Socio-economic features of the regions as a fundamental factor in their long-term development

Abstract

The features of the regions in the socio-economic terms determine the development of the national economy and the level of citizens’ well-being. The paper highlights the features of the regions depending on three areas: budgetary, social, and economic. These areas are analyzed using the example of the Central Federal District of Russia. Based on the results of the analysis, the features of the regions within the Central Federal District of the Russian Federation are determined. In addition, perspective directions for the development of the regions under consideration are presented on the basis of improving statistics, monitoring, increasing the salaryindex, reducing the debt load on the population, developing the digital economy, and improving the system of subsidies. The possibility of avoiding the subsidization of regions through the development of innovation and agriculture is also shown. An author’s approach is proposed to determine the characteristics of the region for their future development. The justifying calculations for the applied approach in the framework of the efficiency of the regional economy on the basis of the salaryindex and the determination of the level of competitiveness of the region on the basis of the energy efficiency index are given. The justifying calculation conducted on the basis of the regions of the Central Federal District of the Russian Federation confirms the developed hypotheses.