FOREIGN ECONOMIC POTENTIAL AND ITS IMPACT ON SUSTAINABILITY OF THE REGIONAL ECONOMY

Abstract

The purpose of the article is to study the influence of the foreign economic potential of the subject of the Russian Federation on the stability of its economy. The sustainable development of the regional economic system implies its ability to develop in any conditions. The relevance of the topic of this study is due to the fact that the instability and volatility of the world economy are a threat to national economies and can lead to a crisis in the system. On the other hand, the crisis may become a trigger for the search for new sources of economic growth. The degree of stability of the regional economy is due to the influence of many different factors and requires a balance of indicators characterizing the ability of the region’s economy to expand reproduction, taking into account changes in the external environment. Consequently, the economy of a particular region cannot develop in isolation from other countries, since not all resources for its development can be obtained from the national economy or not all manufactured goods are in sufficient demand in Russia. Under these conditions, the external economic potential is one of the factors and conditions for the sustainable development of the economy of a constituent entity of the Russian Federation.