Abstract

Relevance of the research topic. The current stage of socio-economic development of both countries with developed and transformational economies is characterized by uncertainty of the external environment, intensification of globalization processes, which raises the issue of substantiation of financial strategy, specification of its tasks and development of tools for their solution. Formulation of the problem. With increasing volatility of socio-economic dynamics, the COVID-19 pandemic raises the need to develop a public financial strategy that will improve the quality of fiscal risk assessment, develop tools to minimize them, increase coordination of public authorities, reduce unproductive government spending. Analysis of recent research and publications. Problems of formation and implementation of financial strategy in the system of public administration are revealed in many scientific researches of domestic and foreign scientists: J. Keynes, P. Samuelson, J. Stiglitz, S. Kucherenko, L. Levaeva, L. Lysyak, I. Lukyanenko, L. Marmul, V. Makogon, V. Fedosova, I. Chugunova and others. Selection of unexplored parts of the general problem. Increasing volatility of socio-economic dynamics impairs the chances of rapid economic recovery. In this regard, an important task is to develop a public financial strategy aimed at implementing measures to minimize fiscal risks. Problem statement, research goals. The objectives of the study are: to substantiate the role of financial strategy in the system of public administration in conditions of increasing volatility of socio-economic dynamics, the COVID-19 pandemic; to determine the features of the formation and implementation of financial strategy in the system of public administration; to analyze and estimate state budget expenditures. The purpose of the study is to reveal and substantiate approaches to the formation and implementation of financial strategy in the public administration system. Method or methodology of the study. To achieve the goal of the article, a set of general scientific and special methods was used: theoretical generalization and comparison; systemic; comparative analysis; scientific abstraction. Presentation of the main material (results of work). The role of financial strategy in the system of public administration in the conditions of increasing volatility of socio-economic dynamics, pandemic COVID-19 is revealed. Peculiarities of formation and implementation of financial strategy in the system of public administration are determined. The analysis and estimation of state budget expenditures is carried out. Approaches to the formation and implementation of financial strategy in the public administration system are substantiated. Field of application of results. The results of the study can be used in the process of reforming the financial system and its components. Conclusions in accordance with the article. The formation and implementation of a sound public financial strategy is a prerequisite for ensuring the stability of macroeconomic dynamics through the synergy of tools of the components of the public administration system, the development of tools to minimize fiscal risks.

Highlights

  • Формирование и реализация обоснованной государственной финансовой стратегии является предпосылкой обеспечения стабильности макроэкономической динамики за счет синергии инструментария составляющих системы государственного управления, выработке инструментария по минимизации фискальных рисков

  • The results of the study can be used in the process of reforming the financial system and its components

  • The formation and implementation of a sound public financial strategy is a prerequisite for ensuring the stability of macroeconomic dynamics through the synergy of tools of the components of the public administration system, the development of tools to minimize fiscal risks

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Summary

Introduction

Метою дослідження є розкриття та обґрунтування підходів щодо формування і реалізації фінансової стратегії у системі державного управління. Розкрито роль фінансової стратегії у системі державного управління в умовах посилення волатильності соціально-економічної динаміки, пандемії COVID-19. Формування та реалізація обґрунтованої державної фінансової стратегії є передумовою забезпечення стабільності макроекономічної динаміки за рахунок синергії інструментарію складових системи державного управління, виробленню інструментарію щодо мінімізації фіскальних ризиків. Целью исследования является раскрытие и обоснование подходов по формированию и реализации финансовой стратегии в системе государственного управления. Раскрыта роль финансовой стратегии в системе государственного управления в условиях усиления волатильности социальноэкономической динамики, пандемии COVID-19. Формирование и реализация обоснованной государственной финансовой стратегии является предпосылкой обеспечения стабильности макроэкономической динамики за счет синергии инструментария составляющих системы государственного управления, выработке инструментария по минимизации фискальных рисков. Ключевые слова: финансовая стратегия, финансово-бюджетная политика, система управления государственными финансами, финансовая система, государственные финансы, государственные расходы

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