[The natality sensitivity to stimulating measures of financial character].

In Russia, a number of financial instruments of state policy, including maternity (family) capital, are targeted to overcome negative demographic situation. The purpose of the study is to determine efficiency of this instrument and to assess degree of its effect on birth rate. The data with open access were used. The differentiation of birth rate was analyzed on the basis of data from the Unified Interdepartmental Information Statistical System. The analysis of cause-and-effect relationship between improvement of state program of maternity capital (2007-2024) and possibility of its transformation into real tool of demographic policy was carried out. The progressive dynamics of changing of conditions of granting maternity capital in accordance with national goals and social economic conditions is revealed. The limitations of implementing this financial tool and prospective conditions of increasing attractiveness of maternity capital as measure of state financial support are highlighted.