Examined is the historical experience of our country, which in the difficult post-war years took the path of transformations and reforms, later they became an impetus for progress and development. The aim of the article is to identify the reasons, conditions, results and results of economic transformations during the NEP period. Highlighted are the main areas of activity of the Soviet state in the framework of economic reforms during the NEP period. In the process of writing the article, the historical-theoretical method was used. In addition, general scientific methods were applied, i.e. analysis, synthesis, comparison, generalization, the method of an integrated approach and others. This article analyzed the economic reforms carried out by the Soviet state during the New Economic Policy and summed up the results of these reforms. In addition, the factors influencing economic transformations were identified, and the successes and failures that the Bolshevik authorities had to face on the path of economic reforms during the NEP were considered. The authors conclusion is made, that the results of the New Economic Policy include the emergence of financially independent enterprises, overcoming the state budget deficit, the formation of the ruble as a hard convertible currency and the formation of the Soviet credit system. At the same time, the NEP was characterized by the rejection of the harsh methods of war communism and attempts to establish market relations. However, the bureaucratic leadership, which did not accept this relationship, remained.
