THE IMPACT OF THE STATE’S DEBT POLICY ON ECONOMIC GROWTH
DOI:
https://doi.org/10.32782/inclusive_economics.3-2Keywords:
government, public expenditures and revenues, budget deficit, priorities for implementing debt policy, financial securityAbstract
Introduction. The article examines the impact of debt policy on economic growth in conflict conditions, as well as reveals the features of its implementation in wartime. Debt policy causes a complex interaction with economic factors, and its implementation in wartime should be aimed at maintaining financial stability, avoiding excess public debt, and focusing on strategically important sectors of the economy to ensure sustainable economic development of the country. The article is about how the state's debt policy in wartime dynamically interacts with various economic factors and has a significant impact on its financial stability and economic growth. The structure of internal and external debt and the dynamics of debt indicators of different periods are analyzed, which allows realizing the significant consequences of constant debt growth, and current challenges for the macro-financial stability of Ukraine. It is concluded that important factors in the positive impact of debt policy in the conditions of war are the reasonable use of borrowed funds to stimulate domestic production and restore economically important industries. The purpose of the article is to determine the impact of the state's debt policy on economic growth and to identify priorities for its implementation. Methods. The scientific methods of cognition were used, in particular, a critical analysis of the available scientific literature on the implementation of the state's debt policy and its impact on economic growth, the ordering of data related to the systematization of the principles on which the state's debt policy is built, as well as the methods of induction and deduction for generalization and analysis of information. Results. The basic principles on which the modern debt policy of Ukraine is implemented are defined. The impact of debt policy on economic growth has been analyzed, its complex and multifaceted nature has been revealed. It is found that the priorities for implementing debt policy in the conditions of war should be aimed at ensuring financial stability, avoiding excess public debt, and focusing on strategically important sectors of the economy to ensure sustainable economic development. Conclusion. The study proved that a complex interaction with economic factors determines the debt policy of the state in the conditions of war. Understanding the role of debt policy is becoming important for formulating strategies to ensure financial stability and sustainable development of the state in conflict conditions.
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