PROBLEMS OF THE DEVELOPMENT OF THE FINANCIAL MARKET OF UKRAINE

Abstract

The concentration and centralization of financial resources, organization, classification and redistribution of all financial flows, which are the source of national wealth of any country, takes place in the financial market. During the last decade, the financial market has made a leap in development, starting from the usual cash settlements to the formation of virtual money. Such changes are accompanied by the emergence of new financial instruments with their unique features. All this increases the relevance of the research topic, because a comprehensive analysis of the theoretical and practical foundations of the functioning of the financial market will ensure the proper level of development not only of the state, but also of each person in particular. The role of the financial market is that, through the redistribution of the value of the total social product used for consumption, it is transformed into investment capital, which is used to ensure the expanded reproduction and economic growth of the country. A well-developed financial market stimulates the growth of production and the accumulation of financial resources, which contributes to the development of positive changes. The ultimate goal of the financial market is the efficient distribution of savings among end users. The economic situation in Ukraine requires significant changes, because there are a number of main problems: mobilization of financial resources, underdevelopment and imperfection of the financial system of Ukraine. Russia's military aggression against Ukraine, the financial crisis caused by the coronavirus pandemic, sharp fluctuations in exchange rates cause the financial market to deteriorate. The financial market is one of the main components of the country's financial system, the overall economic stability of the country depends on the efficiency of its development. Today, the financial market plays a very important role, as it has an impact on the development of all sectors of the economy of our country. However, the financial market is constantly undergoing changes and transformations, therefore the issue of ensuring the stability of the financial market, the reasons that disrupt it, and an objective assessment of the current state and financial market of Ukraine is an urgent issue today