At a meeting with Alan Gagloev, the de-facto President of South Ossetia in Tskhinvali, Dmitry Volvach, the Deputy Minister of Economic Development of the Russian Federation, stated that South Ossetia is moving towards sustainable economic growth with the support of the Russian Federation.

"Growth of 20% in the first half of the year. This is a good result, given that the mutual trade grew by almost the same amount," Volvach said. He said it would be essential to create conditions for investment in the [separatist] republic. "For the import and export of exports and imports to be easier and more efficient, harmonization in the field of customs is needed," the Deputy Minister of Economic Development of the Russian Federation added. 

An interstate agreement was recently signed to promote the implementation of the State Program for the Social and Economic Development of the Republic of South Ossetia for 2022–2025. 

"As soon as the regulatory and legal framework is formed, we will begin to form a new package of investment projects where Russian assistance could be applied," Volvach emphasized. According to him, in addition to the increase in wages provided for by the program, it is also planned to develop infrastructure that will make the republic more attractive to investors. Also, he announced an agreement with large Russian banks ready to cooperate with investors. "We are not only economic but also strategic partners, so it is important for us that the economy of South Ossetia develops, increasing our own income. We are ready to help not only with investments but also to share the best practices that were in Russia," Volvach said.

For his part, the de-facto President of separatist South Ossetia noted that cooperation with the Russian Federation greatly affects the lives of the population of the [separatist] republic. "At a recent meeting with the Minister of Economic Development of Russia, Maxim Reshetnikov, the Program for the Social and Economic Development of South Ossetia for 2022–2025 was discussed. I would like to discuss some points of the program that need to be finalized. I count on your assistance," said Gagloev.

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