PUBLIC FINANCE MANAGEMENT

GASANOV Sergіi ¹, KUDRJASHOV Vasyl ², BALAKIN Robert ³

¹SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0002-7454-0419
²SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0003-4801-3620
³SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0001-6431-6635

The EU public finance crisis management experience and its implementation in Ukraine

The contemporary public finance in Ukraine is under extremely difficult and imbalanced condition. In the process of public finance reformation, the issues related to the possibility of consideration of foreign experience of the EU Member States regarding Ukraine are becoming iportant. In recent years, public economic policy in these countries was aimed at implementation of fiscal consolidation programmes. An association Agreement between Ukraine and the EU envisages extension of public finance policy cooperation in carrying out public finance policy, implementation of budget support programmes, convergence of business regulatory environment in Ukraine and the EU. The article highlights the key directions of improving public finance management system of the EU member states, modernization of public institutional structures and fiscal procedures elaborated in the EU. Authors analysed German experience on rationalisation of a state aid, attraction and disbursement of public credits, formation of rational approaches to budget revenues, optimization of budget spendings, improvement of public debt management, public services improvement, tax system reformation. Authors determined directions and possibilities for application of the the EU Member States’ experience of public finance management reformation in Ukraine.

Keywords: public finance, Stability and Growth Pact, fiscal policy, fiscal consolidation, budget transparency, fiscal rules, public debt.

JEL: E62, F36, H30, H60, H63

Gasanov S. . The EU public finance crisis management experience and its implementation in Ukraine / S. . Gasanov, V. . Kudrjashov, R. . BALAKIN // Фінанси України. - 2014. - № 7. - C. 17-30.