The top three leading regions of economic stability in the first quarter of 2021 included the Moscow, Kursk and Penza Oblasts. The rating is aimed at stimulating economic entities in the regions, and measures to support the administrative units' population.
According to the results of this year's first quarter, Moscow became the leader of economic stability among the Russian administrative units, the Kursk Oblast took the second place, and the Penza Region Oblast - the third place. The study was conducted by the Civil Society Development Fund using the Rosstat data and included 35 of the most powerful, according to the authors, regions.
The rating is based on four criteria. The first is the ratio of the region's state debt tothe consolidated regional budget income, conditionally reduced to the calendar year. The ratio of VAT amounts accrued for the region at the end of the quarter to those accrued at the end of the corresponding quarter of the previous year was also taken into account. Two more criteria are the index of industrial production (in current prices) and the ratio of the regional product amount at the end of the quarter to that at the end of the same period of the previous year.
The leading factor, that helped our region get to the top lines of the rating, was the positive dynamics of the real sector of the economy. Thus, in this year's first quarter, the organisations' turnover amounted to 226.5 billion rubles and increased by 13.8% compared to the same period last year. There is a positive trend in industry (the production index is 114.9%) and construction (the growth in the volume of construction works is 120.3% that of housing construction is 106.7%). Wholesale trade turnover increased by 15.2% compared to the same period last year.
The industrial production index in the Penza Oblast amounted to 114.9% compared to the same period last year.
Photo credit to the Penza Oblast Ministry of Economy