State Financial Policy in Implementing Social Development Tasks

Анотація

The state’s financial policy is a key tool for implementing social development tasks amid economic instability, global transformations, and military challenges. For Ukraine, the issue of forming and implementing an effective financial policy acquires particular importance in conditions of a full-scale war, which is accompanied by a significant budgetary burden and the need to ensure defense capability, support social stability, and facilitate post-war recovery. The article aims to reveal the theoretical and methodological principles for shaping and implementing state financial policy in today’s realities, and to identify effective tools to enhance its impact and the effective implementation of social development tasks. The article pays special attention to assessing the role of financial policy in ensuring economic stability, promoting social justice, supporting human potential, and adapting public finances to crisis challenges. The research methodology presents a complex of general scientific and special methods, in particular analysis, synthesis, scientific abstraction, structural analysis, systemic, institutional, dialectical, and structural-logical approaches. The research is based on materials from the Ministry of Finance of Ukraine and on the results of scientific works in the field of public finance and financial policy. The article reveals the essence of financial policy as a system-forming factor of social development, examines its priorities in the pre-war and war periods, and substantiates the need for an adaptive combination of budgetary, tax, monetary, and social policies. The results of the study indicate that in wartime, the structure of budget expenditures underwent significant changes: the share of defense-sector financing increased, while the share of social expenditures decreased. The effectiveness of financial policy depends on the state’s ability to ensure a balance among financial stability, social support for the population, human capital development, and economic activity. State institutions can use the theoretical approaches to the formation of the state’s financial policy in conditions of instability proposed by the authors to develop relevant regulatory legal acts.

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