INFLUENCE OF THE CURRENT GEOPOLITICAL SITUATION ON THE DEVELOPMENT OF INDUSTRY IN ROSTOV REGION

Abstract

Introduction. Currently, the economies of all countries are actively developing, taking into account the latest technological and digital developments. In the Russian economy, the achievements of «Industry 4.0» are actively implemented at industrial enterprises and the first steps are being taken to implement the «Industry 5.0» system. Materials and methods. The economic component of the budget for 2024 is analyzed, focusing on its deficit due to the anti-crisis measures implemented by the state, as well as the increase in military expenditures. These factors significantly affect the budget projections for 2024 and 2025, which may face the risk of unmanageable deficits. Additional analysis shows that the decline in export volumes and the ab-rupt halt in imports of raw materials and products have put Russia in need of urgent structural transformation of the economy. Research results. In order to ensure competitiveness of manu-factured products, industrial enterprises need to actively master the latest developments and move towards the establishment of technological sovereignty. However, the Russian economy is going through a transition period in the context of import substitution policy, which affects the current functioning and development of industrial enterprises in all subjects of the Russian Fed-eration. Discussion and conclusion. This article analyzes the main performance indicators of machine-building enterprises in the context of import substitution and presents conclusions that determine the need to maintain sustainable development of regional industry.