Turnover of Government Securities and Growth of Public Debt in the Context of Balancing the Interests of the State and Society
Journal Title: Бізнес Інформ - Year 2016, Vol 4, Issue
Abstract
The article is aimed to analyze the dynamics of public debt, issuance of government securities, and prospects of balancing interests of the State and society in the process of the growing debt burden on society. Results of an analysis of the dynamics of public debt together with issue of government debt securities showed that they tend to grow correspondingly with rise in the budget deficit, narrowing the tax base while increasing financing needs of the government's activities. Alone, the process of growth of deficit financing cannot lead to deregulation of the interests of the State and society, causes of deregulation are hidden in the mechanisms for use of debt financing and responsibility for their inefficient use. Lack of strategy in the attracting debt financing, inadequate currency regulation deepen the imbalance in the interests of the State and society, which has a negative impact on the image of the State and is one of the reasons for the opportunistic behavior of society members. It is found out that the solution to the problems identified lies in the improving the regulation of public debt securities, primarily through the identification of strategic priorities for the development of society, formulation of strategy of debt policy and increased transparency of information on attracting and using borrowed funds through the mechanism for issuance of government debt securities.
Authors and Affiliations
Svitlana Onyshko, Tetiana Paientko
Keywords
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