Siberian Federal District: What Impedes Economic Growth?

Аннотация

The paper discusses how to restore economic growth in the regions of the Siberian Federal District (SFD). It is shown that in 2014–2016 the positions of SFD regions have worsened in most of their indicators. The shares of the SFD in gross regional product, employment, and fixed assets have decreased. An emerging tendency is the decline in the technological level of industry. The consumer market and fixed capital investment are undergoing greater contractions in the SFD than in the rest of Russia. Analysis of the dynamics in public debt and deficits in the consolidated budgets of federal subjects of the SFD shows that these subjects do not have sufficient financial resources for a proactive policy for stimulating economic growth. Recommendations are given on how to reduce the impact of the existing adverse trends in different economic sectors.