Innovative development of the economy as the most important factor in ensuring the financial security of the mining region

Abstract

The financial security of the region, being one of the main elements, has a significant impact on the economic security of the Kemerovo region, the largest mining region in the country. The task of the study is to assess the real situation in the financial security of the region and justify the need to develop measures to strengthen it. The article assesses the financial security of the Kemerovo region according to its main criteria: revenues and expenditures of the consolidated budgets of the constituent entities of the Russian Federation per capita; the number of operating credit organizations and their branches per 1000 people of the population; the amount of deposits of legal entities and individuals in credit institutions and bank branches; average amount of individuals’ deposits on ruble accounts with the Savings Bank of the Russian Federation; the balanced financial result of organizations’ activities, etc. In the course of the work, threats to the financial security of the region were identified, which can be solved by conducting innovations. The results of the study can be used to develop a strategy for the development of the region.