Lecture by Natalia Zubarevich — “Regions of Russia in the New Economic Conditions” at Termina

Lecture by Natalia Zubarevich — “Regions of Russia in the New Economic Conditions” at Terminal

Economic growth driven by increased budget spending began to slow down back in 2025, yet sectoral and regional dynamics remain highly uneven.

Which industries and regions continue to grow, and where has the decline already begun — and why?

Is the “wage race,” caused by labor shortages, coming to an end?

Why did regional budgets deteriorate in 2025, and what can be expected in 2026?

The economic landscape is constantly changing, and it is important to keep track of these shifts. Simplistic narratives like “everything is great” or “everything is lost” fail to reflect reality — the real picture is far more complex.