Akademik Məlumat İdarəetmə Sistemi
37th International Scientific Conference on Economic and Social Development - Socio Economic Problems of Sustainable Development, Baku, Azerbaijan, 14 - 15 February 2019, pp.391-396
The article points out that ensuring economic security is, first of all, the government's responsibility, since fiscal and monetary policy plays an important role in the general economic policy of the state. Therefore, in order to improve the economy, the state chooses such stimulating instruments of fiscal policy as increasing government spending, reducing taxes or their combination. When implementing a stimulating fiscal policy, a significant impact on economic growth is provided by forms of financing the state budget deficit: borrowing or issuing new money for circulation. Thus, with the increase in the volume of goods and services, the number of employees involved in the process of economic growth proportionately increases, and the income tax on workers and individuals engaged in private and small businesses should grow at a higher rate. The next major component, tax revenue is the tax on net profit of enterprises and organizations. To do this, it is necessary to stimulate the effective application of new technologies and innovations in enterprises and organizations, where it would be possible, in our opinion, to achieve a high growth rate of "net profit". The state in this direction has been pursuing a successful policy of economic development in recent years, which aims at reequipping the economy of nanotechnology and innovation.