Analysis of current level of economic development in old industrial regions of southern Russia

The study of the level of development of a region is an important tool for comprehension and analysis of the characteristics and trends in the formation of a certain territory from the point of view of the economy. The old industrial regions in southern Russia, such as the Rostov, Volgograd, and Astrakhan regions, play a crucial role in national economic formation. They have a rich history of industrial development and underwent significant transformation during the transition from a Soviet-era industrial structure to a modern, diversified economic system. This circumstance determined the purpose of the article, which is the analysis of key economic indicators of the regions of the south of the country classified as old industrial ones, reflecting the level of their development. The article uses a variety of methods to analyze key economic indicators in these regions, including systematic, economic, statistical, comparative, and retrospective analysis. A study of various economic indicators in the region, including gross regional product, industrial production, retail trade turnover, and agricultural production, was conducted. This made it possible to assess the situation in different regions based on their main industries. The authors offer an algorithm for the calculation of a regional development assessment index that includes economic, social, demographic, and innovative components. It helps understand the overall condition of a region and its potential. The algorithm can be adjusted according to the research objectives. The obtained results and recommendations can be applied to develop an effective development strategy and a set of measures to improve regional policy, which, in turn, can lead to an improvement in the economic condition of old industrial regions, strengthening their positions in the national economic system.