Marianovych M. State financial support for sustainable development of Ukraine

The essence of formation of the system of state financial support of sustainable development is revealed, which consists in creation of institutional bases in the field of strategic economic development at the state and local level and ensuring effective use of budgetary funds and private investments for achievement of national Sustainable Development Goals, support for the implementation of public-private partnership, the provision of state guarantees, the introduction of long-term budget commitments in the application of the appropriate financial and budgetary mechanism for the implementation of socially significant projects. Approaches to the development of financial support for sustainable development planning have been improved, in particular, by strengthening the transparency and coordinating function of the state to achieve the Sustainable Development Goals, improving the system of financial monitoring and control in this area, increasing the financial capacity of public administration bodies; basic principles for the formation of state financial policy for the development of socially significant infrastructure, the availability of which is a necessary condition for achieving national indicators of the Sustainable Development Goals, the definition of appropriate sources of funding; methodological approaches to the introduction of effective financial mechanisms for the implementation of infrastructure projects in the process of planning state capital expenditures, which will increase the efficiency of budget resources. The experience of using national indicators of Sustainable Development Goals to assess the effectiveness of budget expenditures in countries with developed and transformational economies is generalized and systematized, which can be the basis for introducing into the budget process global practices of state financial support for sustainable development. Approaches to increase the efficiency of borrowing by international financial organizations, ensure the socio-economic development of the country taking into account national objectives to achieve the Sustainable Development Goals, increase the institutional capacity of public administration bodies have been further developed; provisions for assessing the financial potential and role of the private sector in countries with economies in transformation in ensuring sustainable development, including the formation of appropriate infrastructure in the field of life support, the availability of which significantly affects the environment and quality of life.