Regional Economy in 2020: the Pandemic Has Created Problems in Resource-producing Regions and Large Cities

Natalia V. Zubarevich – Main Researcher of the Russian Presidential Academy of National Economy and Public Administration, Doctor of Geographic Sciences, Professor (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

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.

Key words: regions, resource extractive regions, socio-economic situation of regions, pandemic.

JEL-codes: H72, P25, Q32, R11, R51.