Doctor of Economics, Professor at the Finance Department
STATE SPECIAL PURPOSE FUNDS IN THE PUBLIC FINANCE SYSTEM
Background. The emergence of specialized state funds is due to the need to carry out its functions, it formed the need for financial resources. They allow solving important economic, social, ecological tasks by targeted funding, which determines the relevance of the study.
The aim of the article is to study the economic nature of state special purpose funds (SSPF) as part of public finance.
Materials and methods. The study was conducted using the methods of theoretical generalization, comparative analysis, analysis and synthesis, which helped to clarify the features of the economic nature of SSPF.
Results. Background of SSPF was development of commodity-money relations, growing human needs, increasing globalization, transformation of state functions as a result of strengthening its social purpose, worsening problems of environment protection, activation of innovative processes.
Functioning of SSPF has objective and subjective aspects. Subjective one is realized through: provision of social services; support of state innovation policy; creating a favorable investment climate; helping stabilize insolvent enterprises, state security; guaranteeing property rights; ensuring environmental measures. Subjective aspect is manifested through state financial support for specific sectors or categories of business entities; ensuring social protection of certain categories of the population; penalties against violators of environmental legislation.
SSPF activities should be based on the following principles: unity, legitimacy, obligatory, functionality, targeting, systematic, monitoring. The aim of SSPF is that they are a tool of redistribution of national income, to enhance flexibility of public finances, economic growth, protection of economic rights and freedoms, social security, finance of environmental protection measures. The aim of SSPF is reached through the exercise of their functions, which are divided into basic and additional.
Conclusion. SSPF is as an integral part of public finance. They can be seen as an economic category and as a specific institution of public finances. SSPF as an economic category is a set of economic relations on the formation, distribution and use of centralized financial resources to ensure the funding of special programs of different orientation of national and regional destination. From an institutional point of view, SSPF are specialized non-commercial institutions that accumulate both public and private financial resources and use them to finance specific purpose programs. The emergence of new and growth of existing SSPF in modern conditions are influenced by the totality of the problems of various kinds, which the state should solve in accordance with its national interests. The task of SSPF adapt according to the transformation of state functions.
Keywords: state special purpose funds, public finance, principles of state special purpose funds, functions of state special purpose funds.
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