SUBSTANTIATION OF PRIORITY OF ACHIEVING THE GOALS OF SUSTAINABLE DEVELOPMENT IN THE IMPLEMENTATION OF FISCAL POLICY

Abstract

Introduction. With the approval of the global process of sustainable development increases the need for its research support. In this context, it is important to systematically use the instru ments of fiscal policy in achieving the goals of sustainable development, which will have a positive effect not only on a global scale, but also improve the socio-economic situation in Ukraine. The purpose of the article is to investigate the relationship between fiscal policy and sustainable development, to argue the priority of using the tools of fiscal policy in achieving the goals of sustainable development, as well as to assess the effectiveness of their use in achieving these goals. Methods. In the exploration of fiscal policy to achieve the goals of sustainable development used general and special methods, namely: comparison, grouping, graphical and tabular analysis. Results. It is substantiated that fiscal policy has a significant potential in ensuring sustainable development, being a kind of public policy, it has an impact on socio-economic processes taking place in the country. It is argued that in Ukrainian practice the use of fiscal policy tools does not provide progress in achieving sustainable development goals. The use of tax and expenditure regulation, as well as the instrument of debt finance occurs in the absence of a strategy for their coordination and subordination to the same target parameters. This leads to growing social gaps and imbalances, worsens the economic situation and the environment. It is proved that achieving the goals of sustainable development will help to improve the socioeconomic situation in Ukraine and the state of public finances. Perspectives. Further research should be aimed at finding ways to achieve defined global goals of sustainable development by rationalizing of government decisions on the synergistic use of fiscal policy instruments.