Tools to support infrastructure projects in the context of the global fight against COVID-19 pandemic
https://doi.org/10.24833/2073-8420-2021-4-61-57-67
Abstract
Introduction. The article is devoted to the study of mechanisms for supporting infrastructure projects in the context of the spread of the COVID-19 pandemic in the Russian Federation.
Materials and methods. The research materials were normative acts, information and reference materials of ministries and departments, commercial organizations related to the implementation of state policy in the field of development of infrastructure sectors of the economy and elimination of the consequences of the COVID-19 pandemic. Expert opinions, reports of rating agencies, publications in Russian and foreign publications were also used in the preparation of the article.
The following research methods were used: statistical methods, methods of formal logic, description and interpretation, interpretation of normative acts. The study is based on the characteristics and analysis of the main points of the process of implementing state support for infrastructure projects.
The results of the study. The implementation of infrastructure projects during the economic crisis, as long-term experience (since the 30s of the last century) shows, is one of the most important ways to reduce negative consequences due to the multiplicative effect generated during the implementation of these projects.
The most vulnerable infrastructure sectors are transport, energy and social, while the municipal infrastructure suffers to a lesser extent. By the end of 2020, projects either under construction or commissioned, but significantly dependent on consumer demand, suffered the most.
The Russian Federation was among the few countries where significant state support for the implementation of infrastructure projects was carried out in the context of the pandemic. At the same time, a fairly wide and flexible toolkit was used: the provision of preferential targeted budget loans, the restructuring of previously issued budget loans on preferential terms, the financing of projects at the expense of the proceeds from the placement of infrastructure bonds with state support.
Discussion and conclusion. It should be noted that there is a certain sectoral limitation of support measures: for the most part, support measures are implemented in such areas as housing and communal services and transport infrastructure, partly in the fuel and energy sector.
The regulatory provision of state support measures does not differ in consistency. In the guidance documents, it is impossible to single out projects developed directly during the pandemic with a certain accuracy. In addition, given the need for a prompt response to events related to the negative impact of the pandemic on infrastructure development, the absence of clearly defined deadlines for the implementation of certain guidelines in regulatory documents is questionable.
About the Author
D. I. GorodetskyRussian Federation
Dmitry I. Gorodetsky, Doctor of Economic Sciences, Professor, Department of Local Administration and National Politics
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Review
For citations:
Gorodetsky D.I. Tools to support infrastructure projects in the context of the global fight against COVID-19 pandemic. Journal of Law and Administration. 2021;17(4):57-67. (In Russ.) https://doi.org/10.24833/2073-8420-2021-4-61-57-67