Gleb Nikitin reported on the growth of GRP and the decrease in construction volumes in the region.

      On May 28, 2026, at 10:49, Economy Governor of the Nizhny Novgorod Region Gleb Nikitin presented a report on the results of the government’s work for 2025 at a meeting of the Legislative Assembly, reports NIA "Nizhny Novgorod" correspondent. According to the regional head, the economy operated under difficult internal and external conditions. Nevertheless, it was possible to maintain a long-term positive trend: over three years, the gross regional product grew by 17%, and for the results of 2025, it increased by 1.1%. The main driver was the consumption sector. Thanks to high incomes, retail turnover increased by almost 5%. Agricultural producers also showed confident results, with growth of 4.6%. The region fully provided itself with grain, potatoes, and eggs. Positive dynamics were noted in industry as a whole. However, a decline was recorded in several key sectors. Decreases in indicators occurred in the automotive industry, metallurgy, and chemical industry. Among the reasons, the governor cited rising costs, the strengthening of the ruble, decreased consumption, and logistical difficulties. The consequences of the tightening of monetary policy were particularly felt in the construction industry. Due to reduced access to credit, the volume of construction work decreased by 17%, and the commissioning of housing was 12.6% lower than the level of 2024. At the same time, Nikitin emphasized that developers have ready projects and significant urban planning potential that exceeds current construction volumes. The main problem remains the lack of sufficient banking instruments to simplify the purchase of housing. Despite the decline in indicators, the region is meeting the established housing commissioning plan—the government is conducting constant monitoring of the situation together with federal structures. Lending to legal entities and individual entrepreneurs decreased by 30% over the year. At the same time, the volume of investments reached 737 billion rubles, which in absolute terms exceeds the figure of the previous year. According to the governor, the investment trend remains above expectations, although a decrease is recorded in comparable prices. The governor added that most enterprises in the region maintain financial stability and ended the year with a profit. However, the total net profit across the economy decreased by 60%. To monitor the situation and support key sectors, an operational headquarters was established in 2025 to ensure sustainable socio-economic development in the region. It was previously reported that the investment map has been updated in the Nizhny Novgorod region. NIA "Nizhny Novgorod" has channels on Telegram and MAX. Subscribe to stay updated on major events, exclusive materials, and operational information. Copyright © 1999—2025 NIA "Nizhny Novgorod". When reprinting, a hyperlink to NIA "Nizhny Novgorod" is mandatory. This resource may contain materials 18+.