“Russian Regions in the New Economic Conditions” — in Yerevan

Economic growth, largely driven by increased state budget spending, began to slow down as early as 2025. However, sectoral and regional dynamics remain highly uneven.

The lecture will address key questions:

• Which industries and regions are still growing, and where has a downturn begun — and why?

• Is the “wage race,” fueled 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 evolving, and it is essential to follow these changes closely. Simplistic narratives such as “everything is fine” or “everything is lost” fail to reflect reality — the real picture is far more complex.