The Government Debt of Ukraine: Dynamics and Methods of Management

In modern conditions, one of the most significant elements of the State’s economic policy is the management of government debt. Deepening of fiscal imbalances and growth of debt load in the post-crisis period update the need to explore ways to ensure the debt sustainability of Ukraine’s economy. The current structure of borrowings can be characterized as an active growth of external borrowings with relative stability of internal domestic debt. The article is aimed at studying the economic consequences of government debt in Ukraine and ways to improve the debt management. The dynamics and structure of the status of the debt government of Ukraine are analyzed; macroeconomic and budgetary factors influencing its growth are allocated; recommendations on improvement of debt policy for increase of debt security level of Ukraine, stabilization of public finances, ensuring stable social and economic development of Ukraine are given. The authors indicate the need to control the risks associated with the management of public debt (in particular, currency risk, interest risk, liquidity risks, refinancing and additional liabilities) in the planning the financing of the State budget deficit