Subject. This article examines the effectiveness of using financial instruments for developing scientific and technological potential and the importance of State budget regulation in this process. Objectives. The article aims to analyze the ways to improve the effectiveness of budget financing of Russia's scientific and technological potential in the context of sanctions pressure and transformation of foreign economic relations, and develop and recommend certain measures for that. Methods. For the study, we used the general scientific research methods. Results. The article proposes an original approach to assessing the effectiveness of budget expenditures aimed at developing scientific and technological potential in the context of fundamental and applied research, as well as subsidizing regions of the Russian Federation to improve the infrastructure of technology parks. As well, the article identifies areas for improving the effectiveness of budget financing for the development of the scientific and technological potential of the Russian Federation. Relevance. The results obtained can be used when developing the main areas of the State budget policy and forming the expenditure part of the Federal budget of the Russian Federation in terms of expenditure on scientific and technological development, taking into account the need to implement the import substitution policy.
Keywords: budget financing, budget regulation, efficiency, scientific and technological development
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