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Regional Economy in 2020: the Pandemic Has Created Problems in Resource-producing Regions and Large Cities
[Региональные Экономики В 2020 Г.: Пандемия Создала Проблемы В Ресурсодобывающих Регионах И Крупных Городах]

Author

Listed:
  • Zubarevich Natalia

    (Russian Presidential Academy of National Economy and Public Administration)

Abstract

The COVID-19 crisis has had the greatest impact on resource-producing regions and large cities boasting a developed service sector. The decline in investment was coupled by their concentration in the capital and in the leading regions of hydrocarbon production. The increase in registered unemployment was universal, and the subsequent decline in its level varied greatly by region. A large-scale increase in federal transfers helped increase regional budget revenues, but increased spending led to budget deficits in most regions and increased debt.

Suggested Citation

  • Zubarevich Natalia, 2021. "Regional Economy in 2020: the Pandemic Has Created Problems in Resource-producing Regions and Large Cities [Региональные Экономики В 2020 Г.: Пандемия Создала Проблемы В Ресурсодобывающих Регионах ," Russian Economic Development, Gaidar Institute for Economic Policy, issue 4, pages 81-85, April.
    • Handle: RePEc:gai:recdev:r2148
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    More about this item

    Keywords

    regions; resource extractive regions; socio-economic situation of regions; pandemic;
    All these keywords.

    JEL classification:

    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
    • P25 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Urban, Rural, and Regional Economics
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R51 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Finance in Urban and Rural Economies

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