Transformational processes in the issues of balanced economic development of the regions of the NCFD in the period of increased socio-economic turbulence

The article presents the results of an analysis of the ongoing transformation processes in the issues of balanced economic development of the regions of Russia using the example of the regions of the North Caucasus Federal District in the period 2019-2024. The new goal of balanced regional development is to create conditions for equal development opportunities for all regions of the country in terms of maintaining import substitution processes and increasing opportunities for the growth of the country’s security, improving the quality of life of the local population and the sustainability of the state as a whole. The authors of the paper substantiate the basic principles of transformational processes in balancing the economic development of Russian regions in the first half of the 2020s, which include: consideration of national security, import substitution, socio-economic justice, intersectoral economic interaction, as well as interregional and international cooperation. In general, the new balanced regional economic policy is a tool for achieving uniform development of various regions in the country. The principles of the new transformational regional economic policy make it possible to ensure equal access of all regions to resources and development opportunities, as well as to create conditions for economic growth and development. A balanced regional economic policy based on new principles takes into account the specific features of each region, such as opportunities for an accelerated process in the development of logistics, infrastructure, human capital, etc. Regional development based on a set of balanced indicators and taking into account the rules of accelerated and highly competitive import substitution is an approach that seeks to achieve a development that takes into account not only economic and social indicators, but also various aspects of state security, including in the field of economics and finance.