THE IMPACT OF FINANCIAL RISK OF INDUSTRIAL ENTERPRISES ON THE SUSTAINABLE DEVELOPMENT OF THE ECONOMY OF THE REPUBLIC OF MOLDOVA

The financial stability of manufacturing enterprises and the profitability of their activities are the key to the sustainable development of the industry. For the period of 2015-2020 there is a stable growth of key performance indicators of enterprises (sales revenues and net profit), their financial stability is increasing. Based on the existing structure of funding sources and approaches to asset funding, we compare the actual level of the financial leverage ratio with its normative value. Under the conditions of worsening business climate in Moldova under the influence of inflation growth, increase of interest rates, disruption of supplies, higher prices for energy, etc., it is advisable to increase the financial stability of manufacturing enterprises to a level that ensures business financing from own and borrowed sources in equal proportions. The possibility to form a normal level of current assets reserve will make it possible to reduce financial risks and ensure guaranteed profits. According to the results of the correlation analysis it was possible to conclude that the change of manufacturing enterprises financial profitability has a significant influence on the dynamics of production volume, therefore the optimal structure of the capital and efficiency of its use should be a subject of constant control of the management of these enterprises to provide sustainable development.