FINANCIAL POLICY OF MANAGING THE PUBLIC DEBT OF UKRAINE UNDER THE CONDITIONS OF MARITAL STATE

Анотація

The article reveals the problematic issues in the sphere of public debt of Ukraine. It reveals the economic content and components of the state debt, analyzes the causes, risks and consequences of its growth under martial law. It is substantiated that the level of public debt largely depends on the state budget, the lack of funds, which increases the need for state regulations. The growth of the state debt to the growth of expenses for servicing and repayment of debts, which in case of inefficient management is an unbearable burden for the state budget. An analysis of the volume and structure of the state debt of Ukraine in 2020-2024 was carried out, which showed an increase in the external debt of Ukraine, the share of which in the structure of the total state debt dynamically increased by 59.5% in 2020. to 71.8% in 2024 (as of November 30). It has been established that in the current conditions of russia’s full-scale war against our country, thanks to the world support, Ukraine has extraordinary opportunities to attract loans and provide long-term preferential conditions. An uncontrolled increase in the state debt is a threat to the state’s loss of financial stability and stability of the state of the economy and growth from some creditors. Analysis showed dynamic growth of Ukraine's public debt from 48.9% of GDP in 2021 to 84.4% of GDP in 2023, which exceeds its maximum size. The growth of the state debt increases the debt pressure on the state budget, which in conditions of economic recession, reduction of economic activity and investments due to significant expenses for defense capability, social support of the population affected by the war. Financial policy measures in the field of public debt under martial law should be aimed at ensuring stability and effective use of budget funds for urgent needs. The issue of monitoring the main indicators and indicators of debt security remains relevant, which will contribute to making the right decisions in the field of reducing the debt burden on the state budget now and in the war economy.

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