Objective. To evaluate the socioeconomic impact of COVID-19 in Rostov region. Material and methods. This article focuses on social and economic aspects of COVID-19. By estimating direct medical costs and gross domestic product (GDP) losses (sick leave days), we assessed the economic damage caused by the pandemic in Rostov region. When calculating direct medical costs, we considered per-case costs of completed outpatient and inpatient treatment and costs of laboratory testing (identification of coronavirus). When calculating the costs associated with paid sick leave, we considered the duration of outpatient/inpatient treatment, proportion of working-age patients, and mean salary in Rostov region in 2020. Results. We found that COVID-19-associated direct medical costs and GDP losses (sick leave days) were 3,174,344,917.04 RUB. Almost half (42.7%) of direct medical costs were spent on outpatient treatment. GDP losses were 1,014,047,274.24 RUB. Conclusion. In addition to the direct impact on the health of vulnerable individuals, current pandemic will inevitably cause long-term socioeconomic consequences for both people and the economy. The assessment of the socioeconomic impact of COVID-19 is important to develop effective preventive and anti-epidemic measures, as well as to make optimal management decisions.