State regulation of innovative activities by the way of financial support of innovative priorities

Abstract

The article is devoted to the results of the research of the state financial support of strategic priority directions of innovative activity in Ukraine with the purpose of their possible use in substantiation and formation of strategic priorities for 2022–2031. The authors present the results of the conducted scientific work, which show that in 2018 the budget financing of strategic priorities amounted to UAH 291452,83 thousand, which is 12.5 % more than in 2017. It is stated that in the total budget financing of innovation activity, this volume occupies 94.9 %, This is higher than in 2017 and indicates an increase in the efficiency of budget funds used for innovation, as they are directed directly to strategic priorities. Priority 4 “Technological renewal and development of agro-industrial complex” received the largest share (52.6 %) and smallest (1,8 %). – priority 5 “Implementation of new technologies and equipment for quality health care, treatment, pharmaceuticals”. Compared to 2017, budget support for all strategic priorities increased, of which the highest growth was given to priority 7 (ICT) and substantial – priority 2 (transport), which led to a significant increase in the need for innovative ICTs and transport technologies. and some slowdown in the need for innovation in other strategic areas. It is investigated that the overwhelming share of budgetary funds (92.6 %) in 2018, as in previous years, is directed to the implementation of R&D. Expenditures were made from general (0.5 %) and special (99.5 %) funds by three spending units: the Ministry of Education, the Ministry of Environment and the NAAS, with the Ministry of Education, as in previous years, providing financial support to all strategic priorities. The share of budget support relative to nominal GDP is estimated to be 0.0082 % in 2018 (0.0087 % in 2017, 0.0082 % in 2016). It is concluded that in 2018 the real state financial support for strategic priorities of innovation activity was realized at the level of 2016, despite the absolute growth of its volumes. It is revealed that the main problem of state regulation of innovation activity through budgetary support of strategic innovation priorities is their insignificant financing from the General Fund of the state budget. To overcome this problem, it is proposed to take into account innovative priorities in the formulation of state orders and government programs, as provided by law.