The place and role of public finance in the modern market economy

At the present stage of development of the Russian Federation, it is increasingly faced with new challenges that affect all areas of the financial system of the state. In this regard, it is advisable to give priority attention to the analysis of the state of public finances, as well as to assess the prospects for their further development. The article examines the place of public finance in the modern market economy, substantiates the need to increase the role of public finance in ensuring the sustainability of the functioning of economic entities in various sectors and spheres of activity, as well as in the implementation of national priorities, the development of an innovative economy. To enhance the role of public finance, there are necessary budgetary resources, which it is important to use rationally in order to develop key sectors of the economy, primarily export-oriented and import substitution.