Strategies for financial support of socio-economic development of the constituent entities of the Russian Federation: from theory to practice

The constituent entities of the Russian Federation, in the context of a changing development model, are facing new challenges associated with a high need for financial resources to open new production facilities, modernize infrastructure and improve the population quality of life. The purpose of the article is to develop a concept of a financial strategy for the constituent entities of the Russian Federation that integrates modern financial instruments and mechanisms to ensure the implementation of regional socio-economic development strategies. The study uses a set of methods, including theoretical analysis, qualitative and quantitative methods, as well as tools for statistical analysis for financial data. The author's methodology for qualitative and quantitative assessment of financial support for the implementation of regional development strategies is proposed, including a scale of qualitative and quantitative assessment, tested for the constituent entities of the Russian Federation. The assessment of the approaches of the constituent entities of the Russian Federation to making strategic financial decisions has been carried out. The findings of the study can be used by the state authorities of the constituent entities of the Russian Federation in development, updating and implementation of regional development strategies, organizations of the non-financial sector of economy in the assessment and selection of financing strategies for investment projects, as well as educational organizations of higher education in updating educational and methodological support for curricula on economics. 

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