Збірник наукових праць Університету державної фіскальної служби України

Spatial Characteristics and Relationships in the System of Realizing the Potential of Finance in Social Development

D. Biryuk, S. Onyshko — Fri, 15 Dec 2023 00:00:00 +0100

The article substantiates the importance of an integrative combination of the entire set of factors that determine the construction and development of financial relations, which determine the deep essence of the category of finance. It is emphasized that when forming the financial base of the state, along with taking into account the essential and meaningful content of financial relations, the spatial aspect of their functioning and management is no less important. It is noted that the use of the concepts of sphere and environment when giving spatial characteristics to financial relations is appropriate in understanding these concepts as a set of conditions in which the movement of such relations actually takes place. The possibility of financial relations to develop freely and manifest itself as fully as possible can be adequately expressed through the concept of space, which means a free, large area, unlimited length for the interconnection and interaction of relations of all economic subjects.

It was determined that the conceptual basis of the general development of financial relations should be the development and strengthening of the financial space, the boundaries of which, along with the market mechanisms of capital circulation, will unite all other possible sources of financial income, financial assistance, state borrowing, etc.

Considering that the key feature of the development of modern society is the phenomenon of digitalization, the clarification of the possibilities of modern development and organization of financial relations is inseparable from the formation of the digital space, which makes it possible to adjust the nature of the movement of such relations in organic unity with the financial space. It is argued that the result of the interpenetration of the financial and digital spaces lies not in the formation of a simple aggregate or the expansion of the financial space, but in the interconnection and interaction within the general financial and digital space in order to fully realize the potential of financial relations.

It was emphasized that the concept of the mentioned approach is based on the principle of coordination in the space of a set of methods and mechanisms, firstly, financial support for carrying out reforms in all spheres of activity, including in the field of digitalization, and, secondly, creation at a new technological level favorable conditions for the organization and implementation of the actual process of such reforms. The emerging trends of the digital transformation of the financial sphere are changing both the functioning models of financial institutions and the role of the financial system in general in ensuring economic development through the spread of financial innovations, the development of new financial products and the possibility of expanding access to both internal and external sources of financial resources.

The need to introduce it into scientific circulation is proven and the concept of "financial and digital space" is defined, which will contribute to increasing the level of scientific validity of strategic areas of practical implementation of the potential of finance in solving the tasks of economic development.

DocDream Information System in Providing Automation of Marketing Activities of the Institution

L. Petrenko, V. Nizhehorodtsev, A. Dubinina, L. Ivanova — Fri, 15 Dec 2023 00:00:00 +0100

The article examines the peculiarities of the implementation of CRM approaches and technologies in the activities of private medical institutions that plan to work in the client marketing paradigm. The main principles of building the medical information system «DocDream», which is intended for information support and automation of all types of activities of a modern medical institution, are presented. The main components of the information system are described, in particular, in ensuring the automation of marketing activities of a medical institution. The DocDream information system has the ability to analyze graphics, virtual images using immersive 3D technologies and special software for digital processing and image generation. The information system includes the possibility of introducing a virtual reality environment, which takes place in electronic form, working materials are collected in grouped virtual databases, allowing to combine the individual knowledge of employees into a single collective knowledge. Thus, the results of the work of each medical employee get the opportunity to use all others.

Financial Support of Cluster Development in Ukraine: Problems and Prospects

N. Davydenko, H. Skrypnyk, A. Buriak, I. Buriak — Fri, 15 Dec 2023 00:00:00 +0100

The article reveals the main trends and organizational features of the development of clusters in Ukraine. The definition of the cluster, as well as the sources of the formation of the financial capital of the clusters, the direction of distribution of own funds are given. Factors of positive and negative impact of clusters on the economy of Ukraine are considered. The regional strategies and policies of high-tech projects of 5 regions where industrial clusters began to function were analyzed, namely: Kyiv, Vinnytsia, Mykolaiv, Zaporizhzhia, and Kharkiv regions. The main instruments of financial support for the development of the cluster movement in Ukraine at the state and regional levels have been determined. The distribution of financial needs by clusters for 2023 is highlighted, the financing of the needs of the affected persons at the expense of the Humanitarian Response Plan in Ukraine for the period from 2015 to 2023 is analyzed. The main problems that negatively affect the financing of economic innovation clusters of state and regional development are highlighted. Proposals for financial support of the cluster movement in Ukraine have been provided.

Public Debt of Ukraine Under the Conditions of Military Aggression: Challenges and Development Trends

T. Koliada, L. Bench, P. Pozhytkova — Fri, 15 Dec 2023 00:00:00 +0100

The article is devoted to the deepening and development of the scientific basis of the functioning of the state borrowing system in Ukraine, the identification of trends and factors influencing the growth of the state debt, and the search for ways to improve the debt policy in conditions of military aggression.

