PROBLEMS AND PERSPECTIVES OF THE DEVELOPMENT OF PUBLIC SECTOR FINANCE IN THE CONDITIONS OF EUROPEAN INTEGRATION

Abstract

The article defines the essence and structure of public finances and the mechanism of their influence in the country's budget. The features and modern trends of public finances of Ukraine are considered. And their significant impact on the ability of the state to successfully and effectively perform its functions is defined. The article specifies the composition of the public sector. The ways how to promote economic development and ensure the goals of public welfare are outlined. The article substantiates the relevance of the study of issues related to increasing the effectiveness of methods of accumulation and directions for the use of public funds in Ukraine. The most important aspects in which the county works with the public finance system are summarized. The main shortcomings and problems of the functioning of the public finance system have been identified. The main obstacles to successful European integration have been studied. Ways to overcome these problems have been clarified and the main opportunities for further integration with European countries have been outlined. The article proves the relevance of the research into the issues of increasing the efficiency of finance accumulation methods and the directions of public finance allocation in Ukraine. The main problems and current trends in the development of public finances are underlined; the practical recommendations as for increasing their efficiency are put forward taking into account the best domestic achievements and previous experience. The ways of improving the public finance functioning in both profit and expenditure parts are suggested. Their implementation will help to create a reliable financial base of the state, increase the standards of living of the population, encourage the development of entrepreneurship and follow the proclaimed course of European integration as well as allow to build a modern and efficient system of public finance management which is able to provide quality public services, accumulate and distribute the resources effectively prioritizing state development and taking into account the interests of all members of society.