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№ 12/2020

№ 12/2020

Fìnansi Ukr. 2020 (12): 83–105
https://doi.org/10.33763/finukr2020.12.083

SCIENTIFIC DISCUSSIONS

PETRUKHA Sergii 1, PALIICHUK Tetiana 2, PETRUKHA Nina 3

1Kyiv National University of Construction and Architecture
OrcID ID : https://orcid.org/0000-0002-8859-0724
2Analytical Center of All-Ukrainian Association of Local Governments “Association of Ukrainian Cities”
OrcID ID : https://orcid.org/0000-0002-6951-4371
3Kyiv National University of Construction and Architecture
OrcID ID : https://orcid.org/0000-0002-3805-2215


Local finances in the context of the corona crisis: new budget architecture and financial capacity to regulate sectoral and socio-economic processes


The coronavirus pandemic, which has been the world's biggest test since World War II, has led to the 2020 global economic crisis. In the context of rapid change (increase in the number of diseases and deaths) in Ukraine, a number of internal quarantine measures were introduced to prevent the spread of coronavirus. The implemented measures had a negative impact on the economy of Ukraine and necessitated the implementation of state regulation of economic stimulus to overcome the consequences of COVID-19, revision and change of budget policy priorities. The introduction of quarantine measures by the central government to prevent the emergence and spread of coronavirus, stimulate and support the economy has affected the resources of local government. The article reflects the features of local finances in the context of the corona crisis, updating their budget architecture, the state of financial capacity of local governments to regulate sectoral and socio-economic processes. The budget security of communities in the fight against COVID-19, the impact of changes in budget and tax legislation to support the economy, the impact of quarantine restrictions on revenues to local government budgets are analyzed. The actions of communities to support entrepreneurs in the conditions of additional financial burden on the need to combat COVID-19 are revealed. Recommendations for the implementation of fiscal policy in the area of local finances are proposed, which will help slow down the economic downturn, save enterprises from bankruptcy, save jobs, help fill budgets, and accelerate economic recovery after quarantine.

Keywords:budget policy, local budgets, local finances, local self-government, intergovernmental relations, pandemic, coronavirus, corona crisis, COVID-19

JEL: H72


Petrukha S. . Local finances in the context of the corona crisis: new budget architecture and financial capacity to regulate sectoral and socio-economic processes / S. Petrukha, T. Paliichuk, N. Petrukha // Фінанси України. - 2020. - № 12. - C. 83-105.

Article original in Ukrainian (pp. 83 - 105) DownloadDownloads :187
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