BUDGET POLICY AS A TOOL FOR ENSURING MACROECONOMIC STABILITY AND PRESERVING HUMAN CAPITAL DURING WARv

Анотація

Introduction. In conditions of martial law, budget policy becomes crucial as a tool for ensuring macroeconomic stability, supporting the functioning of public finances and preserving human capital. For Ukraine, it is particularly important to ensure funding for defense needs, social protection of the population, health care and education systems, which contributes to maintaining socio-economic balance and creates the conditions for post-war economic recovery. Materials and methods. The information base of the study consists of data from the Ministry of Finance of Ukraine, analytical reports of international organizations, scientific works of domestic and foreign scientists. The purpose of the article is to use a systematic approach to substantiate the theoretical and applied foundations of budget policy as an effective tool for ensuring macroeconomic stability and preserving human capital, as well as to identify the main directions for transforming the financial architecture, taking into account the long-term consequences of the war and the prospects for post-war reconstruction of Ukraine. General scientific and special methods were used to conduct the research, in particular: analysis and synthesis, systematic approach, comparison, generalization, induction and deduction. Results and discussion. Budget policy is an important instrument of state regulation of the economy, providing financial support to key sectors of the economy and the social sphere. During the war, budget policy of Ukraine has evolved from a regime of emergency response (2022-2023) to strategic resource management in conditions of limited fiscal space and asymmetries (2024-2025), and the main task for the government has been to balance significant defense spending with the need to keep the economy from collapsing. The main parameters of budget policy in Ukraine during the war are outlined. It is noted that the effectiveness of budget policy during the war depends not only on the volume of financial resources, but also on the “quality” of fiscal institutions and their institutional capacity to manage state resources. The components through which budget policy should be implemented are presented. It is proven that effective budget regulation contributes to reducing macroeconomic risks and ensures the stability of the financial system. Conclusions. Budget policy in wartime is a key tool for supporting macroeconomic stability and preserving human capital. Its effective implementation contributes to ensuring financial stability, supporting the social sphere and creating the conditions for the country's economic recovery. However, the effectiveness of budget policy implementation is significantly affected by the heavy dependence of the “civilian” budget on external financing and corruption. The transition to independent fiscal support for the labor market is possible through the systematic de-shadowing of the economy and the return of citizens to the country after the end of active hostilities.

Класифікація

Ідентифікатори

Схожі роботи