Moscow has ranked third on the list of cities around the world with the most effective and balanced economic policy during the COVID-19 pandemic, only behind Seoul and Shanghai, the Moscow-based High School of Economics (HSE) said on Monday
MOSCOW (Pakistan Point News / Sputnik - 07th September, 2020) Moscow has ranked third on the list of cities around the world with the most effective and balanced economic policy during the COVID-19 pandemic, only behind Seoul and Shanghai, the Moscow-based High school of Economics (HSE) said on Monday.
According to the HSE's research, the South Korean capital conducted the most successful economic policy during the ongoing health crisis, while London, Berlin and Montreal lagged far behind and were at the bottom of the ranking.
"Moscow is the third in the ranking, along with Seoul, Shanghai and Singapore, [Moscow] is one of the world's cities that have pursued the most effective and balanced economic policy during the coronavirus pandemic," the HSE said.
The University added that the Russian capital has managed to keep up with Asia's major cities despite a higher infection rate. The HSE mentioned that Seoul, Shanghai and Singapore started easing COVID-19 restrictions before Moscow.
According to the HSE, the success of Moscow, as well as other cities, was linked with a prompt "restart" of the economy after easing coronavirus restrictions. The university also mentioned that Moscow allocated $1.4 billion to tackle the pandemic's negative effects on the economy, and the amount is comparable to the COVID-19 relief funds in Madrid, Berlin and Tokyo.
Russia's second-largest city, Saint Petersburg, occupies the seventh place on the ranking.
