MODERNIZATION POLICY OR PROMOTION OF INNOVATIONS
The world economy is developing under the influence of numerous multidirectional objective and subjective factors. The most significant of them are: globalization and innovation competition, cyclicality and pace of development of the world economy, scientific and technological revolution and digitalization of the economic system, a change in the paradigm of socio-economic development, terrorist acts, sanctions, etc. The features of the challenges and threats to the external and internal environment exacerbate the problem of choosing priority long-term goals and objectives of development, as well as ways to implement them, the need to rapidly adapt to rapidly changing conditions. Depending on specific situations, the problems of reconstruction of the economic system can be solved depending on the availability of real, personal, informational factors through innovation, modernization, and their combination.