The concept and significance of the national debt of Ukraine in the conditions of military status

Abstract

This article is devoted to the analysis of the problems of managing the state debt of Ukraine, which is one of the most important aspects of ensuring the state's debt security. The article reveals the concept of public debt, analyzes its role, and defines the main problems of management. It has been established that there is no single definition of the concept of «public debt» in science. A statistical assessment of state borrowing was carried out and the reasons for the rapid growth of the state debt were substantiated in order to urgently solve the social and economic problems of society under military status. It has been established that state borrowing is considered a source of investment, a means of reducing the impact of the negative consequences of the budget deficit, and is also an effective means of accelerating the growth of the country's economic potential.
 The influence of the state debt on the socio-economic development of Ukraine was studied, and the main causes and consequences of the future increase in external borrowing, which negatively affect the state of social and economic processes in the state and its debt security, were determined.
 A statistical analysis of the dynamics and structure of the state and state-guaranteed debt of Ukraine was carried out. It was determined that, despite the gradual growth of the state debt in Ukraine since 2018, in 2022, due to the war on the territory of Ukraine, there was a rapid increase in the state and guaranteed state debt of Ukraine, which caused an increase in debt pressure on the budget. It has been analyzed that the volume of budget expenditures, which is directed to the servicing of debt obligations, significantly reduces our potential for financing various economic and social programs. It was established that despite the support of Ukraine from Western countries, the country's government still needs international financial assistance.
 Recommendations were made regarding legislative improvement of public debt management, improvement of debt policy to increase the level of debt security of Ukraine.