THEORETICAL PRINCIPLES OF ENSURING FINANCIAL SECURITY OF THE REGION

Abstract

The article examines the essence of the concept of «financial security» of the region. The main tasks, goals and principles of the financial component system in the system of economic security are defined. The main factors that endanger the economic activity of the region are separated. The components of the appropriate system of ensuring the financial security of the region are highlighted.The article defines the object and subjects of the financial security system. It was noted that the goal of ensuring the financial security of the region is the development of countermeasures against threats of a financial and economic nature and ensuring the stability of its development. The system of ensuring financial security is defined as a management process that involves creating conditions for compliance with the limit values of all elements of the region’s financial security and countering threats to their condition.In today’s world, the problem of financial security is very important for the regions. Financial security is one of the most important characteristics of the financial system, which reflects its capabilities to fully function, provide the region with financial resources, promote the development of the economic system. Modern globalization processes taking place during regional development form economic relations. Various problems and contradictions in these relations are sources of threats for economic security in general.Key components of the state’s financial security include debt, budget, tax, monetary, banking, currency security, security of the stock and insurance market, social sector and business entities. In this direction, the indicators characterizing the level of the corresponding component of financial security are characterized. The conclusions substantiate the key tasks of increasing the financial security of the regions of Ukraine: increasing the income of the population; development of innovative infrastructure; activation of investment activity, including measures to ensure the investment attractiveness of the region and improvement of work with potential investors.