After June 1941, the Soviet budget was no longer the same. Marking the end of peaceful life, budget revenues dwindled, and the Treasury was drained of billions of rubles. But because the war required money, the government had to find it from somewhere. Oleg Khlevnyuk, Professor at the HSE University’s School of History, examines the Soviet Union’s wartime and post-war financial policies in his paper.
Moscow Ranks among World’s Top Three Major Cities Implementing Effective Economic Policy During the Coronavirus Crisis
Researchers from HSE University conducted a study of 15 of the world’s largest cities in Europe, Asia, and North America that assessed the cities’ labour market activity, post-quarantine economic recoveries, and the extent to which their digital infrastructures were prepared for the crisis. The study showed that Seoul and Shanghai, followed by Moscow, dealt with the crisis most effectively. Singapore and Stockholm ranked 4th and 5th, respectively.