THE METHODOLOGY FOR DETERMINING PRIORITIES IN REGIONAL DEVELOPMENT POLICY

Abstract

Policymakers and stakeholders are often faced with the intricate task of allocating resources and attention across various regions in the pursuit of balanced and sustainable development. The methodology for determining priorities in regional development policy plays a pivotal role in guiding these decisions, ensuring efficient resource utilization, and fostering equitable growth. It has been established that regional development forecasting is built in accordance with the general principles of forecasting and, namely, territorial forecasting, such as systematicity and consistency, variability and continuity, reliability and accuracy of forecasts. The problems of regional development are poorly structured, because the formulation of the problem itself cannot be described by a model, which is a function of many variables that take numerical values, the objective function does not have a clearly defined goal, and algorithms for obtaining numerical solutions have not been developed. The policy of regional development is two-dimensional, i.e. it includes directly the policy of the state in relation to the regions, the purpose of which is to ensure the geostrategic interests of the state based on the preferential use of centralized financial resources, and the policy of the regions, aimed at the effective implementation of reproductive processes in the economy, society and the natural environment, for the implementation of which state support is required. The regional development strategy does not define specific areas of activity of regional and local authorities in terms of improving conditions and ensuring the region development, but clearly indicates that local self-government and executive authorities play a key role in determining the areas of regional development. The methodology for determining priorities in regional development policy stands as a guiding compass in the complex landscape of regional disparities and developmental challenges. Through its structured approach, data-driven insights, participatory engagement, and adaptability, this methodology offers a powerful tool for policymakers to navigate the intricacies of fostering balanced and sustainable growth across diverse regions.