FISCAL POLICY: THEORETICAL AXIOMS AND APPLIED ANTITHESES

The subject of the study is the main theoretical and practical issues of the fiscal policy implementation. The purpose of the article is to study theoretical postulates that reveal the essence and peculiarities of fiscal policy, as well as assess the problems of implementing fiscal policy in Ukraine. The research hypothesizes that the government's moves towards the most favourable financial environment will allow the Ukrainian economy to make better use of the potential of market institutions (insurance, credit, banks, etc.) in the budgeting process and direct the fiscal policy towards easing the tax burden. The purpose and hypothesis of the study determine its tasks. Methods of the research. In accordance with the logic of the scientific search, the article used theoretical analysis, including consideration of individual traits and identification of new characteristics of problems, comparison, mathematical and statistical methods. The results of the work. It is shown that the transformation of the role and functions of the state in society influence the formation and evolution of fiscal policy. The accent is made on the ambiguity of the interpretation of fiscal policy by the scientific community. It is proposed to consider the concept of «fiscal policy» in a broad and narrow sense; in terms of objective and subjective signs; economic content and forms of manifestation, etc. Fiscal policy is a powerful tool for economic development of the country. The priority directions of fiscal policy are named. A weighted approach to shaping and implementing fiscal policy requires taking into account the influence of exogenous and endogenous factors that determine decision-making. In addition, when developing the main directions of fiscal policy, the state should proceed from the need to maintain financial stability and prevent the fall of the standard of living of citizens. Explored is the discrepancy between the strategic goal of fiscal policy and ways to achieve it, as well as a number of other contradictions inherent in modern fiscal policy in Ukraine. Sphere of application. The bodies of the financial system, including the fiscal service, financial departments, tax inspections. Conclusions. Ukraine needs to continue political and economic reforms, resolutely fight corruption, actively implement privatization, deepen tax reform, including improving tax legislation.