Abstract:

Each country needs an effective government economic policy to achieve the strategic goals of economic and social development.

The most important task of state economic policy is to ensure growth of living standards of the population. One of the tools to achieve this goal is to increase the efficiency of industrial production.

Industry, being the backbone of the economy and the foundation for its development, defines the main characteristics of the socio-economic environment. Therefore, the task of identifying the causes and the development of evidence-based interventions for overcoming the negative phenomena in the industry is one of the most important tasks of public administration. It is necessary to take into account the current development trend. The essence of which is the limited use of extensive factors of development. That’s why, qualitative improvement of the factors of production on the basis of achievements of scientific-technical progress it is a necessity. In other words, it is essential to innovate all spheres and areas of economic activity. The global experience shows that economic and social welfare of the country can only be achieved through innovative development, the result of which is new technologies of production of goods, industry goods etc. It is necessary to carry out technical re-equipment of industrial enterprises to realize this direction of the development.