ASSESSMENT OF THE EFFICIENCY AND ENSURING TRANSPARENCY OF THE USE OF EXTERNAL FINANCIAL RESOURCES IN THE NATIONAL ECONOMY
Abstract
The article examines external sources of financial resources in the national economy. This work presents a study of external financial resources in the national economy. The results show that the volume of funds received in the form of international loans, foreign investments, income from secondary income, international official loans and commercial loans increased from 2020 to 2022. To replenish the state treasury at the expense of revenues to the state budget from investments, it is necessary to promote their attraction, create favourable conditions for investors and develop domestic investment activity. Replenishment of state resources at the expense of secondary revenues to the state budget requires a comprehensive approach and a combination of various measures. Targeted use of the funds coming to the state budget from international loans will ensure economic growth, improve the quality of life of the population and increase the country's international competitiveness. Access to loans from international financial organizations can become an effective tool for national development. Management of the use of revenues to the state budget from international state and commercial loans can help achieve effective results in the field of economic and social development. The evaluation of the effectiveness of the use of external financial resources made it possible to determine that these resources are used inefficiently and do not contribute to the development of various sectors of the economy and the achievement of the country's strategic goals. The slowdown in GDP growth reflects the inefficient use of external financial resources of the state, which indicates the irrational management of these financial resources and does not guarantee sustainable economic development, a decrease in income and quality of life of the population. The growth of inflation harms the effectiveness of the state's use of external financial resources. The negative ratio between export and import indicates that the external financial resources of the state are used inefficiently, and that the economy has problems and needs external assistance.
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