UKRAINE'S EXTERNAL DEBT AND ITS IMPACT ON THE COUNTRY'S ECONOMY

Abstract

In modern conditions, when there is a period of unstable economic situation, the issue of monitoring the total public debt of Ukraine is  especially relevant. These circumstances necessitate close monitoring of the dynamics of public debt components and optimization of its structure.Over the past few years, there has been a rapid trend of growing public external debt of Ukraine, which creates the preconditions for the formation of serious debt threats to the national economy. The deepening of fiscal instability and the growth of the debt burden highlight the need to study the dynamics and structure of Ukraine's external debt in general.The article considers the external debt of Ukraine as the main element of public debt growth. The dynamics of changes in the values of gross external debt, external public debt and external state-guaranteed debt as part of the structure of government debt is analyzed. The strategic goals of public debt management are defined.In recent years, under the influence of the financial and economic crisis in Ukraine, there has been an increase in public debt and its maintenance costs, which exacerbates the problems of increasing the debt burden on the budget, ensuring financial and debt security, improving public debt management.The results of the study suggest that the stabilization of the situation in the field of public debt and increase the level of debt security requires, first of all, the improvement of Ukraine's debt policy.Thus, the current task of the Government of Ukraine is to ensure control over the risks associated with public debt management, as well as to determine the planned types of debt instruments through which the state budget is planned to be financed. As the Ukrainian economy cannot do without external lending at the moment, it is necessary to at least limit the amount of their income.