Importance The Russian economy has been undergoing the systemic crisis for a long time. The crisis entails deindustrialization of national economy, growing technological gap among leading economies. Neo-industrial modernization may become the only remedy in the situation, since it pursues high technological and science-based production, and subsequently concentrates financial resources. Budgetary policies play a critical role in implementing a new economic paradigm in this respect. Objectives The research evaluates contemporary budgetary policies of Russia in terms of the neo-industrial modernization concept. Methods I applied such general scientific methods and techniques as scientific abstraction, induction and deduction, comparative and matching analysis, synthesis. Results I substantiated the role of the budgetary policies in neo-industrial modernization of the Russian economy and reviewed Russia’s economic growth indicators, key indices of the federal budget (revenue, expenditures, deficit/surplus), functional structure of the investment program in Russia. Conclusions and Relevance I conclude that the current level of budgetary spending is insufficient to launch neo-industrialization and innovative transformation of the Russian economy. Hence, the article presents key areas for improving the budgetary policies.
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