Impact of COVID-19 on financial security of territorial communities

Анотація

The research highlights the theoretical foundations of financial security of territorial communities and their place in the general system of financial security of Ukraine. It is justified that the key threat to the financial security of the united territorial communities is the COVID-19 pandemic, the source of which is uncertainty. The scientific article presents the approaches of scientists, theorists, financiers and practitioners to the interpretation and disclosure of the economic essence of the concept of “financial security of local communities”. The author's vision of the economic essence of the financial security of the united territorial community is determined. The main threats to the financial security of territorial communities, which have both internal and external nature, have been studied. The marginal rates of change in the physical volume of gross regional product in Ukraine during 2017–2020 are analyzed. The structure of local budget revenues in terms of funds for 2018–2021 has been studied. It is proved that the majority of territorial communities report a significant reduction in tax and other revenues of local budgets during periods of various quarantines and lockdowns. The main indicators of security of local budgets are highlighted. An analysis of the volume of expenditures to combat COVID-19 in terms of regions in 2020. The main indicators of social security in Ukraine have been studied. In particular, the dynamics of gross domestic product, the level of income expenditures, etc. are given. The volume of expenditures for combating COVID-19 in terms of regions in 2020 is analyzed. It is noted that in modern conditions the global challenge to the financial security of communities and the state as a whole is the COVID-19 pandemic, which is a catalyst for real and potential threats with the maximum level of impact on the financial condition of the territories. A study of key indicators of community social security was conducted. Measures to stabilize the situation are given. The obtained results of the research can be implemented in the activities of state structures at the local level in terms of making adjustments to the organization of the system of financial and economic security of communities.

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