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DOI: 10.15862/16FAOR325 (https://doi.org/10.15862/16FAOR325)

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Gorbunov N.A. Improving the economic efficiency of manufacturing enterprises by ensuring financial stability in the context of tight monetary policy. Russian journal of resources, conservation and recycling. 2026; 12(s3). Available at: https://resources.today/PDF/16FAOR325.pdf (in Russian). DOI: 10.15862/16FAOR325

Improving the economic efficiency of manufacturing enterprises by ensuring financial stability in the context of tight monetary policy

Gorbunov Nikita Andreevich
Financial University under the Government of the Russian Federation, Moscow, Russia
E-mail: nikita.gorbunov2004@gmail.com

Abstract. The period 2024–2025 presents manufacturing enterprises with the challenge of maintaining financial stability amid unprecedentedly high borrowing costs and stricter creditor requirements. This study examines methods and tools for ensuring the financial stability of industrial enterprises as a prerequisite for improving their economic efficiency in the face of expensive debt financing. This paper examines the evolution of theoretical concepts regarding the financial stability of economic entities, systematizes types of financial stability and approaches to working capital formation, analyzes the dynamics of the balanced financial result of organizations based on official statistics, and characterizes the impact of the key interest rate trajectory on the debt burden of the corporate sector. Particular attention is paid to the contradiction between the decline in the total profit of organizations and the reduction in the number of corporate bankruptcies, reflecting the accumulation of deferred financial risks. Based on a summary of scientific publications and statistical materials, the author proposes a structural systematization of the contours of financial stability management for an industrial enterprise under a tight monetary policy, combining the management of capital structure, current assets, liquidity, and operational efficiency. The results of the study indicate that, in an environment of expensive debt, the center of gravity of stability management shifts from external debt financing to the mobilization of internal sources and the optimization of working capital. The practical significance of this work is determined by the applicability of the proposed systematization to financial services of industrial enterprises when developing sustainability policies and building a safety margin in the face of ongoing macroeconomic uncertainty.

Keywords: industrial economics; business efficiency; manufacturing; industrial sector development; financial sustainability; financial sustainability management; working capital; capital structure; key interest rate; sectoral economics

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