Macrofinancial Indicators in the Economic Strategy of the State

• Main Author: Rudyk Nataliia V.
• Format: Article
• Language: English
• Published: PH "INZHEK" 2016-08-01
• Series: Problemi Ekonomiki
• Subjects: state strategy; financial policy; macrofinancial indicators; public finance management system
• Online Access: http://www.problecon.com/export_pdf/problems-of-economy-2016-3_0-pages-74_80.pdf

The aim of the article is to study the effectiveness of the set strategic objectives of the state and the fact of their implementation. On the basis of the analysis and systematization of the existing practical and theoretical framework the place and the importance of macrofinancial indicators in the public finance management system has been determined. The definition of MFI in the broad and narrow sense is suggested. In the broad sense it is a quantitative measure assessing the condition of public finances at the moment of decision-making and reflecting the results of its impact on achieving the objectives of the state financial policy. The narrow sense reduces it to understanding the indicator as the one adapted for the purposes of specific analysis. The experience of previous strategies of the administrative apparatus is studied. On the basis of analyzing the priority macrofinancial indicators the assessment of current practices of implementing the state economic strategy has been carried out. The study found a discrepancy between the objectives set by the Strategy for Sustainable Development “Ukraine – 2020” with the real situation in the country’s economy. It is noted that the use of macrofinancial indicators aimed at achieving a particular limit only within a single reporting period negatively affects the system character of management.