DEBT OBLIGATIONS OF THE STATE: STATISTICAL ANALYSIS

Abstract

The article analyzes the meaning of the concept of "public debt" according to the views of domestic and foreign scholars. The essence of this term according to norms of the Budget code of Ukraine is investigated. The activity of public authorities in the management of debt obligations of our state is considered. The state and dynamics of public debt of Ukraine for the period 2015-2019 are studied. The structure of public debt of Ukraine according to its division into external and internal is analyzed, and the shares of external and domestic debt in the total amount of public and state-guaranteed debt are determined. The dynamics of public debt obligations in terms of the amount of public and state-guaranteed debt is shown. The structure of external and internal debts of the state budget of Ukraine to the main creditors and the dynamics of payments for its repayment are described. The dynamics of the ratio of public debt to GDP of Ukraine is calculated and analyzed. The activity of a new state structure – the Debt Agency of Ukraine – in the field of debt management of our state has been studied. It is determined that a significant problem of the state is to ensure the debt burden. Ways to solve the problem of debt burden are proposed, among which an important measure is proposed – to strengthen control over the effective use of borrowed projects. It is determined that the best step in improving the system of management of debt obligations of the state can be stimulated the development of the internal capital market with the involvement of private reorientation from external to internal prevention. In modern conditions, both market economies and developing countries have inherent needs for additional funds to cover the budget deficit. This situation necessitates the constant search for additional sources of financing government liabilities, in particular, such as loans. Thus, the additional funds raised make it possible to increase total expenditures under conditions of lower national income only through a balanced and effective government policy in the field of borrowing. However, the downside of debt obligations is that sooner or later they must be repaid and interest paid for the use of these borrowed funds. The purpose of the study is to determine the structure and dynamics of public debt of Ukraine, as well as the features of its repayment.