Effect of Strategic Planning on the Sustainable Development of Regional Economy

Abstract

The present research featured the issue of regional strategic planning as part of Russian economic system. The research objective was to study the role of strategic planning in improving the sustainable development of local economy. The study was based on the methods of analysis, synthesis, and grouping. The Strategy of Economic Development of Kuzbass through 2035 turned out to be more relevant in its content than previous strategies. The analysis of regional typology helped to identify a wider range of problems that aggravated or appeared over time. The problems were formulated as key priorities aimed at improving the life of local population and boosting the economic growth. The author believes that the main goal of the state regional policy is to reach and maintain a high level of economic development of the region. Regional policy is a set of legislative, administrative, and economic measures aimed at improving the quality of life and productive in the region. The state regional policy has the same economic orientation for all regions, which should be regulated by strategic planning, thus increasing the level of sustainable economic development.