FISCAL OPERATIONS ON THE WAY OF ENSURING BUDGET SECURITY OF UKRAINE IN CRISIS

Abstract

Ukraine, like many other countries in the world, aims to ensure sustainable economic growth by comprehensive socio-economic reform. At the same time, the factors that impede the effectiveness of its implementation pose a threat to financial security due to the loss of its stability. Such multifaceted factors include the spread of globalization and digitalization, which, along with new opportunities, create new challenges and threats, which in turn require a reliable economic foundation and support for financial stability, centralized funds and long-term financial resources. An important tool, among others, is budget policy, which combines regulatory and fiscal functions of the budget process. It optimally and continuously supports the creation of resources for the reduction of threats and development of the economy through budget expenditures, and an indicator of its effectiveness is budget security. Thus, the unresolved issues of budget security, as a strategic direction of financial security, in the relationship and interaction with fiscal sustainability led to the choice of research subject, its purpose and objectives. Paying tribute to the contribution of scientists, we should note that the issue of improving budget security in terms of considering the impact of fiscal sustainability on it requires further research. The purpose and objectives of the study are to generalize and systematize the theoretical foundations and methodological approaches to budget security, impact assessment and development of proposals for strengthening budget security by improving budget and fiscal policy, strengthening fiscal sustainability. To achieve this goal, the following tasks were defined: the theoretical foundations of budget security were generalized; the role and importance of fiscal policy and fiscal sustainability in ensuring budget security were described; the diagnostics of budget security in Ukraine were carried out; the level of fiscal sustainability was analyzed and its impact on Ukraine's budget security was assessed; the practical recommendations for strengthening budget security by fiscal sustainability reinforcement were developed.