Financial Implications of Territory Development Priorities Management in the Modern Constraints and Challenges

The relevance of the study is due to the importance of choosing, maintaining or adjusting the development priorities of the territory in conditions of economic and financial instability. The set of development priorities may be subject to negative external influences, which requires appropriate decisions and leads to certain financial consequences.

The purpose of the research is to justify the financial implications of choosing a particular option for managing the development priorities of the territory and to assess the preference for choosing a specific option. The objectives of the research are determination of a set of options for managing development priorities; expanded interpretation of the content of each option; assessment of consequences when choosing a management option for the budgets of the territories.

The scientific and practical significance of the research consists of the possibility of developing approaches to managing territorial development based on a set of management options and assessing their financial consequences, of developing and clarifying the content of planned and forecast documents in the regions and municipalities of the Russian Federation taking into account the expected financial consequences of choosing one of the options.

According to the results of the research, it was proved that maintaining the selected development priorities with appropriate financial support is the most promising option, ensuring the previously determined pace of territorial development, but at the same time characterized by high risks with a possible shortage of financial resources. The choice of options involving the adjustment of priorities with a revision of funding, or the rejection of previously established priorities, are more critical for the territory in terms of solving pressing problems, but at the same time involving more significant savings in financial resources and the possibility of their further redistribution to more significant areas.

The scientific novelty of the work lies in the comprehensive justification of options for managing the priorities of the development of territories based on a combination of approaches of the regional economy and financial science.

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