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Review of macroeconomic factors and risks

Review of macroeconomic factors exercising influence upon the economics of the branch 

IDGC of Center and Volga Region, JSC carries out its activity in the territory of the Russian Federation, what preconditions a dependence of the activity results on the social and economic situation in the country. 
Macroeconomic situation in the Russian Federation in 2014 was characterized by a weakening of the dynamics of development. Exacerbation of the geopolitical environment and strengthening of the economic sanctions in relation to Russia in 2014, has brought about a growth of uncertainty and an abrupt deterioration of the business sureness. An annual increase of the gross domestic product has amounted just to 0.6%. An access restriction of the Russian companies to the international financial resources and stiffening of the monetary policy have resulted in a cost growth of borrowing, what has had, to an even greater degree, a negative impact on an investment demand and consumer sentiment, having caused a strengthening of capital outflow and inflation outburst. Declining oil prices and the exacerbation of the external-economic situation fr om the middle of 2014, have resulted in a subsequent deterioration of the conditions for the economic growth. The consumer inflation for an annual period has amounted to 11.4%, having by 4,9 percentage points exceeded the last year value. Inflation, having gone on a double-digit meaning, has become the highest after year 2008. 

IDGC of Center and Volga Region, JSC is realizing the program of arrangements aimed at increasing of the work efficiency in terms of an instable economic situation: the expenditures reduction for the operating activity, an optimization of the relations with the contractors, an optimization of the contractual relations with consumers, the work with the accounts receivable, provision of the optimal tariff and balance solutions in the regions, wh ere the company carries out its activity. In order to secure a stability of settlements, the money operations of IDGC of Center and Volga Region, JSC take place in banks of high reliability with a governmental participation, to minimize a debt load there exist limitations as to a scope and rate of an interest on the involved borrowed funds. In order to optimize an investment activity, the investment programs are formed with due regard to a priority of the investment projects implementation, with the exclusion of the unfunded facilities.