GOVERNMENT DEBT MANAGEMENT IN THE SYSTEM OF SOCIO-ECONOMIC TRANSFORMATIONS
Abstract
The article is devoted to the study of the mechanism of public debt management in the system of socio-economic transformations. In the conditions of martial law, the issues of preserving the financial security of the state and ensuring further socio-economic development are becoming more relevant. by this, it is necessary to implement a balanced and effective mechanism of public debt management. The public debt management mechanism is the main tool for ensuring sustainable socio-economic growth of the country while maintaining an appropriate level of financial security and stability. Effectiveness and reasonableness of the public debt management system contributes to maintaining the optimal level of financial security and ensuring the macroeconomic stability of the country. The research method substantiates the main directions of public debt management in the system of socio-economic transformations. For the validity of the research, the dynamics of the state debt in 2012-2024 were analyzed and its structure was determined. The planned indicators of the debt burden in 2024 were estimated. To minimize debt risks, the goals of debt policy should be: promoting the development of domestic national securities markets and increasing their competitiveness; improvement of debt instruments, which will help to direct domestic capital to the development of the real economy, in particular, through the improvement of the system of formation of domestic state loan bond instruments, directing the funds raised to profitable investment projects. It is important to use the priority tools of public debt management in martial law conditions, such as attracting grant funding and long-term loans at preferential interest rates. Risks associated with the growth of public debt directly affect the financial stability and level of financial security of the country. Accordingly, it is important to expand and substantiate the list of instruments for strengthening the level of economic security at the national and regional levels. Based on the research, promising directions for improving the public debt management system have been determined, allowing the debt policy to be implemented more efficiently and effectively.
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