FINANCE. TAXES. CREDIT УДК 336.131 JEL: Н50, Н56, Н60, Н62, Н63, Н68, І30 1Accounting Chamber of Ukraine, Research ID : http://www.researcherid.com/rid/AAV-3875-2020 PUBLIC FINANCE IN ENSURING STABILITY OF THE COUNTRY’S FINANCIAL SYSTEM The structure of public finance in modern conditions is revealed. The dynamics of revenues and expenditures of both the consolidated and the State Budget of Ukraine in 2011–2021, as well as for five months of 2022, is studied. It is established that during the last decades, the budgets were executed with a significant deficit. With the beginning of the Russian Federation’s full-scale invasion of Ukraine, the problems of budget execution intensified. Since significant number of enterprises ceased their activities, serious problems with filling the budget and its execution in terms of expenditures arose. The decrease in revenues caused growing budget deficit and the need to find additional sources of finance to cover budget expenditures. Keywords:public finances; state budget; financial system; budget expenditures; consolidated budget; functions of the state; socio-economic development of the country.
1. Karlin M.I. Public finance of Ukraine. Kyiv, 2008 [in Ukrainian]. 2. Bazylevych V.D., Balastryk L.O. Public finance. Kyiv, 2002 [in Ukrainian]. 3. Foot M. What Is 'Financial Stability' and How Do We Get It? The Roy Bridge Memorial Lecture. United Kingdom, Financial Services Authority. April 2003. 4. Crockett A. The Theory and Practice of Financial Stability. Princeton University, New Jersey, April 1997, available at: ies.princeton.edu/pdf/E203.pdf 5. Radionov Yu. Public finances in the system of socio-economic development of Ukraine. RFI Scientific Papers, 2014, No. 2 (67), pp. 34-43, available at: npndfi.org.ua/docs/NP_14_02_034_uk.pdf [in Ukrainian] 6. Chubenko A., Loshytskyi M., Pavlov D. et al. Glossary on prevention and counteraction to legalization (laundering) of criminal proceeds, terrorist financing, financing of proliferation of weapons of mass destruction and corruption. Kyiv, Vaite, 2018 [in Ukrainian]. 7. Zakhozhay K. Role, functions and objectives of the state budget of Ukraine in the modern social and economic space. Investments: practice and experience, 2017, No. 20, pp. 15-22, available at: www.investplan.com.ua/pdf/20_2017/5.pdf [in Ukrainian]. 8. Bobrovska O. Vectors of the "new economy" and the conditions for their effective achievement. Economy and State, 2022, No. 5, pp. 44-49, available at: www.economy.in.ua/pdf/5_2022/8.pdf [in Ukrainian]. doi.org/10.32702/2306-6806.2022.5.44 9. Zhukova L., Shabaldas N. The impact of the budget deficit on the financial security of Ukraine. Investments: practice and experience, 2021, No. 23, pp. 11-16, available at: www.investplan.com.ua/pdf/23_2021/4.pdf [in Ukrainian]. doi.org/10.32702/2306-6814.2021.23.11 10. Orel V.M. The financial system as an integral part of the economic process of the country. Ukrainian Journal of Applied Economics, 2016, Vol. 1, No. 1, pp. 141-152, available at: dspace.wunu.edu.ua/bitstream/316497/2209/1/20.pdf [in Ukrainian]. 11. Lunina I.O., Bilousova O.S., Tverdokhlibova D.V. et al. Stability of Ukraine's public finance in the long term. Kyiv, 2020 [in Ukrainian]. 12. Lunina I., Bilousova O., Frolova N. The development of fiscal space during the war and in the post-war period. Economy and State, 2022, No. 4, pp. 20-28, available at: www.economy.in.ua/pdf/4_2022/6.pdf [in Ukrainian]. doi.org/10.32702/2306-6806.2022.4.20 13. Snizhko O.V. Financial development of transformational economies: structural and functional analysis. Kyiv, 2009 [in Ukrainian]. 14. Garbar J.V., Kondukotsova N.V. Economic essence of financial policies social and economic development. Economy and Society, 2018, No. 16. pp. 712-717, available at: economyandsociety.in.ua/journals/16_ukr/108.pdf [in Ukrainian]. 15. Malik E.O., Tabakova T.V. The Current State of Public Finances in Ukraine: Priorities, Strategy and Risks. The Problems of Economy, 2016, No. 3, pp. 60-67, available at: www.problecon.com/export_pdf/problems-of-economy-2016-3_0-pages-60_67.pdf [in Ukrainian]. 16. Lupenko Yu., Radionov Yu. Directions for improving the public finance management system of the country. Finance of Ukraine, 2021, No. 8, pp. 47-67 [in Ukrainian]. doi.org/10.33763/finukr2021.08.047 17. Gasanov S., Kudrjashov V., Balakin R. The EU public finance crisis management experience and its implementation in Ukraine. Finance of Ukraine, 2014, No. 7, pp. 17-30 [in Ukrainian]. |