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The complex of theoretical and practical aspects of financial stimulation of small business development by measures of monetary and fiscal regulation has been studied, proposals on their improvement and application in modern conditions of the Republic of Belarus economy have been developed. The scientific novelty of the research lies in the development of theoretical foundations for the stimulation of small business by measures of monetary and fiscal regulation, ensuring the harmonization of domestic and international approaches to the development of small business in a small open economy of transit type.