Public finance as a component of the financial system
The article focuses on the analysis of the dynamics and current state of development of public finances in Ukraine. Theoretical aspects of the public finance system are considered, namely: their essence, functions and structure, as well as the modern public finance system of Ukraine, its structure a...
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| Format: | Article |
| Language: | English |
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V.N. Karazin Kharkov National University
2021-12-01
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| Series: | Вісник Харківського національного університету імені В.Н. Каразіна: Серія Економіка |
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| Online Access: | https://periodicals.karazin.ua/economy/article/view/18313 |
| _version_ | 1797837782462234624 |
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| author | A. Shainoha |
| author_facet | A. Shainoha |
| author_sort | A. Shainoha |
| collection | DOAJ |
| description | The article focuses on the analysis of the dynamics and current state of development of public finances in Ukraine. Theoretical aspects of the public finance system are considered, namely: their essence, functions and structure, as well as the modern public finance system of Ukraine, its structure and components. Public finance is a key component of Ukraine's financial system, which owns more than half of all financial resources and includes various financial institutions that perform state functions. The multifunctionality of public finances determines their extensive structure, the main component of which is the State Budget. The implementation of the State Budget of Ukraine for nine years (2013-2021) as a key component of public finances was analyzed. The analysis of the revenue and expenditure part of the State Budget of Ukraine for four years (2018-2021) was conducted, and the shortcomings of the formation and use of budget funds were identified.The study identified the main problems and shortcomings of the public finance system of Ukraine, where the central place is occupied by problems with the formation and use of budget funds and inefficient functioning, resulting in persistent budget deficits, rising debt burden and tax pressure on the population. To eliminate the budget deficit, it is necessary to reduce the number of expenditure items and conduct careful control over expenditures. This paper has developed proposals to improve the state and efficiency of the public finance system, eliminate existing problems of revising and reducing the share of expenditures, increase revenue through non-tax revenues and give autonomy to local governments, which will reduce excessive centralization of the budget system and improve financial position of the state. |
| first_indexed | 2024-04-09T15:31:17Z |
| format | Article |
| id | doaj.art-8093836c178c48548fa3c7c0d693f306 |
| institution | Directory Open Access Journal |
| issn | 2311-2379 |
| language | English |
| last_indexed | 2024-04-09T15:31:17Z |
| publishDate | 2021-12-01 |
| publisher | V.N. Karazin Kharkov National University |
| record_format | Article |
| series | Вісник Харківського національного університету імені В.Н. Каразіна: Серія Економіка |
| spelling | doaj.art-8093836c178c48548fa3c7c0d693f3062023-04-28T08:22:09ZengV.N. Karazin Kharkov National UniversityВісник Харківського національного університету імені В.Н. Каразіна: Серія Економіка2311-23792021-12-0110114815510.26565/2311-2379-2021-101-1518313Public finance as a component of the financial systemA. Shainoha0V.N. Karazin Kharkiv National UniversityThe article focuses on the analysis of the dynamics and current state of development of public finances in Ukraine. Theoretical aspects of the public finance system are considered, namely: their essence, functions and structure, as well as the modern public finance system of Ukraine, its structure and components. Public finance is a key component of Ukraine's financial system, which owns more than half of all financial resources and includes various financial institutions that perform state functions. The multifunctionality of public finances determines their extensive structure, the main component of which is the State Budget. The implementation of the State Budget of Ukraine for nine years (2013-2021) as a key component of public finances was analyzed. The analysis of the revenue and expenditure part of the State Budget of Ukraine for four years (2018-2021) was conducted, and the shortcomings of the formation and use of budget funds were identified.The study identified the main problems and shortcomings of the public finance system of Ukraine, where the central place is occupied by problems with the formation and use of budget funds and inefficient functioning, resulting in persistent budget deficits, rising debt burden and tax pressure on the population. To eliminate the budget deficit, it is necessary to reduce the number of expenditure items and conduct careful control over expenditures. This paper has developed proposals to improve the state and efficiency of the public finance system, eliminate existing problems of revising and reducing the share of expenditures, increase revenue through non-tax revenues and give autonomy to local governments, which will reduce excessive centralization of the budget system and improve financial position of the state.https://periodicals.karazin.ua/economy/article/view/18313public financesbudgetfinancial systembudget deficit |
| spellingShingle | A. Shainoha Public finance as a component of the financial system Вісник Харківського національного університету імені В.Н. Каразіна: Серія Економіка public finances budget financial system budget deficit |
| title | Public finance as a component of the financial system |
| title_full | Public finance as a component of the financial system |
| title_fullStr | Public finance as a component of the financial system |
| title_full_unstemmed | Public finance as a component of the financial system |
| title_short | Public finance as a component of the financial system |
| title_sort | public finance as a component of the financial system |
| topic | public finances budget financial system budget deficit |
| url | https://periodicals.karazin.ua/economy/article/view/18313 |
| work_keys_str_mv | AT ashainoha publicfinanceasacomponentofthefinancialsystem |