Efficiency of the state support for the sustainable development of the real production sector in Russia

Abstract

Sustained and inclusive economic growth is necessary for achieving sustainable development. While economic growth and employment are important for economic security, access to financial services is an essential component of inclusive growth. In the conditions of prolonged crisis the sustainable development of the cities, as well as the real production sector in general, establishes some special requirements to the use of means of the federal budget for the state support of organizations. Reducing of some expenses is inevitable. At the same time the principle of the effective use of the budgetary funds is very urgent. During the research the indicators of activities of the enterprises with the state participation were studied including public companies, companies quoted at the exchange; credit institutions, systemically important companies; companies realizing innovative programs. The authors insist that the efficiency evaluation of the use of means of the government budget should be based on the comparison of the surplus of products from the state support and the amount of the state support for each industry. According the result of the research the conclusions about the low efficiency of the use of state support in the organizations are made in the article. According to the authors’ opinion, it is connected with the actually estimate order of financing. The transition from the estimate financing to the project financing is suggested and proved in the article.