Deputy Minister of Economic Development of Russia Dmitry Volvach states that occupied Abkhazia and "South Ossetia" need private investments. "Echo Kavkaza" reports about this.

"Government programs are unlikely to change the situation related to investments. We and you need private investment. Russian investors are ready to make these investments in South Ossetia and Abkhazia," he said.

Volvach pointed to the increase in the share of own revenues in the budget of occupied so-called South Ossetia and Abkhazia.

"For example, in 2013, the share of our own revenues in the budget of "South Ossetia" was 7 percent, now it is almost 20 percent, it has increased from 40% to 50% in the republic of Abkhazia. We hope that the growth of the gross domestic product of the economy of the republics and the growth of their own incomes and salaries will be achieved both in the public sector and in the republics in general," said the Deputy Minister.