Economic policy the Governments of the Republic of Karelia is determined by adopted in the republic documents of strategic planning: Strategy of Social and Economic Development of the Republic of Karelia through to 2020, Concept of Social and Economic Development of the Republic of Karelia for the period through to 2012 and Program of Economic and Social Development of the Republic of Karelia for the period through 2010. Implementation of these strategic documents is being monitored.
In 2008 priority directions in the economic sphere of the republic were increase of efficiency of the Karelia's economy, activization of innovative activity, further increase of the level of investment appeal of the region, maintenance of efficiency of the state budget investments and rational use of natural resources.
Implementation of priority directions of economic policy of the republic was carried out within the scope of strategic and tactical fields of concern.
In the strategic direction work on cooperation with federal authorities for protection and consideration of interests of the republic was conducted at development of federal projects, including the following proposals made on:
- defining zones (territories) of advanced development in the Republic of Karelia and offers on distribution of objects of federal infrastructure in the Republic of Karelia with a view of realization of potential of zones (territories) of advanced development;
- development priorities and prospects withing the scope of large projects implemented in territory of the republic through to 2020;
- conceptual offers for development of the Strategy of Long-Term Social and Economic Development of the Northwest Federal District;
- formation of optimum customs and tariff policy for the benefit of producers and investors of the republic.
Offers were made to federal authorities on completion of the Long-Term Social and Economic Development of the Russian Federation with a Breakdown into the Regional Aspect section of the draft concept of long-term social and economic development of the Russian Federation for the period through to 2020 project.
As a result of the work done the republic was allotted forestry and tourism as two zones of advanced development; republic's projects of power engineering and railway infrastructure were included in the long-term transport and power engineering development strategy of the Russian Federation, introduction of prohibitive timber duties was postponed.
To support of investment prospects of the republic, its branches and territories there has been developed the Plan of Measures on implementation of Guidelines of Investment Policy of the Government of the Republic of Karelia for 2007-2010. Changes were made to the Law of the RK On the Government Support of Investment Activity in the Republic of Karelia. The Order of supporting investment projects in territory of Karelia has been developed. Distribution of construction objects is carried out on the basis of the developed territorial planning scheme of the republic.
Basic elements of innovative infrastructure have been created in the Republic of Karelia: Regional Innovative Complex and IT-park of Petrozavodsk State University, Ukko innovative center and Karelian Technology and Innovations Transfer Center under Karelian Research Center of the Russian Academy of Science, Business Incubator of the Republic of Karelia, a few dozens of innovative active enterprises.
Economic policy implementation is carried out mainly with use of program-target methods. There operate programs of development of mining, forestry and agriculture, investment policy, housing construction, development of road facilities, support of small business, modernization of housing and communal services, etc. Master Plan of Distribution of Tourism Objects and Infrastructure in the Republic of Karelia has been developed.
With a view of government support of small and medium business development the Law of the Republic of Karelia On Some Issues of Small and Medium Business Development in the Republic of Karelia was passed, the project of the Regional Program of Small and Medium Business Development in the Republic of Karelia for the period through to 2014 was developed.
Further development of transport infrastructure necessary for more profound development of natural resources, development of tourism and other kinds of activity is provided. Government of the Republic of Karelia is actively developing mutually advantageous inter-regional relations, performes tasks in the field of international and frontier cooperation aimed at improvement of social and economic state of the republic.
Last year the basic emphasis was made on tactical decisions, main of which is preservation of industrial production of the republic at the level of the previous year under conditions of instability of the world financial market. Special attention has been paid to analysis and operation due to strengthening of negative tendencies in the real sector of economy in the second six months of the year.
Government of the Republic of Karelia has developed the plan of actions on cushioning of risks related to complex financial and economic situation. The plan provides realization of 62 actions and is aimed at the support of stability both in the republic as a whole, and in some sectors and fields of activity.
Weekly monitoring of economic situation at enterprises proceeded there in cooperation with proprietors, heads and economic services of enterprises, measures aimed at solution of occuring problems were developed, including with a view of increasing a package of orders of leading enterprises, preservation of human resources.
In 2009 Government of the Republic of Karelia states the task of stabilization of the situation due to implementation of anti-recessionary measures providing preservation of production, performance of social obligations stipulated by collective agreements.
For this purpose signing of agreements with town-forming enterprises of the republic for cooperaction in overcoming consequences of influence of financial crisis and social partnership is planned. There has been approved the list of strategic enterprises of the Republic of Karelia including more than 200 enterprises that will be rendered the government support.