The Donetsk People's Republic (DPR) faces the task to restore economy ruined by military operations in the course of the Civil War. Based on the analysis of the present day situation in the national economy, and on the existing and theoretical models of the mankind economic development, the author came to conclusion that the most rational way for the young Republic is the way of accelerated economic development of the region or through the economy of growth. This approach will make it possible to reach, in the shortest possible time, good economic, at the first stage, and then socio-economic indicators. The DPR will be able to restore its economy, and with it the welfare of the people to the prewar level, and then to the level of highly developed countries in case of a fair distribution of the results of the economy growth. In the distant future, the accumulated potential will allow a painless transition to a qualitatively balanced socio-economic model that meets the requirements of the socio-economic feasibility. It is important to ensure the balance of economic, social and environmental components in the development of the world economy in general and that of certain regions in particular. However, current trends indicate an increasingly worsening crisis in the world economic system, with negative consequences for the Earth's environment, social well-being of its inhabitants and, in general, threatens the future of human civilization. Historically, it is predetermined that at each particular stage of human civilization there was one or another socioeconomic formation. The change of formations is a natural process of the progress of human civilization. But the article deals with the application or change of development models within a single formation. The search for new approaches to further socio-economic development of the world community is becoming increasingly important in modern conditions. The time has come when the existing system of the world order is no longer in the interest of all humanity and requires a search for and transition to a new, more balanced socio-economic system. Globally, the solution to this challenge requires an alliance of scientists and practitioners from different countries, perhaps in the framework of the United Nations. At the regional level, the choice of the model of socio-economic development can be chosen from the existing ones to meet the requirements of the moment (for example, in this case, post-war reconstruction of the economy).