THE ROLE OF FINANCIAL POTENTIAL IN IMPROVING OF FINANCIAL STABILIZATION OF REGIONAL DEVELOPMENT

Abstract

In the article factors and conditions of optimal formation and use of financial potential of the region are considered.

The financial potential of the region is considered as the financial basis of its sustainable development, characterized by the unity and interaction of the financial resources of the territory and their untapped sources that can be identified and implemented under certain conditions.

The achievement of financial stabilization of regional development is impossible without an effective mechanism of providing by own financial resources. Therefore, the main task is rational use and search for additional ways to fill local budgets that embody the economic independence of local authorities.

Directions of increase of financial autonomy of local authorities should be the following measures: increase of own revenues and expenditures of local budgets; increase of fiscal value of local taxes and fees; improvement of the mechanism for providing intergovernmental transfers to strengthen its stimulating and controlling roles; extension of powers of local authorities in the sphere of own financial policy; analysis of positive experience in solving social and economic problems at the local level under conditions of limited financial resources and its implementation into practical activities at all levels of public administration.

One of the important components of financial potential is the financial potential of the population. Therefore, an important task in the context of increasing the financial potential of the territories is the search for ways to stimulate the financial resources of the population to "work for the territorial community."

Effective measures of transformation of the financial potential of the population into the financial potential of the region are such as issue of municipal shares (bonds of local loans), in particular, for financing of specific regional development projects; accumulation of free financial resources of the population into the banking system; involvement of financial resources of the population in entrepreneurial activity, own business, self-employment, etc