EXPRESS-ANALYSIS OF THE INFLUENCE OF FISCAL POLICY ON SUSTAINABLE DEVELOPMENT OF THE COUNTRY

Keywords: fiscal policy, sustainable development of the country, budget, public debt, model of socio-economic development of the state

Abstract

The article is devoted to the understanding of the problems of ensuring the fiscal policy of socio-economic development of the country, namely: the implementation of an objective assessment of the effectiveness of fiscal policy on sustainable development of the country. It is determined that one of the stages of the latter is rapid analysis. Substantiation of its methodology and its approbation on real factual data is an urgent and unsolved task of today. The purpose of the article is to substantiate the method of rapid analysis of the impact of fiscal policy on sustainable development of the country and identify on its basis the general trends of domestic practice of formation and implementation of fiscal policy to ensure socio-economic development of Ukraine. To achieve this goal, the following research methods were used: economic analysis, modeling, comparison, generalization. Approbation of the proposed method of rapid analysis of the impact of fiscal policy on sustainable development of the country on the actual data of Ukraine for the period 2009 – 2021, allowed to obtain the following conclusions: there are periods when the amount of public and state-guaranteed debt in recent years has exceeded the limit set in the Budget Code of Ukraine; the amount of public and state-guaranteed debt in Ukraine has reached significant proportions and has a negative impact on the sustainable development of the country; there is a clear negative trend of changes in the dynamics of the indicator "the share of public and state-guaranteed debt in gross domestic product"; the value of the indicator "share of redistributed gross domestic product through the general government sector" in Ukraine does not correspond to the chosen model of socio-economic development, and their change in dynamics is characterized by a negative trend; negative trend in the balance of Ukraine's budget policy (taking into account the negative trend of rapid growth of public and state-guaranteed debt); inefficient use of state financial borrowing. The obtained results testified to the low efficiency of the domestic practice of fiscal policy to ensure sustainable development of Ukraine, which became the basis for justifying the feasibility of finding reserves to strengthen the impact of fiscal policy on socio-economic development of Ukraine.

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Published
2022-05-31
How to Cite
Myskin, Y., & Martynenko, V. (2022). EXPRESS-ANALYSIS OF THE INFLUENCE OF FISCAL POLICY ON SUSTAINABLE DEVELOPMENT OF THE COUNTRY. Economy and Society, (39). https://doi.org/10.32782/2524-0072/2022-39-48
Section
FINANCE, BANKING AND INSURANCE