FINANCIAL MECHANISM OF PUBLIC INVESTMENT IN MODERN CONDITIONS
Abstract
The article is devoted to the study of current problems of the functioning of the financial mechanism of public investment in Ukraine. The principles of the transformation of the public finance system aimed at the implementation of infrastructure projects in the context of adapting the investment mechanism to European requirements, as well as in connection with the administrative reform and budget decentralization that took place in Ukraine, were determined. The peculiarities of the formation of sources of public investment are studied, the importance of private-state partnership in the process of implementation of infrastructure projects, which can be valid with the participation of private capital, is updated. Ensuring a high level of efficiency of public investment management to achieve investment objectives and goals in general is determined. The practical features of the implementation of state investment projects, depending on the nature of the investment object, were studied. Practical aspects of planning and implementation of public investment projects indicate that their implementation is mainly aimed at infrastructure improvement measures. In turn, this not only results in the development of the respective territorial community, but also leads to an increase in the production volume of enterprises located in the given territory. The reason for this is that facilitating access to sources of resources and speeding up supply channels accelerates turnover and, accordingly, requires an increase in production volumes. The next consequence of such investments will be an increase in budget revenues, due to which, in fact, the public investment system is implemented. Accordingly, ensuring the effectiveness of the functioning of such a system is the primary task of state authorities Thus, it can be argued that in Ukraine, when the need for post-war reconstruction of the country is growing, it is precisely the well-thought-out system of public investment that is able to ensure not only the restoration of the destroyed infrastructure, but also to stimulate the economic growth of the country in general.
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