Akhmeduev A.Sh.Institute of Socio-Economic Research, Dagestan Science Centre of RAS, Makhachkala, Republic of Dagestan, Russian Federation achmeduev@mail.ru
Importance The article analyzes the socio-economic situation and defines long-term strategic priorities for sustainable development of the North Caucasian Federal District and its constituent entities. Objectives The article aims to assess the state of the economy and social sphere of the subjects of the North Caucasian Federal District, define key factors of the development backlog on major macroeconomic indicators of the country's average level, as well as the rationale for the strategic goals and priorities to overcome the crisis in the real economy. Methods For the study, I used comparative, statistical, logical and systematic kinds of analyses. Results I have identified the main causes of underdevelopment and crisis in the basic industries and justified the priority directions of the long-term socio-economic development and overcoming the chronic backlog. Conclusions and Relevance Chronic backlog of the entities' development in the North Caucasian Federal District is the consequence of missing of public policy of territorial distribution of productive forces and the orientation of investment policies for the operation of easily accessible natural resources, rather than the development and utilization of human capital. I recommend adjusting and updating the strategy for socio-economic development of the North Caucasian Federal District until 2025 and long-term strategy of the constituent entities, and refocusing the regional economic and the investment policy of the State on a balanced spatial distribution of productive forces, improving the quality of life of the population, development and the effective use of human capital.
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