THE ROLE OF INVESTMENT AND FINANCIAL POTENTIAL IN THE FORMATION OF FINANCIAL AND ECONOMIC STABILITY
Abstract
The article examines the role of investment and financial potential in the processes of formation of financial and economic stability. In periods of financial and economic crises, increased macroeconomic risks, deterioration of the stability of public finances caused by global economic, environmental and geopolitical challenges, the problems of increasing investment potential, attracting new sources of fixed capital financing, reducing the cost of investment resources and improving the conditions for their attraction are actualized. The purpose of the study was to substantiate the importance of investment and financial potential in ensuring financial and economic stability. The article used the methods of systemic and historical-logical analysis, structural-functional analysis, statistical comparisons, and graphical representation. The article makes international comparisons of the investment rate and the share of gross profit in the added value of enterprises; it is proposed to identify the risks of deterioration of the investment and financial potential using a factor approach, based on definitions of the economic essence of the potential; it was found that during the period of the economic crisis, the investment processes of increasing the fixed capital at the enterprise level are suspended, even if there are financial resources for its provision, and in the post-crisis period, they increase; the impact of the risks and challenges of the war period on the level of investment and financial potential of the national economy was revealed, the main trends were assessed and the key factors of changes in investment and financial potential in conditions of financial and economic instability were identified; the influence of profit withdrawal, erosion of the tax base, application of aggressive tax planning schemes on investment and financial potential is outlined; directions for supporting sufficient investment and financial potential in the conditions of the war period have been developed. The practical value of the article lies in the proposals to the legislation of Ukraine in terms of ensuring the development of investment and financial potential, in particular to the Tax Code of Ukraine and the Resolution of the Cabinet of Ministers of Ukraine dated January 24, 2020 N 28 "On the provision of financial state support".
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