The effectiveness of public governance of Ukraine’s budget security: Current state and trends

The problems of ensuring the full and stable fulfilment of the state’s financial obligations, the need to reduce costs for its operation, and reduce the debt burden on the national economy are relevant for most countries of the world. These issues belong to the sphere of budgetary security of the state. The purpose of this study is to analyse the effectiveness of public management of the budget security of Ukraine, to identify the main problems of management and to develop proposals for minimising the existing threats to the budget security of Ukraine. The criterion for evaluating the effectiveness of public management of the state’s budget security is the indicator of the level of budget security, calculated in accordance with “Methodical recommendations for calculating the level of economic security of Ukraine” approved by the order of the Ministry of Economic Development and Trade of Ukraine dated October 29, 2013. According to the results of the study, the effectiveness of the public management of the state’s budget security was at an unsatisfactory level in Ukraine during 2018-2022. On the basis of the conducted analysis, it has been proven that the most serious problem of the budget security of Ukraine is excessive amounts of public debt and payments for its maintenance. This problem is a direct consequence of the high level of shadow economic activity in the state, which causes large-scale tax evasion by business entities. To solve the existing problem, it is proposed to systematically limit the volume of shadow economic activity of economic entities, in particular large corporations, and strengthen the criminal liability of state officials for corruption and embezzlement of budget funds. The growth of the financial capabilities of the state for four years in a row by the amount of additional revenues of more than 12.2 billion dollars. The USA will have a positive effect on the social policy and population dynamics of Ukraine