The coefficients of coordination, structural shifts and determination for the analysis of the state debt were calculated, a comparison was made with the threshold values, their role and significance in determining ways to improve Ukraine's debt security was revealed.

An assessment of the dynamics of the state and state-guaranteed debt of Ukraine in the national currency and US dollars is given, an analysis of the currency structure of state borrowings for the period 2009-2022 is carried out, with the aim of identifying risks for public finances due to the devaluation of the hryvnia and a significant increase in the size of the state debt, which creates problems with its maintenance.

The main reasons for the growth of the state debt, which caused an increase in the burden on the state budget, were determined, an assessment of the effectiveness of the government's use of methods and tools for managing the state debt was provided, and a forecast of payments for the state and state-guaranteed debt of Ukraine for 2023–2033 was developed according to current agreements.

It has been proven that the peak of public debt payments will already occur in 2024, which increases the risk of debt refinancing, creates additional pressure on the state budget and GDP, and accordingly reduces the amount of possible financing of the socio-economic sphere. The proposals regarding the improvement of the debt policy of Ukraine in the conditions of military aggression are substantiated.

The Current Trends in the Digital Technologies Development and their Impact on Public Finances

S. Krynytsia — Fri, 15 Dec 2023 00:00:00 +0100

Modern digital technologies, based on Artificial Intelligence and Big Data, have a significant impact on various spheres of social and economic life of society. However, digitalization has so far only slightly affected the public finance management system, but this area has a high potential for the implementation of the main technologies of the 4th industrial revolution. The purpose of the article is to study the practical aspects of digitalization in the sphere of public finance and to develop recommendations for the implementation of digital technologies in the budget process. The influence of digital technologies on public finances are examined in the article, in particular, issues of GovTech development - digital transformations of public administration in the area of public finance management are considered, the readiness of the world's economies for digital transformations in the field of GovTech and the place of Ukraine in this process are examined. Particular attention is paid to the issues of ensuring fiscal transparency and public participation in the budget process, as the main factors of digitalization of public finances. The main breakthrough technologies of the 4th industrial (digital) revolution and the prospects of their implementation in the process of public finance management are studied. The results of the study emphasize the importance of increasing fiscal transparency, deepening public participation in the management of public finances, and introducing digital technologies such as Big Data analysis, Machine Learning, Artificial Intelligence, and smart contracts into the budget process.

Budget Deficit Management: Foreign Experience and Lessons for Ukraine

V. Pavlenko — Fri, 15 Dec 2023 00:00:00 +0100

The article is devoted to deepening the scientific foundations of overcoming the budget deficit, identifying modern methods and approaches to managing the budget deficit in the leading countries of the world, developing a proposal for the introduction of new fiscal rules in the budget process of Ukraine.

The measures of the governments of the leading countries of the world to reduce the budget deficit are analyzed, and the best foreign practice of reforming tax legislation is revealed in order to increase tax revenues to the budget in order to balance it.

The main causes of the budget deficit in Ukraine are identified, additional challenges to achieving budget balance in the conditions of military aggression are revealed. The dynamics of the deficit of the State Budget of Ukraine for 2018-2022 are given, and the dominant trends in the field of public finances according to the results of 2022, which arose in the conditions of martial law and require a decisive response from the country's government, are determined.

Proposals have been developed to improve approaches to the formation of the fiscal policy of Ukraine based on the generalization of the experience of EU countries in solving the problem of reducing the budget deficit and public debt, and taking into account the provisions of the Strategy for Reforming the State Finance Management System of Ukraine for 2022–2025.

It is emphasized the need to modernize the national system of fiscal rules, taking into account the influence of internal (institutional and macroeconomic) and external (globalization) factors to increase the effectiveness of budget deficit management.

Anti-money laundering financial monitoring of corrupt practices in Ukraine

O. Hordei, O. Novytska, Yu. Kurmanchuk, D. Ulianchyk — Fri, 15 Dec 2023 00:00:00 +0100

The urgency of the problem strengthening economic security of Ukraine during the war period by conducting anti-legalization measures of financial monitoring regarding anti-corruption actions is that they are an effective tool to combat corruption because they allow detect and suppress illegal financial transactions.

The war in Ukraine led to significant economic losses. The country has suffered infrastructure destruction, job losses, rising inflation and decreasing in gross domestic product. Under martial law, Ukraine's economy is more than twice as vulnerable to corruption and others economic crimes. Corruption is a serious threat to Ukraine's economic security. It leads to theft of public funds, reduced efficiency of the economy and deterioration of the welfare of the population, and can also lead to destabilization of the political situation.

Measures to strengthen the economic security of Ukraine during the war period are an important task for state. They will protect national economic interests and contribute to economic recovery.

The article highlights the existing system of bodies and levels of financial monitoring, as well as the regulatory framework governing it; reveals the existing schemes of legalization of income received from corrupt activities and on the basis of the conducted research practical recommendations for reducing the level of corruption in Ukraine.