ENSURING FINANCIAL STABILITY FOR STATE SOCIAL GUARANTEES IN THE CONTEXT OF SOCIO-ECONOMIC TRANSFORMATIONS

Abstract

The article discusses the current issues related to the financial support of state social guarantees in the context of socio-economic transformations. The analysis focused on the dynamics and structure of expenditures in the consolidated budget of Ukraine for social protection and social security. Priority areas included the financing of social assistance for the population, targeted housing assistance for internally displaced persons, subsidies for payment of housing and communal services, as well as state social assistance for low-income families. The analysis covered the amount of funding, the number of recipients, and the amount of payments. It has been determined that the main priorities for financial policy in the area of social protection for the population of Ukraine in the medium term include adapting the mechanisms and tools for financing the social protection system to the conditions resulting from the state of war, aligning social standards with EU requirements, and ensuring the effectiveness of the current social protection system; We need to intensify our efforts to implement the "European Social Fund+" administration mechanism. This will help us attract additional financing for social protection projects, reducing the financial burden on the state budget and social funds. It will also allow us to introduce European best practices and work towards achieving sustainable development goals; introduction of new projects for active labor market development, business financing tools, and business development grant programs utilizing hired labor; adapting the labor market to accommodate individuals with special physical needs, expanding job opportunities, and enhancing labor conditions and standards will help improve social security for the population in Ukraine; gradual approximation to the European basic social standard, including the introduction of the unconditional basic income mechanism; deepening the integration of social standards to ensure openness, transparency, financial discipline, and responsibility in wage management. This will contribute to increasing the efficiency and effectiveness of the state's fiscal policy, the growth of revenues from the payment of a single contribution to mandatory state social insurance, personal income tax, military levy, a single tax that will positively affect the growth of the financial potential of the state, local budgets, and state trust funds.