Dynamics of economic growth of regions and its impact on the development of regions of the Northwestern federal district

The article examines the impact of economic growth on the economic landscape of Russia's Northwestern Federal District from 2016 to 2022. Economic growth is essential for the socio-economic development of the country, influencing infrastructure, quality of life, and the social sector. The Northwestern region, with its significant economic potential due to developed infrastructure and abundant natural resources, faces challenges such as insufficient investment for growth. The study analyzes the dynamics of economic indicators in the region during this period, comparing them with the earlier period of 1998 to 2003, and performs a SWOT analysis to assess the impact of economic growth. The research also identifies tools and support measures aimed at enhancing economic development in these regions. The study's theoretical and methodological foundation is based on Russian scholars' work on the role of economic growth in regional and national socio-economic development. The study concludes that the economic space in Northwestern Russia is highly fragmented due to the cyclical nature of economic development. During periods of recession, socio-economic indicators tend to decline, exacerbated by factors such as new government policies, demographic changes, fluctuations in the ruble exchange rate, natural disasters, and global events. This fragmentation hinders the effective utilization of the region's competitive advantages and the realization of interregional economic connections.