The article concerns the research related to regional financial autonomy of local government during the global economic crisis. This crisis, as the fundamental cause of the economic downturn, has affected significantly the increasing indebtedness of local government authorities. The study focused also on the social and economic problems of Polish regions and their financial consequences. The Author points factors which could improve the management efficiency which is necessary to preserve the regional independence. These are the development of entrepreneurship, amendments to existing legislation, the effective tax collection and utilization of the EU financial aid.