BISNIS Representative
Nizhny Novgorod, Russia
Y2K Problem in the Nizhny Novgorod region
Regional providers of telecommunication services, energy, water supply companies, air transportation and railroad operators had not reported any failures or faults in their computer networks and systems after January 1, 2000 which could cause disruption of their activities. Local banks did not experience any computer problems either and went back to normal operations on January 10, 2000.
Volga-Vyatka Territorial Office for Bankruptcy
A new branch office of the Russian Federal Service for Bankruptcy was established in Nizhny Novgorod. An area of responsibility of the Volga-Vyatka Territorial Office includes the Nizhny Novgorod, Vladimir, Ryazan Regions as well as the Republics of Mariy El, Mordovia and Chuvashia.
GRP Forecast for 2000
According to a projection for 2000 by the Nizhny Novgorod Regional Department of Economics and Forecast, the gross regional product(GRP) is expected to grow by 1.5 percent in comparison to 1999. However, the projected rate will not be high enough to cover a 5 percent downsize of the GRP in 1998.