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An Analysis of the Current Status of Financing the Regional Development (on the Example of Odesa Region)
Savastieieva O. M.

Savastieieva, Oksana M. (2020) “An Analysis of the Current Status of Financing the Regional Development (on the Example of Odesa Region).” Business Inform 1:317–323.
https://doi.org/10.32983/2222-4459-2020-1-317-323

Section: Finance, Money Circulation and Credit

UDC 336.152

Abstract:
The article is aimed at researching the basics of ensuring the development of Odesa region and formulating the relevant recommendations. The organizational foundations for ensuring the formation and implementation of the State regional policy and its regulatory provision are defined. Regional development tendencies are analyzed by identifying the main strategic directions of the regional development of Odesa region, an analysis of the programs financed from the regional budget and the investment projects financed by the State regional development fund in 2018–2019 is carried out. The preponderance of financing of the investment projects related to the sphere of so-called «solid infrastructure» is determined: construction, capital repairs, reconstruction of social facilities, which, in turn, creates a risk of gradual transformation of the State regional development fund into a fund to finance investment programs and projects that have no connection with ensuring the economic development of regions, i. e. those that do not have any investment and innovation components. Appropriate recommendations are proposed towards improving the procedure of evaluation of the investment projects submitted for consideration in order to determine the extent of their actual strategic impact on the territorial development; expanding the list of investment projects aimed at ensuring the formation of the proper business environment and improving business ability; building a clear system of criteria for determining the amount of government financing for individual regions, etc.

Keywords: decentralization, local budgets, regional development, development budgets, government financing.

Tabl.: 2. Bibl.: 9.

Savastieieva Oksana M. – Candidate of Sciences (Economics), Associate Professor, Department of Finance, Banking and Insurance, Odesa I. I.Mechnikov National University (2 Dvorianska Str., Odesa, 65000, Ukraine)
Email: [email protected]

List of references in article

Savastieieva, O. N. et al. “Analysis of basic conditions for implementation of decentralization reform in Ukraine and Poland“. Finansovo-kredytna diialnist: problemy teorii ta praktyky, vol. 2, no. 29 (2019): 403-411.
Savastieieva, O. M. “Model zabezpechennia rehionalnoho rozvytku v umovakh detsentralizatsii“ [Model of Provision of Regional Development in Decentralization Conditions]. Problemy systemnoho pidkhodu v ekonomitsi, vol. 2, no. 1 (2019): 47-53. DOI: https://doi.org/10.32782/2520-2200/2019-1-30
Davymuka, S. A., Kuibida, V. S., and Fedulova, L. I. “Tendentsii rozvytku novoi rehionalnoi polityky krain-chleniv Yevropeiskoho Soiuzu“ [Trends of New Regional Policy Development in EU Member States]. Rehionalna ekonomika, no. 1 (2019): 76-87.
Melnyk, A. “Upravlinnia resursamy terytorii v konteksti yevropeiskoi ta natsionalnoi polityky rehionalnoho rozvytku“ [Territorial Resource Management in the Context of European and National Regional Development Policy]. Visnyk Ternopilskoho natsionalnoho ekonomichnoho universytetu, no. 3 (2018): 7-22.
Hrynchuk, Yu. S., and Koval, N. V. “Normatyvno-pravove zabezpechennia formuvannia ta realizatsii derzhavnoi rehionalnoi polityky“ [Regulatory and Legal Provisions of Establishment and Implementation of the State Regional Policy]. Investytsii: praktyka ta dosvid. 2019. http://www.investplan.com.ua/?op=1&z=6549&i=1
“Zvit pro rezultaty audytu efektyvnosti vykorystannia koshtiv derzhavnoho fondu rehionalnoho rozvytku“ [Report on the Results of the Audit of the Efficiency of use of Funds of the State Regional Development Fund]. Kyiv, 2019. https://rp.gov.ua/upload-files/Activity/Collegium/2019/7-1_2019/Zvit_7-1_2019.pdf
[Legal Act of Ukraine] (2015). http://oblrada.odessa.gov.ua/wp-content/uploads/32-VII.pdf
“Rishennia Odeskoi oblasnoi rady «Pro oblasnyi biudzhet Odeskoi oblasti na 2019 rik»“ [Decision of the Odessa Regional Council "On the Regional Budget of the Odessa Region for 2019"]. http://oblrada.odessa.gov.ua/wp-content/uploads/913-VII.pdf
“Derzhavnyi Fond rehionalnoho rozvytku“ [State Regional Development Fund]. Derzhavna kaznacheiska sluzhba Ukrainy. https://www.treasury.gov.ua/ua/kaznachejstvo-informuye/derzhavnij-fond-regionalnogo-rozvitku

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