Аннотация:The article is devoted to assessing the potential opportunities for modernizing the Russian economy in the face of external challenges that make it difficult for domestic companies to access international financial markets and technologies. The relevance of the research is due to the need to find our own resources to carry out the required large-scale modernization. The purpose of the study is to assess the production and financial potential in the modernization process. This goal determines the solution of such tasks as: analyzing the current state of the production base, assessing financial resources for upgrading production, identifying opportunities and risks during modernization processes. In this regard, the authors focus on the analysis of factors hindering modernization processes, such as: low level of capital accumulation, inadequate development of the financial services market to the needs of the economy, uneven spatial accessibility of credit institutions.The methodological framework for analyzing production and financial potential is based on identifying the basic non-financial sectors of the economy and the financial market using methods of detailing, grouping, vertical and horizontal analysis, comparison and synthesis.