Pandemic and Regions: January-August 2020 Takeaway
5 Pages Posted: 13 Nov 2020
Date Written: November 12, 2020
Abstract
The majority of Russian regions reported decline in industrial production especially linked to the export oriented industries and automotive industry. Decrease in investments came amid their concentration in major agglomerations and oil and gas production areas. Commissioning of housing was declining in the majority of regions. Growth in part-time employment was coupled with a rapid increase in registered unemployment. Decline in the consolidated budgets’ proper revenues was offset by federal relief but not for all regions to the full extent. The majority of RF subjects will end 2020 with a deficit due to a rapid growth in regional budgets expenditure on health care, social policy and the economy.
Keywords: Russian economy, regions, COVID-19
JEL Classification: I18, I19
Suggested Citation: Suggested Citation