Abstract

To ensure sustainable economic development, the Government of the country continuously accumulates and allocates financial resources. With each subsequent budget period, the needs of the state grow, this is due to the need to maintain an appropriate level of social guarantees and social security, create prerequisites for economic activity, and increase the role of foreign economic activity in the financial activity of the country.In the case of an ineffective financial policy, needs arise that the state cannot provide at the expense of the gross domestic product (national income) due to insufficient amounts of funding sources. Among the well-known sources of additional financing of state functions, there is an increase in the share of taxes and state credit. An increase in the share of taxes can lead to an excessive tax burden, an increase in the level of shadowing of the economy, and dissatisfaction among the population. This necessitates the use of debt instruments both in the national space and outside its borders. In the article, the author examines the peculiarities of the debt policy of Ukraine in peacetime and during the state of war, singles out the characteristic features of the formation of debt resources and the directions of their use. In addition, in the process of analysis, the author singles out the advantages and disadvantages of using debt resources in peacetime and in the period of military operations. In the course of the study, such methods of scientific knowledge as analysis, comparison, graphic methods of displaying statistical information were used. In the process of analysis, the author examines the military bonds of the state loan, the peculiarities of their implementation and potential buyers. The conclusion provides suggestions for improving the process of implementing debt instruments, highlights the advantages and disadvantages of the modern way of financing debt assets. Special emphasis is placed on the inadmissibility of using state financing of own debt resources, which may lead to irreversible economic processes in the future.

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