Investments in higher education and the efficiency of the use of budgetary funds

Abstract

The higher education system of Russia, in comparison with its closest neighbors, demonstrates a high level of moral and technical backwardness of the educational process. In Russia, higher education institutions use outdated methods of implementing educational activities. The effectiveness of the development of modern society is ensured by the presence of high intellectual potential. That is why a lot of attention should be paid to the system of educational institutions, namely higher educational institutions. Higher educational institutions solve important issues of professional training of specialists, provide society with intellectual resources. The intellectualization of life, including economic life, determines the need for the development of education. Education provides those working in the economy with information, knowledge, skills, and intellectual capital, so the efficiency of higher education institutions is extremely important and impossible without a sufficient level of financial support.