Republic of Tatarstan

Overview

The Republic of Tatarstan is, by virtue of the Constitution of the Russian Federation, a "subject" of the Russian Federation, which currently consists of 83 subjects comprising 21 republics (including the Republic of Tatarstan), 9 provinces, 46 regions, 1 autonomous region, 4 autonomous districts and 2 cities of federal significance (Moscow and St. Petersburg). The Republic is self-governed and has its own budget. It is divided into "municipalities" (43 districts, 2 big cities and 946 urban and rural settlements), all of which have their own budgets for the provision of certain public services and the undertaking of certain activities. State authority in the Republic is exercised by the President of the Republic, the State Council (Parliament) of the Republic and the Cabinet of Ministers of the Republic.

The Republic is situated about 800 kilometers south-east of Moscow on the confluence of the Volga and Kama rivers on the eastern part of the east European plains and covers an area of 68,000 square kilometers. The capital city of the Republic is Kazan. The population of the Republic is approx. 4.0 million.

The Republic is one of the most economically developed regions of Russia. In 2009, the Republic was among the top 10 subjects in terms of Gross Regional Product ("GRP") out of 83 subjects in the Russian Federation.

Key industrial sectors in the region include fuel and petrochemicals (oil extraction, production of synthetic rubber, tires, polyethylene and a wide range of oil products); heavy machine building (production of helicopters, airplanes, aircraft engines, heavy trucks, passenger cars, compressors and oil-and gas-pumping equipment) and electrical-and radio-instrument production. The industrial sector contributed the most to the GRP (approx. 44.1% in 2010). The Republic is rich in natural resources reserves including oil, gas, petroleum bitumen, brown and black coal, copper ore, phosphorites and aggregates.

The Republic's primary functions are to exercise regional governance and administration and to provide basic services to residents of the Republic.

Rated: Ba1/BBB- by Moody's and Fitch respectively.