Analysis of the state of the equity financing market for national projects of the Russian Federation

the article discusses the issues of business participation in the implementation of national projects. It is noted that the country has accumulated sufficient experience in working within the framework of national projects – about 20 years, in 2006 the first four projects began to be implemented. Over such a significant period of time, the number of national projects has increased, today there are 19, methods of their management are being improved, functions of artificial intelligence are being included. The growth of budgetary financing of national projects is outlined, in 2025 in comparison with 2024 it was 80%. An important task for the Government is to increase the share of extra-budgetary financing for national projects. A decree has been issued that establishes the rules for attracting such sources and defines their standards. The share of extra-budgetary sources varies across projects. The highest level of 87% is expected for the national project "Efficient Transport System," while some projects do not provide for co-financing (Family, Youth, and Children). Overall, the share of extra-budgetary funds is expected to be slightly less than 24%. The article highlights the problems associated with business participation in financing national projects, such as insufficient incentives, financial risks, and information issues (such as providing information to potential investors and managing big data to assess performance).

national projects, shared financing, infrastructure, technological sovereignty, and digitalization