Framing public financial policy: transforming the classic concept in the time of digitalization

The financial policy of the state is framed and persued on the basis of the country's strategic development plans. Today special attention is paid to approaches to planning given the achievements of digital economy. The paper characterizes the changes that have taken place in the financial policy planning of the state following the digitalization of the economy. It is stated that when the financial policy of the state is planned in the time of digitalization, new approaches should be used so that the national financial system can adapt and react flexibly to internal and external crises, shocks, transformations. The importance of transforming public financial policy planning on new grounds is justified by the results of the country comparative analysis of indices Networked Readiness Index 2018 and Open Budget Index 2017. It is stated that in Russia the financial policy of the state must consider a whole number of innovations, for example a new construction of budget rules formulated by the RF Ministry of Finance. By and large, introduction of up-to-date technologies when registering information, analyzing, controlling and making decisions is a need and actively developing in the public sector. It leads to changing the form in which the public sector of the economy is governed in the time of digital reality. As a result of the study, it has been found out that public financial policy planning on the basis of the achievements of digital economy can create the foundations for the national financial system to react swiftly to the changes occurring in the national economy and reflect them in the financial plans of the country in due time.