Deputy Minister of Economic Development of Russia, Dmitry Volvach, assessed a program between the governments of Russia and the de facto Republic of Abkhazia, which provides for the harmonization of „legislations.“
The program started in 2021 and its final stage is scheduled for 2025. The purpose of the program is to promote economic cooperation between Russia and the de facto republic and create appropriate investment conditions for Russian private investors.
According to Volvach, in 2024 the trade turnover between Russia and Abkhazia has already exceeded RUB 16 billion. In 2023, the income of the de facto republic amounted to RUB 9.8 billion exceeding the planned annual figures by 36.5%. Also, according to the Minister, Abkhazia's GDP amounted to RUB 69.4 billion and exceeded the figure approved by the Russian program for the socio-economic development of Abkhazia.
Volvach also added that projects of Russian private investors are already being implemented in the occupied Abkhazia with investments exceeding RUB 17 billion.