Abstract
Nowadays, it is necessary to consider the impact of the COVID-19 pandemic on the state of the national economy, in particular on the budget system. This paper examines the essence of budget security and identifies the key threats to budget security in the current context. The methodological aspects of calculating Ukraine’s budget security key indicators (their list, criteria for the use of weighting factors, range of characteristic values of budget security levels) are investigated and their state in 2015–2019 is assessed. The influence of quarantine measures on the level of budget security in Ukraine is determined. Analysis of the current state of budget security and development prospects of Ukraine, determined by the Ministry for Development of Economy, Trade and Agriculture of Ukraine, the International Monetary Fund and the World Bank Group, made it possible to predict Ukraine’s budget security indicators for 2020–2021 and define prospects for changing budget security of Ukraine until 2024. Based on the results of forecasting, the need was identified for planning and implementing urgent anti-crisis measures in the field of managing the country’s budget security, as well as ensuring the consistency of the norms of budget and tax legislation in integration with effective measures to support the socio-economic environment of Ukraine.
Highlights
The budgetary component of Ukraine’s economic security is shaped under the influence of many factors transforming the business environment, the changes in vectors and development strategies, as well as relationships in society
It is necessary to consider the impact of the COVID-19 pandemic on the state of the national economy, in particular on the budget system
This paper examines the essence of budget security and identifies the key threats to budget security in the current context
Summary
The budgetary component of Ukraine’s economic security is shaped under the influence of many factors transforming the business environment, the changes in vectors and development strategies, as well as relationships in society. Tax regulation; the nature of the cash execution of According to Sytnyk and Subytska (2018), budget se- the budget; the degree of coordination of financial curity should ensure the financial sustainability and and economic interests of different social groups solvency of public finances, which will allow state (Makarchuk, 2017); high energy intensity of the bodies to effectively perform their functions.
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