№ 11/2018

Ekon Ukr. 2018 (11): 28–46https://doi.org/10.15407/economyukr.2018.11.028

FINANCE. TAXES. CREDIT

УДК 336.13:338.2

IEFYMENKO Tetiana¹

¹SESE “Academy of Financial Management”, Research ID : http://www.researcherid.com/rid/https://www.webofscience.com/wos/author/record/HMP-1501-2023
OrcID ID : https://orcid.org/https://orcid.org/0000-0002-9163-3959

SYSTEM OF PUBLIC FINANCE MANAGEMENT IN UKRAINE: PROBLEMS OF ECONOMIC SECURITY

Countering threats to the security of the national economic space should be accompanied by the protection of financial sovereignty by the authorities. The unconditional implementation of the medium-term goals to reduce the growth rates of the country’s total debt (in perspective), improvement of the government regulatory mechanisms for allocating limited resources, a better quality of constitutionally guaranteed public services and support for investment in the real economy sector should be a key guideline for the Public Finance Management System (PFMS).
The author analyses institutional, macroeconomic, political, organizational and information risks that can hinder the successful implementation of measures aimed at ensuring the consistency and predictability of fiscal policy, preventing default situations, etc.
The results of practical implementation of the program documents adopted last year, which regulate the Public Finance Management Reform Strategy 2017-2020 (hereinafter the “Strategy”) and the Action Plan for its implementation, indicate that the lack of coordinated expression of will, as well as a consensus on a unified course of change in society, negatively affects the quality of management of fiscal risks and investment processes and the degree of synchronization of fiscal regulation with other levers of the state’s influence on the success of change management.
It is emphasized that a high degree of dependence on international financial assistance to strengthen economic equilibrium, the need for more intensive development of the national economy and continued structural reforms are highlighted in the recently published report of the European Commission in connection with the anniversary of the conclusion and implementation of the EU-Ukraine Association Agreement.
The author proposes the ways of neutralizing the destructive consequences of any external or internal transformations in the socio-economic system through: (i) equilibrium processes of social reproduction; (ii) intensification of investments; (iii) promotion of entrepreneurship development; (iv) restriction of shadow activities; (v) ensuring the transparency of operations with the state financial assets; (vi) synergistic effect of management interaction between the Government and the National Bank of Ukraine.

Keywords:economic security; public finance management system; instability risks; sustainable development; political consensus; fiscal-tax regulation

Бібл. 8; рис. 5

Article original in Ukrainian (pp. 28 - 46)	Download	Downloads :380
Article original in Russian (pp. 28 - 46)	Download	Downloads :286

The article was received by the Editorial staff on August 13 , 2018

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