The economic essence of public financial policy as a component of socio-economic development of the country as a set of institutional principles, forms, mechanisms and levers for managing financial processes at the macroeconomic level in accordance with identified priorities of social development to ensure dynamic balance of the financial system strengthening the influence of endogenous factors on the effectiveness of economic transformations. The basic principles of forming the financial policy of the state as an instrument of social development are substantiated, which provides for the application of effective innovative approaches to the formation of state financial resources, improving the quality of state financial and economic regulation, the impact of the financial mechanism on economic growth, effective social protection. Systematized approaches to the formation and implementation of public financial policy in countries with developed and transformational economies in conditions of economic recession and recovery of economic growth instruments depending on the state of the economic environment, the degree of fiscal balance, which will increase the level of effectiveness of the public financial management system. Conceptual bases of formation and realization of the basic directions of financial maintenance of social development of the country based on set of social and economic relations taking into account development of institutional architecture, fiscal efficiency of financial and budgetary system that will give the chance of increase of well-being of citizens, dynamic macroeconomic. budget and tax environment.
Improved approaches to the formation of tax revenues, taking into account the dynamics of economic and socio-demographic indicators, institutional features of taxation and the transformation of the mechanism of tax administration; provisions for determining the peculiarities of the development of the tax system, taking into account the implementation of state economic policy, the relationship between taxpayers and fiscal authorities; basic principles for the formation of financial policy of the state in the medium term, taking into account the cyclical nature of the economy; approaches to ensuring institutional constraints on the budget deficit, public debt to gross domestic product; provisions on financial globalization, taking into account the feasibility of strengthening international economic relations in the field of tax, budget, debt policy, integration of the country into the global financial environment, unification of financial mechanisms of economic development. In the conditions of institutional transformations of economy and social sphere; approaches to the financial mechanism of social security, social responsibility, justice of economic relations; provisions on the institutional basis for the formation of budget expenditures as an adaptive mechanism in the system of regulation of socio-economic development of the country; approaches to the priority directions of the state financial policy for the medium term, taking into account economic cyclicality.
