Макроекономічний вимір фіскальної політики в умовах розгортання глобальної кризи

Abstract

Fiscal policy in the context of global crisis has been analyzed in the article. With the appearance of global crisis processes, threats and macroeconomic imbalances arise, which inevitably lead to a decline in production, shortages of financial resources and a slowdown in economic development in general. Only an effective fiscal policy can ensure the formation of the state budget and the optimal use of expenditures for long-term economic growth and improving welfare of population. Relevance of the article is justified by the fact that fiscal policy in Ukraine today requires new approaches that would be based on the experience of foreign countries and would take into account peculiarities of the domestic economy. The purpose of the study is to analyze current trends in the implementation of fiscal policy in Ukraine, to identify ways and directions aimed at creating effective fiscal mechanisms focused on European norms and standards. The authors analyze dynamics of budget indicators for the period of 2015-2020 on the basis of statistical data. The analysis allows us to conclude that in this period there is a tendency to exceed the volume of state budget expenditures over revenues, which leads to a threatening increase in budget deficit and public debt. Considerable attention is paid to the study of foreign experience. Based on the analysis, it was found that to solve the problem, governments pursue fiscal policies aimed at reducing budget expenditures and increasing the tax burden on the economy. The analysis allows us to conclude that coordination of fiscal mechanisms needs to be improved and strengthened in order to reduce the gap between expenditure and revenue budgets, counter the threats of the global crisis and achieve common goals. The economic strategy of state should be aimed at improving capacity of existing and finding new fiscal mechanisms using world experience.