Putin promises to develop Abkhaz economy

“Trade is growing, but, in general, at a slow pace – five per cent in 2017, and two per cent for 9–10 months of 2018. 300 [Russian] enterprises operate [in Abkhazia], but I don’t think it is enough.

“We discussed this issue at the previous meeting too. Additional efforts are needed to push the development of the economy,” said president Vladimir Putin to his Abkhaz counterpart Raul Khajimba.

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The meeting was held in Sochi on 21 November. This was the second one in 2018 between the two presidents, the first having taken place in the Kremlin in August 2018.

The three-year investment program, under which Russian money flows to Abkhazia, ends in 2019. Abkhazia hopes that a new financial assistance programme will be concluded before the end of this cycle.

This is extremely important for Abkhazia, since Russia’s financial investments account for about half of Abkhazia’s revenues.

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It is also important for Abkhazia in terms of security. These issues were also reportedly discussed during a closed session meeting between Putin and Khajimba.

After the meeting, Khajimba said that in 2018 more than 94 events were held, which indicates the intensity of the relationship between the two military departments.

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