Osetska D. Fiscal imperatives for sustainability of public finances in Ukraine.

The thesis is focused on the research into key properties of fiscal imperatives (compulsion, rules, law.) The study explores the tools for assessing and ensuring sustainability of public finances in terms of imbalance of the fiscal sphere; traces the evolution of theoretical approaches to treating the concept of "sustainability of public finances", and shows the role of target indicators of sustainability and their limit values which must be followed in the management of financial operations of the public sector. The exploration outlines major features of the fiscal consolidation to limit risks of the fiscal sector. Special attention is given to the fiscal adjustment of budget deficit and public debt. The research highlights the practice of establishing independent fiscal institutions and implementing new fiscal rules to address the fiscal gaps. The study shows that the fiscal consolidation acts as an anti-crisis strategy to expand fiscal space through the use of new institutional arrangements and financial instruments. The thesis offers an integrated assessment of the fiscal security of Ukraine, substantiates the links between fiscal security and stockpiled institutional sustainability of public finances, offers recommendations for improving fiscal policy of Ukraine by reaching such a fiscal position, which on the one hand, limits the macroeconomic imbalances, and, on the other one, does not hamper the fiscal imperatives of sustainability of public finances.