REGIONAL FEATURES AND PROSPECTS OF DEVELOPMENT OF KEY INDUSTRIES OF RYAZAN REGION ECONOMY

Issue № 5, 2017, article № 4, pages 17-23

Section: Problems of efficient management

Language: Russian

Original language title: РЕГИОНАЛЬНЫЕ ОСОБЕННОСТИ И ПЕРСПЕКТИВЫ РАЗВИТИЯ КЛЮЧЕВЫХ ОТРАСЛЕЙ ЭКОНОМИКИ РЯЗАНСКОЙ ОБЛАСТИ

Keywords: REGION, PROFITABILITY, GROSS REGIONAL PRODUCT, FINANCIAL RESULT, INVESTMENTS, MODERNIZATION, BUDGET, LOSS, BALANCED FINANCIAL RESULT

Abstract: Sustainable and forward development of the country is based on financial and social wellbeing of her certain regions. Welfare of each region depends on current state of priority branches of economy which make base of its dynamic development. The primary key industries for the Ryazan region should be considered branches of the sphere of industrial and agricultural production where the additional product is created. Economic sanctions, financial crises have left a negative mark on a condition of economic and social development of the region. Low efficiency is caused by high costs of production and the addresses reducing payback of production, works, and services. Their low level according to forecasts will remain during the next five-year period. Research objective is to search of priority ways of realization of region potential opportunities for improvement of a social and economic situation by means of transfer of management emphases on the sphere of production and effective use of non-current assets. Results of a research show that in the region low return of the fixed business assets (non-current assets), and as a result low profitability of the made production (works, services) in many branches of economy is observed. The conducted researches allow to formulate key conclusions, giving the chance to claim, that the priority attention needs to be paid to modernization and updating of the equipment and technologies in all priority branches of production activity of the region that will provide labour productivity growth, will lower the current costs of production and will increase profitability of financial and economic activity.

Authors: Gusev Andrei IUrevich