AltSU discussed consequences of COVID-19 for the regional economy

28 February 2021 Department of Information and Media Communications
On February 26, the flagship Altai State University held a round table "Assessment of the consequences of COVID-19 in certain areas of the regional economy".

The event was held both offline and online, so experts from Kazakhstan could join the discussion.

Opening the round table, Vitaly Mishchenko, Doctor of Economics, Professor, Head of the Department of Regional Economy and Management of IIEMIS, noted:

The COVID-19 epidemic has affected the entire economy of the country, but it is important for us to understand that the consequences of the pandemic for each region are specific. That is why we have invited experts to discuss the topic from different perspectives and identify these features. I would like to draw your attention to the fact that a pandemic, like any process, has both negative and positive aspects. Therefore, COVID-19 to some extent even accelerated some things in the economy that were only outlined in 2019.

The first report was made by Valery Mishchenko, Candidate of Economic Sciences, Associate Professor of the Department of Regional Economy and Management of IIEMIS. He stressed that the year 2020 turned out to be very difficult for Russia, but, nevertheless, it was the year when serious positive socio-political changes took place, which, of course, will impact our life. These are constitutional changes that will strengthen the status of our country, a new government, new faces in the state apparatus, which are aimed at high-quality use of investments and economic development. Of course, COVID-19 has become the impetus for the development of pharmaceuticals and medical research.

There were also many negative moments. First of all, this is the March and April self-isolation of 2020, which, according to experts, was carried out at the wrong time, at the same time throughout the country and thus was not adjusted to the regions. In general, we consider a decline in the standard of living of the population to be the main consequence of the pandemic.

This was also noted by the following speaker, Chairman of the board of the non-profit partnership "Altai Union of Entrepreneurs" Yuri Fritz:

We see consumer demand decline in the region, a decrease in average spend and, in general, a decline in the standard of living of the population. As for the business, therefore, due to the pandemic, everyone suffers losses, except, perhaps, the companies producing medicines. For the region's economy to develop, it is necessary to rely on young people, find points of growth, and support manufacturing enterprises.

Another participant of the round table, Head of the Altai Krai Department for Labor and Employment, Nadezhda Kapura, drew attention to the fact that the pandemic affected the labor market of Altai Krai and helped to fight illegal employment:

During the pandemic, about 12 thousand citizens, who belong to the category of long-term unemployed, turned to our Employment Center for help. And we are actively helping them to find official jobs with an officially declared salary. COVID-19 also contributed to the development of the electronic portal "Work in Russia" (an all-Russian database of vacancies). And most importantly, many important decisions were made, which in the future will positively affect the entire country’s economy.

The round table was also attended by Deputy Head of the Altai Krai Administration for the Development of Entrepreneurship and Market Infrastructure Konstantin Slyusar, Professor of the Department of Economics and Econometrics, Head of the Social and Economic Research Laboratory of Altai Krai Alexander Trotskovsky, Chairman of the Committee on Budget and Taxes of the Altai Regional Legislative Assembly Vladimir Ustinov, and many others.

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