Subject The article analyzes the structure of investments in fixed capital by sector, source of financing, and from regional perspective. Objectives The aim is to perform a comprehensive review of capital investment structure in the Russian Federation, develop proposals for solving structural problems and smoothing the regional differentiation using the investment in fixed assets indicator. Methods The study employs methods of statistical and cluster analysis. Results In the Russian economy, the majority of capital investments made from own funds of organizations. Against the backdrop of reduced budget financing and limited access to external credit resources, this source of financing is likely to prevail over the medium term. Most of capital investments are channeled to mineral production. High-tech industries face underinvestment problems, and this runs counter to the priorities of the long-term State economic policy. Structural problems are also reflected in significant differentiation of Russian regions in terms of fixed capital investments. Conclusions Competent investment planning at the State level will contribute to solving structural problems of capital investments in the Russian Federation. It should include enabling conditions for borrowings by enterprises, encouraging investment in innovation, reorientation of investments to the most promising sectors of economy, regional balance and more powers and authority to constituent entities to allocate resources and solve investment problems.
Keywords: investment, |fixed capital, budget financing, capital investment, regional differentiation
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