Discussion
Formation of the revenue and spending part of the State budget is one of the most urgent financial economics issues in the conditions of active military actions on the territory of Ukraine. Main factors influencing budget deficit policy in Ukraine (period 2022-2023) are combined into four groups: demographic, economical, political and social-cultural.
Features of realization of budget deficit/balance concepts for 2022-2023 are represented by the analysing of following types:
▪ overall (general) deficit (spending – revenues);
▪ foreign deficit (government foreign spending – government revenues from foreign sources);
▪ domestic deficit (overall deficit – foreign deficit);
▪ primary deficit (overall deficit – all interest payments);
▪ domestic financing deficit (overall deficit – foreign loans);
▪ liquidity deficit (overall deficit – net domestic non bank borrowing– net foreigh borrowing);
▪ generation deficit (present value of taxes of an average member of his generation for the remainder of the life – present value of transferes he will receive);
▪ consolidated coverage (overall deficit + quasi-fiscal calculations of the Сentral bank).
Balancing the budget in the long run involves the stabilization of state finances, taking into account the influence of internal and external (globalization) factors.
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