Increasing public investment in the Russian Federation to facilitate economic growth in the current situation is impossible, therefore the problem of improving their efficiency becomes increasingly important. The above issue has become the subject of many studies showing that public investments effectiveness varies considerably from country to country. It is affected by various factors: structural changes in the economy, sectoral funding distribution, applied mechanisms of planning, management and stimulation. Moreover, analyzing some countries’ experience of economic growth stimulation through public investment it is necessary to take into account their economic and historical situation, the resource base, as well as political attitudes. According to the theory, public investments do not always contribute to the economy dynamic development. At the same time, empirical studies prove that public capital invested in such sectors as transport, communication and education is effective as a whole. An important task is the analysis of mechanisms of priority investment projects state support, existing in the world practice, and their revision with regard to conditions and needs of the Russian Federation.