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Interaction of Fiscal and Credit Policy of the State in Crisis Conditions
Kaneva T. V., Bereznyi M. M.

Kaneva, Tetiana V., and Bereznyi, Maksym M. (2025) “Interaction of Fiscal and Credit Policy of the State in Crisis Conditions.” Business Inform 10:403–410.
https://doi.org/10.32983/2222-4459-2025-10-403-410

Section: Finance, Money Circulation and Credit

UDC 336.1:336.7

Abstract:
The article explores the theoretical and methodological foundations as well as the practical aspects of the interaction between the State’s budgetary and credit policies in times of economic crisis. It is noted that contemporary global challenges, triggered by economic shocks, financial instability, military conflicts, and pandemic-related consequences, underscore the need to employ effective tools for coordinating public finances and the monetary-credit sector. The study shows that budgetary policy is focused on: implementing the State budget during wartime, supporting social expenditures, and financing strategically important sectors of the economy, and requires close coordination with credit policy, which aims to ensure the accessibility of loan resources, support the stability of the banking system, and control inflationary processes. The main directions through which budgetary instruments and credit levers impact economic dynamics and the financial mechanisms of countries during a crisis are analyzed. It has been determined that their inconsistency can lead to negative economic consequences: inflationary pressures, liquidity shortages, increased debt burdens, and decreased trust in the financial system. Special attention is paid to ensuring the execution of the State budget under martial law and supporting the functioning of the country’s financial system. It is emphasized that in times of crisis, the State is compelled to enhance fiscal incentives while simultaneously employing credit regulation tools and attracting additional sources of financing for the State budget. The article substantiates the need to develop a unified approach to coordinating the State’s budgetary and credit policies, taking into account the specifics of the national economy and international experience. It is concluded that the strategic goal of the interaction between fiscal and credit policy is to achieve macroeconomic stability, restore investment activity, ensure social security, and create prerequisites for sustainable economic growth after the end of the crisis period.

Keywords: State financial policy, fiscal policy, credit policy, State budget, macroeconomic stability, sustainable development, global challenges.

Fig.: 1. Tabl.: 2. Bibl.: 14.

Kaneva Tetiana V. – Doctor of Sciences (Economics), Associate Professor, Dean, Faculty of Finance and Accounting, State University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: [email protected]
Bereznyi Maksym M. – Postgraduate Student, Department of Finance, State University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: [email protected]

List of references in article

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