ASSESSMENT OF THE DYNAMICS OF THE ACCELERATED DEVELOPMENT OF THE RUSSIAN FAR EAST
The effectiveness of government initiatives of the Far East development was analyzed based on Rosstat, the Ministry of Finance, Russian Federal Treasury data, the results of sociological surveys of VCIOM and reports of the Ministry for development of the Russian Far East. The authors substantiated the hypothesis that the outstripping growth rate of economy of the Far East is not an objective indicator of socioeconomic development. The authors proposed an alternative approach which relies on simultaneous analysis of budget self-sufficiency and the social sphere. This approach is justified, as the budget policy plays a crucial role in the formation of conditions for sustainable outpacing development of both economic and social spheres. The analysis showed there was a decrease in this primary economic indicator with a reduction in own budget revenues of the Far Eastern regions. Also there were a decrease in the coverage of regional budgets by their own revenues, growth of their public debt and population outflow. The comparative assessment of consumer prices shows that the growth of prices in the Far East is traditionally higher than the average one across the country, and the real incomes of the population in most regions tend to decrease. The authors proved the necessity of outpacing improvement of the living standards of the Far Eastern population and suggested the ways to modify the state policy with an emphasis on social component. The results of the study can be used in project planning of the socioeconomic development of the macro-region.