FINANCE. TAXES. CREDIT УДК 336.143: 336.27 JEL: H12, H54, H62, H63 1Scientific and Research Financial Institute of the Academy of Financial Management, Research ID : http://www.researcherid.com/rid/https://scholar.google.com.ua/citations?user=vzk_3BQAAAAJ&hl=uk STRATEGIC PRINCIPLES OF PUBLIC DEBT MANAGEMENT The war waged by the Russian Federation against Ukraine led to a sharp rise in the risks of revenue mobilization and increase in expenditures. The need to attract significant amounts of additional resources, in particular, by expanding borrowing has arisen. A significant increase in debt financing was not foreseen in the medium-term plans, which complicates management decision making during the war. At the same time, debt financing from internal sources is carried out with insufficient activity of private investors. As a result, a tendency towards an increase in the share of domestic government loan bonds owned by the National Bank of Ukraine and banks strengthened, leading to aggravation of financial stability risks. The need to introduce significant changes to the management of public debt obligations, first of all, to update strategic approaches that would involve solving not only current problems, but also those emerging in long- and medium-term perspective, became apparent. To this end, it is necessary to determine the principles of the public debt management strategy not only during the war, but also in the post-war period, to substantiate proposals and recommendations on introducing changes for its implementation. Keywords:public debt; government borrowing; debt instruments; critical infrastructure; sustainability of public finance; debt restructuring; refinancing of debt obligations.
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