ANALYSIS OF FINANCIAL SECURITY OF THE VOLGA FEDERAL DISTRICT REGIONS

Abstract

The financial security of the region is an important element of economic security. It reflects the region's ability to support sustainable development, counter internal and external threats, and ensure the fulfillment of socio-economic objectives. In recent decades, financial security issues have become particularly important in the context of global challenges faced by countries. In Russia, as in many other countries, there are a number of financial problems that require careful analysis and reflection. This article discusses some theoretical aspects to understanding the essence of the financial security of the region and methods of its assessment. An analysis of the available approaches to understanding the essence of the financial security of the region allowed us to identify the key characteristics of this economic category: budget balance; debt management; the ability to attract investments and effectively manage financial resources. An analysis of the methods for assessing the financial security of the region proposed by domestic researchers has shown that they are mainly based on an indicative system of indicators, the deviation of which from the norm or threshold will indicate the presence of threats to the stability of the financial system of the region. It can be concluded that there is no single methodological approach to the selection of indicators included in the system of assessing the financial security of the region, in addition, the proposed methods are either difficult to implement or insufficiently universal. The article presents the results of an analysis of the financial security of the Volga Federal District regions using the debt sustainability assessment methodology. The analysis conducted by the authors showed that the financial condition of the regions of the Volga Federal District tends to improve, especially in terms of reducing the debt burden and its maintenance costs.