STATE OF THE BUDGETARY, TAX, CURRENCY AND BANKING DETERMINANTS OF THE FINANCIAL SECURITY UKRAINE

Abstract

Modern trends in Ukraine’s financial system characterized by a series of destructive external and internal factors in the formation of challenges and threats to economic security of the state, the essence of which is the deterioration of key parameters of financial and economic conditions, real GDP, a critical increase in inflation, devaluation of the national currency, the cost of credit resources, conservation high level of budget deficit and public debt, deepening imbalances in the fiscal, monetary areas. Financial security is an essential condition for the stable functioning of the socio-economic system of any country. However, insufficient to ensure it does not create the conditions for financial recovery sectors of economic activity, prevents post-crisis recovery system of national economy and greater economic security. It is known that the structural components of the financial security of the state are: fiscal, tax, monetary, debt, currency, banking, security, stock market and non-bank financial sector, security finance the real economy, etc. Thus, there is a need for analysis of their operation to affect the financial security of the state and identify causes of imbalances of the financial sector. The aim of article is an assessment of the current state budget, tax, monetary and banking determinant of financial security of Ukraine. Significant deterioration of the structural components of financial security in the years 2014–2015 due to unfavorable combination of external and internal financial factors, which are amplified, accumulated in previous years macroeconomic imbalances. Most components of financial security characteristic Ukraine crisis processes. In particular, the security budget – a high level of GDP redistribution through the fiscal system, the budget deficit through external borrowing, the increase in transfers from the state budget; currency security – devaluation, limited international reserves of the NBU and the critical mass of foreign currency deposits; banking security – greater dependence of the domestic banking sector to foreign capital and decline in bank lending real economy.