Template-Type: ReDIF-Article 1.0
Author-Name: Мykola Dziamulych
Title: Financial security of sustainable development of the region
Abstract: The article examines the specifics of the problems of forming a system of financial support for the sustainable development of the region in modern conditions. It was determined that sustainable development is an important component of modern society, while effective financial planning and management of regional resources becomes a key factor in achieving this goal. The role of financial support in the context of ensuring the sustainable development of the region is analyzed and the main factors affecting it are clarified. It was determined that effective financial support for sustainable development requires solving such issues as investment attraction, distribution of financial resources, optimization of budget expenditures and stimulation of economic growth of the region. It has been proven that in order to achieve the efficiency of the sustainable development of the region, it is necessary to use a comprehensive approach that combines financial, economic, social and environmental aspects. Recommendations are offered to ensure the effectiveness of financial planning and management of regional development, which include the need to create a favorable investment climate, develop innovative financial instruments and support the development of entrepreneurship at the regional level. On the basis of the analysis and comparison of effective financial practices, effective modern approaches and methods that can be applied to ensure the improvement of the efficiency of sustainable development of the region are determined. It was determined that effective financial support for the sustainable development of the region requires effective cooperation between the state, private and public sectors, as well as active public participation in the formulation of the sustainable development strategy. The importance of forming an effective system of financial support for the sustainable development of the region has been proven, and a number of practical recommendations aimed at ensuring its productivity have been determined. The importance of attracting innovative financial instruments, such as green investments, social bonds and sustainable development funds, in the context of financial support for the sustainable development of the region is determined. It has been proven that the implementation of such tools will contribute to the inflow of additional financial resources for the development of environmentally friendly technologies, social programs and infrastructure of the region. The need to take into account social and environmental aspects in the process of financial planning of regional development has been proved
Keywords: sustainable development; regional development; financial support; financial instruments; investment activity
Journal: Economic Forum
Pages: 128-133
Volume: 13
Issue: 3
Year: 2023
Month: September
DOI: https://doi.org/10.36910/6775-2308-8559-2023-3-16
File-URL: https://e-forum.com.ua/web/uploads/pdf/EF_N3_2023_Dziamulych.pdf
File-Format: Application/pdf
Language: en
Handle: RePEc:cuc:eforum:v:13:y:2023:i:3:p:128-133