REFORM OF THE PUBLIC INVESTMENT MANAGEMENT SYSTEM IN UKRAINE IN THE CONTEXT OF POST-WAR ECONOMIC RECOVERY

Abstract

The article examines the reform of the public investment management system in Ukraine in the context of post-war economic recovery. The relevance of the topic is determined by the need to ensure effective use of public financial resources and external support allocated to the reconstruction of infrastructure, modernization of the production base, and restoration of the country’s socio-economic potential. It is substantiated that under conditions of large-scale destruction, the effectiveness of recovery policy depends not only on the amount of funding available but also on the quality of institutional mechanisms for planning, selecting, implementing, and monitoring investment projects. The purpose of the study is to substantiate the directions for reforming the public investment management system in Ukraine, taking into account the needs of post-war economic recovery. The methodological basis of the study includes methods of analysis and synthesis, a systemic approach, a comparative method, and the method of generalization of scientific sources and analytical materials of international organizations. The paper identifies the role of public investment in rebuilding infrastructure, stimulating economic activity, supporting employment, and creating conditions for attracting private capital. It also reveals the key weaknesses of the current public investment management system in Ukraine, including insufficient coordination among public authorities, weak integration of strategic and budget planning, imperfect project selection procedures, limited monitoring of project outcomes, and insufficient transparency. As a result, the study substantiates the priority directions for reforming the public investment management system, including strengthening strategic planning, improving project prioritization procedures, digitalizing management processes, developing public-private partnership mechanisms, and implementing a system for evaluating the results of investment programs. The practical significance of the findings lies in the possibility of using them in the formation of state financial policy, the development of recovery programs, and the improvement of the institutional architecture of public investment management in Ukraine. The proposed approaches can contribute to increasing the efficiency of public spending and to creating a more sustainable framework for Ukraine’s long-term economic recovery.