Updating the Socio-Economic Regional Policy Evaluation in Terms of Environmental, Social and Economic Directions

Purpose: The article considers the possibility of the socio-economic regional policy validation based on sustainable development values, which implies priority of environmental and social directions, supplemented by the economic component. Design/Methodology/Approach: An analytical review of targets in the framework of the economy’s "green" model is carried out and the approaches to the alternatives for the socio-economic policy validation are presented in this article. The author analysed some indicators of the economic, social, and economic spheres of Belgorod Region in comparison with a number of other regions. Findings: The analysis makes it possible to conclude that the socio-economic policy of Belgorod Region, from the point of view of its evaluation in the context of environmental, social, and economic components, is carried out at a satisfactory level. To create its full-fledged monitoring, it is necessary to constantly measure the selected indicators in the dynamics of the region, as well as regularly make analytical comparisons with other subjects of the Federal district. Practical implications: The author suggests selecting indicators that characterize the efficiency of socio-economic regional policy directions, such as environmental, social, and economic ones. The approach can be used as the basis for further monitoring, which involves expanding the range of analysed indicators as well as regular calculations and comparisons. Originality/value: The author's approach can become the basis for the development of the regular evaluation of the socio-economic regional policy. This approach is necessary for validating the environmental, social, and economic aspects of the regional policy since the correct evaluation of the ongoing efforts allows to identify problems and take corrective measures in time.