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Ukraine’s Public Debt: Current Status and Problems
Petyk L. O., Horanska N. V., Saranchuk N. D.

Petyk, Liubov O., Horanska, Nataliia V., and Saranchuk, Nadiia D. (2020) “Ukraine’s Public Debt: Current Status and Problems.” Business Inform 12:332–337.
https://doi.org/10.32983/2222-4459-2020-12-332-337

Section: Finance, Money Circulation and Credit

UDC 336.27

Abstract:
In today’s conditions, it is quite problematic to pick out a State that does not use borrowings in order to further finance the needs of the State budget. Therefore, one of the most important problems of the economy of each country is the problem of changing the volume of public debt. The concept of public debt is immediately associated with a negative phenomenon. However, the experience of many countries shows the opposite – public debt is within the permissible limits of no potential threat to the economy. However, in Ukraine, its indicators in recent years have been steadily increasing and far exceeding the limits of the norm. This tendency is due to a number of factors on which the amount of public debt depends. The article is aimed at disclosing the theoretical aspects of the public debt and the State-guaranteed debt of Ukraine, as well as their differences. The structure of the debt and its volumes during 2016-2020 are researched. The views of foreign and domestic researchers on determining the concept of the aggregate public debt are considered. As result of the study, the current status of Ukraine’s public debt is reflected and the dynamics of both the public debt and the State-guaranteed debt in terms of their components have been analyzed for the past four years. The dependence of both the public debt and the State-guaranteed debt on the size of gross domestic product is considered. The share of the internal and the external debt in the composition of the public debt and the State-guaranteed debt respectively is analyzed. On the basis of the carried out analysis, the factors that affect the change in debt volumes, the main factors and causes that led to the growth of both the public and the State-guaranteed debt in Ukraine are defined, as well as the main trends and specific features of its formation. As a result, measures are proposed to overcome these problems.

Keywords: public debt, debt obligations, the State-guaranteed debt, domestic public debt, external public debt.

Fig.: 4. Tabl.: 1. Bibl.: 8.

Petyk Liubov O. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Financial Management, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79001, Ukraine)
Email: [email protected]
Horanska Nataliia V. – Bachelor, Faculty of Finance and Business Management, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79001, Ukraine)
Email: [email protected]
Saranchuk Nadiia D. – Bachelor, Faculty of Finance and Business Management, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79001, Ukraine)
Email: [email protected]

List of references in article

Makkonell, R., and Briu, S. Analitychna ekonomiia: pryntsypy, problemy i polityka. Ch. 1. Makroekonomika [Analytical Economics: Principles, Problems and Policies. Part 1. Macroeconomics]. Lviv: Prosvita, 1997.
Vakhnenko, T. P. “Osoblyvosti formuvannia derzhavnoho borhu ta upravlinnia yoho skladovymy v period finansovoi kryzy“ [Features of Public Debt Formation and Management of Its Components during the Financial Crisis]. Finansy Ukrainy, no. 6 (2009): 14-28.
Miroshnychenko, I. S. “Zovnishnia zaborhovanist Ukrainy yak chynnyk vplyvu na ekonomichnu bezpeku derzhavy v umovakh hlobalizatsii“ [Foreign Debt of Ukraine as a Factor Affecting Economic Security in the Age of Globalization]. Oblik i finansy, no. 3 (2014): 102-109.
Rudenko, Yu. M. “Vplyv derzhavnoho borhu na ekonomichnyi rozvytok Ukrainy“ [The Impact of Public Debt on the Economic Development of Ukraine]. Formuvannia rynkovoi ekonomiky, no. 8 (2007): 162-171.
Romanenko, O. R. et al. Finansy [Finances]. Kyiv: KNEU, 2003.
[Legal Act of Ukraine] (2010). http://zakon3.rada.gov.ua/laws/show/2456-17/page#Text
“Derzhavnyi borh ta harantovanyi derzhavoiu borh“ [Public Debt and State-guaranteed Debt]. Ministerstvo finansiv Ukrainy. https://mof.gov.ua/uk/derzhavnij-borg-ta-garantovanij-derzhavju-borg
Sokyrko, O. S., Bur, I. S., and Kobzar, I. A. “Analiz suchasnoho stanu derzhavnoho borhu Ukrainy“ [The Analysis of the Modern State Debt of UKRAINE]. Skhidna Yevropa: Ekonomika, Biznes ta Upravlinnia. 2017. https://chmnu.edu.ua/wp-content/uploads/2019/07/Sokirko-O.S.-Bur-I.S.-Kobzar-I.A..pdf

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