Economy of the NWFD Regions in 2020: Pandemic Challenges and Prospects

Abstract

The article systematizes the patterns of economic development of the North-Western Federal District (NWFD) in 2020 against the background of political instability, economic crisis and the coronavirus pandemic. Conceptually based on the system of national accounting, statistical data and analytical conclusions are presented on the dynamics of economic indicators at key stages of the economic process (production, income generation and their use), taking into account the availability of operational statistics. The development of industrial production, agriculture, transport, the labor market, the formation of incomes of the population, business and budget, as well as the parameters of consumer, investment and foreign trade demand in 2020 are estimated. Recommendations are given on ways to overcome the crisis phenomena in the economy of the district.