Principles of currency control in Ukraine

Abstract

The article is devoted to the study of a complex system analysis of the current state of currency control in Ukraine. The current national financial and currency legislation, secondary legal acts and international experience in the formation of the currency system are considered. It is noted that the experience of recent years has shown that in Ukraine there is an insufficiency of state resources for financing the main tasks of the state, and significant losses of financial resources have been revealed due to violations of financial discipline. Underestimation of the role of financial control in Ukraine led to abuses and violations in the field of financial relations. Therefore, it was the complex economic processes and consequences of the global financial crisis that showed the need to improve the financial and currency policy, as well as a radical change in the paradigm of the organization of the currency control system in Ukraine. It was emphasized that the currency policy is a component of the general economic, namely, the monetary and credit policy of the state, aimed at strengthening the currency and financial position of the country, maintaining its solvency and creditworthiness at a high level, ensuring the inflow of currency from abroad through foreign economic turnover, countering flight capital abroad, attraction of foreign capital. In conditions of large-scale capital flight abroad, lack of sufficient foreign investments in the national economy, martial law - effective currency regulation can change all these negative trends for the better.The activity of any body of state power and local self-government and the state is based on the principles of legality, which are enshrined in the Constitution of Ukraine. Given that financial activity is one of the types of state activity, and currency control is an integral part of such activity, it can be argued that these principles are inherent in both financial activity and currency control.The implementation of the principles of currency control is a necessary condition for ensuring law and order and legality in the process of carrying out financial activities.