Abstract
None of the states can fulfill its functions without the relevant and adequate financing which should complete the main task of the state – improvement of well-being of citizens and efficiency of the national economy. During the crisis, structural and deep economic problems emerge, on which system decisions (instead of reactive and declaratory decisions) should be taken. The paper deals with the influence of the economic policy of the state on its budgetary policy; analyzes the key macroeconomic problems of the national economy and defines the consequences; outlines strategic directions for the formation of the efficient budgetary policy of Ukraine. It is established that the only way to overcome the crisis situation in Ukraine is the growth of GDP through the structural reforming of the economy and implementation of coordinated budgetary and monetary policy, shifting the focus from the fiscal orientation towards motivating one. The ultimate question lies in the growth of inclusive development index which would increase the level of competitiveness of the national economy and the standards of living in the globalization space.
Highlights
In the difficult economic conditions of the present time, which are strained even more by the European integration processes, the efficient financial policy is a basis for successful completion of introduced reforms
Budgetary policy of the state is an integral part of the financial policy as a whole, so to fully understand the essence of the budgetary policy, its purpose and objectives it is necessary to determine the main principles of the state financial policy
Financial policy of the state in itself flows from the economic policy, being a tool of its implementation
Summary
In the difficult economic conditions of the present time, which are strained even more by the European integration processes, the efficient financial policy is a basis for successful completion of introduced reforms. Budgetary policy of the state is an integral part of the financial policy as a whole, so to fully understand the essence of the budgetary policy, its purpose and objectives it is necessary to determine the main principles of the state financial policy. Solving of the social and economic problems of the society is not possible without well-balanced and consistent economic policy of the state, which can be implemented only on condition of the sound budgetary policy that would ensure the optimal GDP distribution in the economy and promote increase of the Inclusive Development Index
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