Згідно з Наказом Міністерства освіти і науки України від 28.12.2019 № 1643
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FINANCIAL RESOURCES OF THE STATE SECTOR OF THE ECONOMY

Автор: Sveta on .

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DOI:  http://doi.org/10.31617/visnik.knute.2019(125)04

UDC 336.13.073.53
 
CHUGUNOV Igor,
Doctor of Economic Sciences, Professor, Head of the Department of Finance
Kyiv National University of Trade and Economics
Kyoto street, 19, Kyiv, 02156, Ukraine


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ORCID: https://orcid.org/0000-0003-4915-1267
 
KUCHER Galyna,
Candidate of Economic Sciences (Ph.D.), Associate Professor of the Department of Finance
Kyiv National University of Trade and Economics


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ORCID : https://orcid.org/0000-0002-1714-5623
 

FINANCIAL RESOURCES OF THE STATE SECTOR OF THE ECONOMY

Background. Public financial resources, reflecting the degree of redistribution of gross domestic product through the budget system, serve as a means of implementing the state’s financial policy, affecting the socio-economic development of the country, administrative and territorial units. Effectiveness and effectiveness of their formation and use contribute to the processes of social reproduction, social protection of the population, ensuring national security. Trends in national and world economic development indicate the importance of state financial regulation, interdependence and multiplicity of financial relations.
Theaim of the paper is to reveal the theoretical foundations and improve the metho­dological provisions for the formation and use of financial resources of the state sector of the economy as a component of social development.
Materials and methods. In this paper, a set of methods and approaches is used, in parti­cular: dialectical, systemic and structural methods are used to reveal the essence and fea­tures of the category "financial potential" in the system of financial and economic relations, and to sub­stantiate the definition of financial resources of the state sector of the economy as a com­ponent of social development. The methods of scientific abstraction, analysis and synthesis have been implemented, in the defined provisions on public finance policy in the field of the formation and use of financial resources of the public sector in the context of the transformation of the economy.
Results. The features of the category "financial potential" in the system of financial and economic relations are revealed. The definition of financial resources of the state sector of the economy as a component of social development, which encompasses a set of financial and economic relations and interconnections related to the formation and use of state financial assets to strengthen the financial potential of the country, which determine role, sources and management mechanism these resources, and serve as a source of financial support for the country’s social and economic development.
The approaches to financing social development projects through the mechanism of public-private partnership, using integrated financing, methodological principles of using the budget deficit as a component of the system of dynamic budget balancing in the conditions of ensuring macroeconomic stability of public finances.
The expediency of determining the financial multiplier as an indicator based on the relationship between the budget expenditures of the state, the growth of the gross domestic product and social development, reflects its importance and directions, discloses its roleand features, and proposes for determining the indicator taking into account changes in trans­parency indicators of society, level of development of the economy, human potential, environ­mental protection, welfare of the population.
Conclusion. Public financial resources are a source of social development form the financial basis of socio-economic development of the country, administrative-territorial units. The financial resources of the state influence the implementation of socially important projects taking into account their priority, the growth of financial potential as a basis for ensuring equilibrium, overcoming the negative impact of the internal and external environment, the for­mation of recovery processes, ensuring the development of society, taking into account national characteristics and cyclicality of the economy. There are important to introduce modern models, mechanisms of integrated financing that will ensure their transparency and allow increasing the financial potential of the state, successfulyand efficiency of public expenditures. In order to ensure the growth of the national economy, it is expedient to increase the effect of the financial multiplier on the priority directions of the country’s social and economic policy and the dynamics of social development.

Keywords: finances, financial resources, budget system, state financial policy, state credit, social development, state sector of economy, financial potential.

 

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