The purpose of the article is to systematize the problems and develop recommendations for improving the innovative development of the economic system of the Russian Federation. The main objectives of the article are: clarification of the content of the concept of “innovative development of the economic system”; systematization of the problems of innovative development of the economic system of the Russian Federation; formation of recommendations for improving the innovative development of the economic system of the Russian Federation. Methodology. The methodological basis of the article is the dialectical method of studying trends and problems of innovative development and a systematic approach. In the process of writing the article, such research methods as analysis, synthesis, induction, deduction, analysis of normative legal acts and statistical information were used, correlation and regression. Results. We have systematized the main institutional, organizational, financial, analytical and methodological problems of ensuring the effectiveness of innovative development of the modern economy of the Russian Federation. Based on the functional analysis, insufficient efficiency of investments in innovations in the economy of the Russian Federation 2012-2023 was revealed. Recommendations have been developed on the formation of a comprehensive federal program to enhance the innovative development of the Russian Federation (for example, for the period up to 2030), which would include measures to tax incentives for innovatively active companies, administrative impact in terms of enhancing the involvement of domestic banks and insurance organizations in innovative processes, measures to intensify the processes of formation, development and improvement of national, regional and local innovative industrial and other industry clusters, to develop mutually beneficial international transfer of advanced technologies with friendly countries.
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