Londar O. State debt policy of Ukraine and the EU: ways of harmonization

Thesis describes the ways to improve public debt policy of Ukraine due to better adaptation of the relevant EU modern experience. Theoretical estimates of the critical debt burden for certain groups of the EU and Ukraine in the post-crisis period after 2008 are given. Based on comparative analysis of conducted assessments it is concluded that Ukrainian experience is similar to the new EU member countries that have post-Soviet past. A study of the transformation of post-crisis approach to goal-setting definition of public debt policy and the EU financial instruments was provided. It is shown that the general trend of transformation of debt policy in the new EU member states was formed under the influence of two main factors - counteract negative factors caused by the global financial and economic crisis of 2007-2008 and the implementation of the necessary conditions of membership in the European Union in the public finance area. A detailed analysis of financial instruments that allowed these countries to ensure effective management, taking into account national circumstances, debt risks, guaranteed debt and local debt was made. The ways of improving the debt policy of Ukraine on the experience of new EU members in strategic and tactical terms are named. It is shown that the introduction of public methodological approaches developed by the IMF and the EU is important strategic aspect. In the near (tactical) period it is necessary to strengthen, in particular through the work developed proposals of risk-oriented Ukrainian debt policy, its regional dimension, improving regulation of quasi-fiscal operations and management of the state guaranteed obligations.