Оцінка рівня боргової безпеки України та пріоритетні напрями її зміцнення

Abstract

The article is concerned with assessing the level of debt security of Ukraine at the present stage of its development. Government debt is an important component of the market economy. It is a significant factor that suspends the development of the country and poses a threat to its financial security. That is why the assessment of the level of debt security and its strengthening is a relevant task. To do this, the authors define the importance of key indicators of the country’s debt security. Each basic indicator is analyzed, the characteristic values of each of them are disclosed in accordance with their limits established by domestic legislation. The impact of each indicator on the financial security of Ukraine is displayed. Based on these indicators, the integral indicator of debt security in recent years is calculated by rationing indicators and adjusting their weight coefficients. It is calculated that today the value of the integral indicator is dangerous, which indicates a threat to the debt security of Ukraine. The main reasons that led to the critical state of the country’s debt security were considered, including: the constant deficit of the State budget, the predominance of short-term borrowing and inefficient government debt management policies. The consequences of the impact of today’s level of debt security on the financial security of Ukraine as a whole are researched. First of all, the most vulnerable consequence for the domestic economy is the lack of funds for investment programs of the socio-economic development of the State. The priority directions of improvement of domestic debt policy to strengthen the debt security of the country by improving the structure of government debt and forming a long-term strategy of national and external borrowings are characterized.