The article outlines the role of the state social policy in the context of the profound transformation of society, emphasizes the importance of developing a new model of social policy to ensure the social well-being of the population. The article presents an overview of features of the implementation of social policy in Russia and foreign countries. The role of state regulation of the social sphere for the market economy is indicated. The statistical data of the basic socio-economic indicators in Russia are provided, the analysis of links between the social phenomenon – poverty, income inequality and economic growth is presented. Political and economic stability will be ensured subject to a developed social policy. The article stipulates that effective socio-economic regulation and successful activities of the state in the social sphere are conditions for economic growth. The formation of a new social policy in Russia is the most urgent; therefore, the search for new effective socio-economic mechanisms will allow for the equal consideration of the interests of all parties to social partnership – the state, business and the population. The article examines the main problems in the social sphere, indicates the need to introduce new effective measures to use the mechanisms aimed at improving the social well-being of the population, growth in prosperity, the quality of life and the development of the national human potential. The main task of the state is the implementation of an effective set of social and economic policies, based on social justice and equal start, the advancement of society towards the formation of a new market economy for the benefit of all sectors of society that can serve as the motivational basis for economic growth. The functioning of the social state is possible on the basis of the developed economy that is oriented towards all sectors of society; possible ways of developing the social policy are identified. The article proposes measures aimed at increasing public welfare, improving the quality of life of the population, providing citizens with basic social guarantees.

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