Analysis of the Ukrainian fiscal policy in the conditions of economic cycle: positive and negative aspects
Journal Title: Формування ринкових відносин в Україні. Збірник наукових праць - Year 2018, Vol 9, Issue 9
Abstract
The aim of the study. Identify the interdependencies that arise in the area of fiscal policy, the possibility of reducing or need to increase the tax burden. Propose effective mechanisms for redistributing state expenditures to improve social standards and economic development. And also to determine how government borrowings affect the socio–economic situation in the country, to determine whether it is possible at this stage of the economy to abandon new borrowings in order to reduce the level of debt dependence of the country. Research methodology. During the research, general scientific and special methods were used, in particular: monographic – when reviewing literary sources on the subject of research; expert–logical – when choosing steps to formulate fiscal policy at certain stages of economic development; system–analytical – at a critical analysis of fiscal policy in the context of certain economic imbalances. Results. It was established that the next accumulation of the country's debt could lead to loss of economic independence of our state, dictation of certain economically unprofitable conditions by external creditors, which will further affect the social and economic well–being of our citizens. It is proposed to change the vectors of the state fiscal policy in the direction of increasing the level of capital expenditures, reducing debt burden from external loans, changing vectors in the direction of raising funds from the internal creditor, reducing the level of tax burden on profits of enterprises in the real sector, which will release funds for reinvestment, expansion of the sphere production, will lead to an accelerated rate of production of gross domestic product. As a basis for economic growth, it is necessary to reduce the level of control over the sphere of production, to de–bureaucraise relations between the state and business, to implement indirect methods of state control, to ensure transparency of the state policy in the field of procurement, to allow the public to take an active part in decision–making in the field of economy, which will allow to increase the level of confidence of international institutions, improve the investment climate in the country, which in turn will be a boost to the development of the economy. Practical significance. The obtained research results are the basis for effective management of economic processes through the prism of the fiscal policy of the state.
Authors and Affiliations
T. Y. MARSHALOK
Keywords
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- EP ID EP420459
- DOI 10.5281/zenodo.1482869
- Views 121
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