The object of research is the state debt of Ukraine. The purpose of this study is to deepen theoretical and methodological positions, to improve methodological approaches, and to develop practical recommendations for optimizing the formation and effectiveness of public debt management in Ukraine. The methods used in the research are system-structural and semantic analysis, induction and deduction, correlation-regression analysis, economic-statistical and calculation-analytical, abstract-logical method. The results consist in the further development of theoretical, methodological and organizational principles for the formation of the state debt of Ukraine and the development of practical recommendations for improving its management efficiency in order to ensure the state debt sustainability. The scientific novelty is as following: an improvement of scientific and theoretical approaches to the construction of a system of government debt management in the context of the relationship between subjects and objects of management, the purpose and objectives of this process, the peculiarities of its legal and regulatory framework, which take into account the existence of a number of debt risks. Unlike existing ones, such approaches will provide an opportunity to develop an effective public debt management strategy and will optimize the processes of its formation, servicing and repayment; methodical approaches to assessing the efficiency of using borrowed resources on the basis of correlation and regression analysis, which, in contrast to existing ones, enable to form the basis for substantiation of the priority sources of attraction of credit resources and outline of perspective directions of their use; scientific and methodical tools for assessing the debt sustainability of the state through the systematization and addition of indicators of debt security indicators, which reflect the relationship of public debt with social processes and monetary policy. The proposed indicators will provide an opportunity to identify real threats to debt security and improve the efficiency of public debt management; the interpretation of the concept of "public debt management" is improved as a purposeful system process carried out by the subjects of the debt policy and provides a set of measures and procedures that involve the attraction of government loans, their use, debt servicing and repayment, aimed at increasing the efficiency of debt financing of public expenditures , ensuring economic security of the state, achieving a sustainable level of economic growth and innovation development. Have gained further development: scientific approaches to periodization of Ukraine's debt policy, which made it possible to identify the factors of the effectiveness of its implementation and to develop a number of recommendations aimed at improving the management of public debt in terms of optimizing the structure and instruments of attracting public borrowing, as well as rational use of credit resources; a substantiation of the dependence between the external and internal public debt of Ukraine, the minimum wage and the average level of incomes of citizens, which is based on the calculation of elasticity coefficients. This allowed to reveal the strength and direction of the relationship between the analyzed indicators, as well as trends in their dynamics, which would allow developing new vectors of debt policy taking into account the tasks of socio-economic development of the state; Theoretical and organizational approaches to the development of the market of government securities through the introduction of new and diversification of existing instruments of domestic state borrowing and the expansion of sources of attraction of internal credit resources. Scientific and methodological approaches to monitoring the effectiveness of investment projects from the point of view of using state borrowing for their financing, based on the use of a consolidated integral indicator of investment attractiveness. Scientific results have been introduced in the activities of the Main Department of the State Treasury Service of Ukraine in the Ternopil region, the financial management of the Ternopil City Council, the Ternopil Regional State Administration, as well as in the educational process of the Ternopil National Economic University. The scope of use is the work of the Ministry of Finance of Ukraine, the Committee of the Verkhovna Rada of Ukraine on budget issues.
