BASIC DIRECTIONS OF THE MODERN FISCAL POLICY IN UKRAINE

The main directions of fiscal policy in Ukraine are examined. The fiscal policy of the state in conditions of financial and economic crisis is analyzed. The crisis has clearly demonstrated the inefficiency of standard macroeconomic regulators for preventing the accumulation of system contradictions. The crisis has revealed the typical and atypical economic imbalances in the country. The inability to restore the appropriate rate of economic growth leads to the spread of negative consequences for the filling of the state budget, ensuring the stability of the banking system, exchange rate, a stable increase of the population incomes. The growth of the deficit of the state budget is determined as one of the most important issues. The deficit is due to the inconsistency of the government's commitments and budget incomes. There is the increasing of the fiscal burden on the economy of the state. The total amount of external and internal government debt has significantly increased recently. There is a contradiction between the fiscal and regulatory functions of the state tax policy. The tax policy is viewed mainly as a tool for mobilization of incomes of the budget. It is determined that the need of a fundamental updates of the sources of economic and social development of Ukraine, which is possible on the basis of new model of development is obvious. The features of the macroeconomic situation in Ukraine are scrutinized by the authors, conclusions about the special features of fiscal policy in modern conditions are drawn. The risks and prospects are priced, and the main trends of the further fiscal policy in Ukraine are formulated. The main priorities of fiscal policy are the following directions: the introduction of elements of the market model of public finance management, rationalization and regulation of the system of social spending, reducing the extent of usage of fiscal instruments to support economic activity in favor of tax instruments. The strengthening of fiscal efficiency and social equity of the tax system are also defined as the priority directions.