DEBT POLICY OF UKRAINE UNDER THE REFORM OF PUBLIC FINANCE SYSTEMJournal: University Economic Bulletin (Vol.1, No. 27)
Publication Date: 2015-10-10
Authors : Liubov Lysiak;
Page : 189-195
Keywords : national debt; budgetary policy; national debt management; public finance; fiscal consolidation; reforms;
The scope of research is a set of theoretical and practical issues of the state debt policy in terms of reformation. The research objective is to determine the ways of improving the national debt management in Ukraine and the debt policy implementation in Ukraine under the reform of public finance system. The research methodologies and methods are general scientific and special methods: analysis, comparison, scientific abstraction, etc. The research results. The analysis of public debt as a result of a specific type of budgetary policy and a potential tool for innovation and investment development of the country is carried out. The necessity of effective national debt management with the use of methods is proved. The main directions of the debt policy in Ukraine aimed at reducing its indebtedness are outlined. Conclusions. State debt policy is an integral part of budgetary policy. Therefore, in line with today's economic reforms (decentralization of budgetary relations, expansion of the budgetary rights of local authorities and providing of selfsufficiency of budgetary powers to the regions and self-government bodies) effective debt policy should function in accordance with the strategic and tactical directions of budgetary policy aimed at increasing the efficiency of public expenditure; improving the mechanism of medium-term budget forecast; continuation of optimization the number of budget programs and the amount of the key spending units of budget funds; improvement of program-target method of budgeting; ensuring transparency and openness of the budget process; improving the efficiency of public investment; reduction of the budget deficit; improving the efficiency of debt policy; maintaining a high level of investment expenditures of the consolidated budget; increase of social standards and optimization of social projects expenditures.
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