PAYMENT BALANCE AND ASSESSMENT OF ITS STATE
Journal: International scientific journal "Internauka." Series: "Economic Sciences" (Vol.1, No. 21)Publication Date: 2019-01-31
Authors : Bogach Elena; Klymenko Tetyana; Labintseva Elena;
Page : 59-65
Keywords : balance of payments; balance of payments deficit of Ukraine; negative balance; financing the balance of payments deficit and features of its regulation;
Abstract
The article reveals the role of indicators of the country's payment balance, analyzes its current state and dynamics in Ukraine, highlights its essential problems and risks at the present stage. The results of the country's foreign economic activity and the sources of its financing are reflected in the balance of payments, which contains statistical information about all the economic operations of the national economy with other states for a certain period of time (year, quarter, month). The balance of payments is the main instrument of macroeconomic analysis and forecasting, is widely used for determining measures of monetary, fiscal, protectionist policies, as well as for regulating the domestic foreign exchange market. The balance of payments reflects the ratio of payments made by the national economy abroad and receipts from abroad for a certain time. If the amount of receipts exceeds the amount of payments, they talk about the active balance of payments and, conversely, if payments abroad exceed receipts from abroad, the balance of the balance will be passive. The balance of payments is formed under the influence of many factors. The main includes the economic potential of the country; sectoral structure of GDP as well as the country's participation in the international division of labor; income level and cost of services; export demands and import structure; trade and monetary policy; the level of development of the financial services industry; the investment climate in the country and the level of domestic savings; external debt and its restructuring; exchange rate and interest rate policies; agreements with the IMF, etc. The deepening of integration processes and the impact of the crisis on their background make it necessary to monitor the imbalances of foreign economic processes for timely decision-making to neutralize their negative impact. In essence, the state balance of payments makes it possible to assess the complex state of the country's economy, the level of realization of its potential. For these reasons, there is a need for a detailed analysis of the state and dynamics of the balance of payments, as well as the identification of key problems and risks at the present stage. In this paper, an attempt was made to investigate the structure of the payments balance; consider problems and methods of analyzing the balance of payments; identify problems and prospects for the regulation of the balance of payments of Ukraine; analyze the factors affecting the balance of payments of the country and methods of regulating the balance of payments.
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