The main problems of financial security of Ukraine in conditions of crisis phenomena in the economy

Abstract

The subject of research is the process of examining and analysing financial security of the cuntry and directions of its components in conditions of the crisis phenomena in the economy. The aim of the study is identification of essence and component parts of financial safety, assessment of its key indicators, and identify priority areas for strengthening it. The methodology of work. The work is done according to the research results of modern scientific views on definition of essence of financial safety of the state, given the dynamics and structure of financial security of Ukraine during 2009 – 2014 and substantiation of the basic directions of strengthening of financial security of Ukraine, which will enable to increase the level of financial security. The results of the work. The essence and main components of financial safety of the state, analyzed the performance and the current state of financial security of Ukraine. Identified the greatest threat to the financial security of the state and suggested measures to increase its level in conditions of the crisis phenomena in the economy. The scope of the results: the organization and carrying out scientific research in the sphere of public finances, formation of effective system of management of the state debt of Ukraine and determination of the most dangerous threats to financial security of Ukraine at the present stage of its development. Conclusions. The greatest threat to the financial security of Ukraine is the imperfection of budgetary policy and misuse of funds of the budget; significant amount of public and publicly guaranteed debt, the problems with his service; growth of the informal sector, negative balance of payments, the low level of profitability of the banking system, small amounts of long-term Bank lending and higher interest rates on loans, illegal outflow of foreign currency abroad, a significant level of dollarization of the economy. Creating a mechanism to ensure and optimize financial security of the state requires, above all, solving a wide range of issues regarding the formulation of criteria and principles to ensure the financial security, the prioritization of national interests in the financial sector, the implementation of permanent monitoring of factors that cause a threat to the financial security of the country and the adoption of measures for their prevention and overcoming.