Prospects for the Economic Development of the Republic of Buryatia

Abstract

ABSTRACT The article analyzes the development of the economy of the Republic of Buryatia spanning 2007–2017 and provides two forecast analyses of the republic’s economic development until 2021: the baseline forecast and the optimistic forecast. To generate the forecasts the authors used a dynamic input–output model of the Buryat economy that includes fuzzy parameters. It is shown that under favorable macroeconomic conditions and a sharp increase in fixed capital investment, it is possible to significantly accelerate economic growth in Buryatia. Specific projects that will accelerate economic growth in the republic are discussed.