FINANCIAL SECURITY OF THE SCIENTIFIC AREA OF THE REPUBLICOF BELARUS: PROBLEMS AND DIRECTIONS OF DEVELOPMENT

Abstract

The article identifies the most important problems of financing the national innovation system. A comparative analysis of the costs of domestic research and development in the Republic of Belarus and the countries of
the Organization for Economic Cooperation (OECD) has been carried out. The assessment of the contribution of
innovation funds to the financing of research, development and developmental works is given. The low impact of
the results of inventive and patent-licensing activities on the production of innovative products in the Republic of
Belarus has been determined. Comprehensive recommendations on budgetary and extrabudgetary increases in the
funding of research activities are proposed, including measures to increase the science-intensiveness of GDP, improve the processes of commercialization of intellectual property, tax incentives for the production of innovative
products.