Economic Development of the Region and Its Structural Components (on the Example of the Orel Region)

Abstract

Differences in the level of socio-economic development of regions are determined by many conditions and factors, such as: economic, social, political, natural, human, environmental, etc. The main goal of analyzing the socio-economic development of the region is to improve the conditions and quality of life. The article deals with the socio-economic development of the region (on the example of the Oryol region). The author analyzed the dynamics of the main macroeconomic indicators of the region, identified the problems of the region's development, outlined the prospects for the socio-economic development of the region. The assessment of the socio-economic development of the region was carried out using the average values of socio-economic indicators for two and three years. The analysis revealed an imbalance in the dynamics of the main socio-economic indicators of the development of the Oryol region. Some indicators characterized the growth of socio-economic development, others — its decline. An important aspect of the analysis was the consideration of the “Strategy for the socio-economic development of the Oryol region until 2035” in the main areas of its functioning. The effectiveness of the implementation of the planned activities was revealed, the selected indicators were studied, and the degree of their achievement was considered. The result of the study was the author’s view on the definition of the current situation of socio-economic development of the region. The main directions for improving the socio-economic development of the region are proposed, as well as the main methodological provisions are developed, cause-and-effect relationships are identified and priority directions for the development of the Oryol region are substantiated. The modern development of the Oryol region, both at the micro and macro levels, should be aimed at the active use of innovative resources, which will ensure sustainability in its socio-economic development.