CONTRADICT INFLUENCE OF PUBLIC BORROWINGS TO THE COUNTRY'S ECONOMIC DEVELOPMENT

The lack of fiscal possibilities of taxation for realization by the state its functions are responsible for budgetary imbalances that are in excess of budget expenditures over revenues. To cover the budget deficit the government resorts to attraction of public loans, which stipulate rise and accumulation of public debt. Developing of effective debt policy and the mechanism of public debt management requires its clear conceptualization. The philosophical and semantic approaches for investigation of public debt' influence to the economy were used for this purpose. Usage of philosophical approach allows studying of multiple aspects of public debt through the prism of such comparable categories as "essence", "phenomenon", "content" and "form". The concepts "debt" and "arrears" were differentiated by means of the semantic approach usage. The article also analyzes the theoretical views of economists of different scientific schools concerning public borrowings and their influence to the national economy. The existing hypotheses of the public borrowings influence to the economy are considered in our article.