Financial strategy in the public governance system

Relevance of the research topic. The current stage of socio-economic development of both countries with developed and transformational economies is characterized by uncertainty of the external environment, intensification of globalization processes, which raises the issue of substantiation of financ...

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Autor principal:	Alla Chornovol
Formato:	article
Lenguaje:	EN RU UK
Publicado:	Hryhorii Skovoroda University in Pereiaslav 2021
Materias:	financial strategy financial and budgetary policy public finance management system financial system public finance public expenditures Economic growth, development, planning HD72-88 Economics as a science HB71-74
Acceso en línea:	https://doaj.org/article/cf158ed9d0fe44aebc5fb7791e35a4cc
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spelling	oai:doaj.org-article:cf158ed9d0fe44aebc5fb7791e35a4cc2021-11-08T15:53:47ZFinancial strategy in the public governance system2306-546X2414-377410.31470/2306-546X-2021-50-193-198https://doaj.org/article/cf158ed9d0fe44aebc5fb7791e35a4cc2021-08-01T00:00:00Zhttps://economic-bulletin.com/index.php/journal/article/view/811https://doaj.org/toc/2306-546Xhttps://doaj.org/toc/2414-3774Relevance of the research topic. The current stage of socio-economic development of both countries with developed and transformational economies is characterized by uncertainty of the external environment, intensification of globalization processes, which raises the issue of substantiation of financial strategy, specification of its tasks and development of tools for their solution. Formulation of the problem. With the increasing volatility of socio-economic dynamics, the COVID-19 pandemic raises the need to develop a public financial strategy that will improve the quality of fiscal risk assessment, develop tools to minimize them, increase coordination of public authorities, reduce unproductive government spending. Analysis of recent research and publications. Problems of formation and implementation of financial strategy in the system of public administration are revealed in many scientific researches of domestic and foreign scientists: J. Keynes, P. Samuelson, J. Stiglitz, S. Kucherenko, L. Levaeva, L. Lysyak, I. Lukyanenko, L. Marmul, V. Makogon, V. Fedosova, I. Chugunova and others. Selection of unexplored parts of the general problem. Increasing volatility of socio-economic dynamics impairs the chances of rapid economic recovery. In this regard, an important task is to develop a public financial strategy aimed at implementing measures to minimize fiscal risks. Problem statement, research goals. The objectives of the study are: to substantiate the role of financial strategy in the system of public administration in conditions of increasing volatility of socio-economic dynamics, the COVID-19 pandemic; to determine the features of the formation and implementation of financial strategy in the system of public administration; to analyze and estimate state budget expenditures. The purpose of the study is to reveal and substantiate approaches to the formation and implementation of financial strategy in the public administration system. Method or methodology of the study. To achieve the goal of the article, a set of general scientific and special methods was used: theoretical generalization and comparison; systemic; comparative analysis; scientific abstraction. Presentation of the main material (results of work). The role of financial strategy in the system of public administration in the conditions of increasing volatility of socio-economic dynamics, pandemic COVID-19 is revealed. Peculiarities of formation and implementation of financial strategy in the system of public administration are determined. The analysis and estimation of state budget expenditures are carried out. Approaches to the formation and implementation of financial strategy in the public administration system are substantiated. Field of application of results. The results of the study can be used in the process of reforming the financial system and its components. Conclusions in accordance with the article. The formation and implementation of a sound public financial strategy is a prerequisite for ensuring the stability of macroeconomic dynamics through the synergy of tools of the components of the public administration system, the development of tools to minimize fiscal risks.Alla ChornovolHryhorii Skovoroda University in Pereiaslavarticlefinancial strategyfinancial and budgetary policypublic finance management systemfinancial systempublic financepublic expendituresEconomic growth, development, planningHD72-88Economics as a scienceHB71-74ENRUUKЕкономічний вісник університету, Iss 50, Pp 193-198 (2021)
institution	DOAJ
collection	DOAJ
language	EN RU UK
topic	financial strategy financial and budgetary policy public finance management system financial system public finance public expenditures Economic growth, development, planning HD72-88 Economics as a science HB71-74
spellingShingle	financial strategy financial and budgetary policy public finance management system financial system public finance public expenditures Economic growth, development, planning HD72-88 Economics as a science HB71-74 Alla Chornovol Financial strategy in the public governance system
description	Relevance of the research topic. The current stage of socio-economic development of both countries with developed and transformational economies is characterized by uncertainty of the external environment, intensification of globalization processes, which raises the issue of substantiation of financial strategy, specification of its tasks and development of tools for their solution. Formulation of the problem. With the increasing volatility of socio-economic dynamics, the COVID-19 pandemic raises the need to develop a public financial strategy that will improve the quality of fiscal risk assessment, develop tools to minimize them, increase coordination of public authorities, reduce unproductive government spending. Analysis of recent research and publications. Problems of formation and implementation of financial strategy in the system of public administration are revealed in many scientific researches of domestic and foreign scientists: J. Keynes, P. Samuelson, J. Stiglitz, S. Kucherenko, L. Levaeva, L. Lysyak, I. Lukyanenko, L. Marmul, V. Makogon, V. Fedosova, I. Chugunova and others. Selection of unexplored parts of the general problem. Increasing volatility of socio-economic dynamics impairs the chances of rapid economic recovery. In this regard, an important task is to develop a public financial strategy aimed at implementing measures to minimize fiscal risks. Problem statement, research goals. The objectives of the study are: to substantiate the role of financial strategy in the system of public administration in conditions of increasing volatility of socio-economic dynamics, the COVID-19 pandemic; to determine the features of the formation and implementation of financial strategy in the system of public administration; to analyze and estimate state budget expenditures. The purpose of the study is to reveal and substantiate approaches to the formation and implementation of financial strategy in the public administration system. Method or methodology of the study. To achieve the goal of the article, a set of general scientific and special methods was used: theoretical generalization and comparison; systemic; comparative analysis; scientific abstraction. Presentation of the main material (results of work). The role of financial strategy in the system of public administration in the conditions of increasing volatility of socio-economic dynamics, pandemic COVID-19 is revealed. Peculiarities of formation and implementation of financial strategy in the system of public administration are determined. The analysis and estimation of state budget expenditures are carried out. Approaches to the formation and implementation of financial strategy in the public administration system are substantiated. Field of application of results. The results of the study can be used in the process of reforming the financial system and its components. Conclusions in accordance with the article. The formation and implementation of a sound public financial strategy is a prerequisite for ensuring the stability of macroeconomic dynamics through the synergy of tools of the components of the public administration system, the development of tools to minimize fiscal risks.
format	article
author	Alla Chornovol
author_facet	Alla Chornovol
author_sort	Alla Chornovol
title	Financial strategy in the public governance system
title_short	Financial strategy in the public governance system
title_full	Financial strategy in the public governance system
title_fullStr	Financial strategy in the public governance system
title_full_unstemmed	Financial strategy in the public governance system
title_sort	financial strategy in the public governance system
publisher	Hryhorii Skovoroda University in Pereiaslav
publishDate	2021
url	https://doaj.org/article/cf158ed9d0fe44aebc5fb7791e35a4cc
work_keys_str_mv	AT allachornovol financialstrategyinthepublicgovernancesystem
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Financial strategy in the public governance system

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