STUDY OF THE CURRENT SITUATION AND ANALYSIS OF THE STATE DEBT OF UKRAINE

Abstract

The article considers the state and state-guaranteed debt of Ukraine, its structure, monthly payments on the state debt in 2021. Based on the data of the Ministry of Finance of Ukraine, the dynamics of public and state-guaranteed debt of Ukraine for the period 2009-2021 is studied, the analysis is carried out. Public debt – the total amount of debt obligations of the state to repay received and outstanding loans (borrowings) as of the reporting date, arising from government borrowing. State-guaranteed debt – the total amount of debt obligations of business entities – residents of Ukraine to repay received and outstanding as of the reporting date loans (loans), the implementation of which is secured by state guarantees. In Ukraine, public debt is a total debt obligations to other countries, international economic organizations, others, as well as owners of government securities and other creditors of our country. Unfortunately, the modern economy of the state is in debt and beyond the capabilities of the country, and this creates the need to reduce the expenditure of the budget for investment and social purposes, as well as purposes that are not related to the payment and servicing of public debt. Monetary, budgetary and debt policies of the country interact very closely with each other: public debt affects economic growth, cash flow, inflation, refinancing rate, unemployment rate, investment in the economy as a whole and in certain sectors of the economy, and affects the reduction investment resources in the economy and the destruction of reproductive processes, the decline of economic development. The level of budget support of the state, the stability of its national currency, and, hence, the financial support of international financial organizations, depends on the ways of resolving the debt problem. It is necessary to find ways to improve the mechanisms of management and servicing of the country's public debt, strengthening administrative control over financial flows by the state, use of world best practices, as well as attracting foreign investors, which will create a favorable investment climate in the future.