THE ROLE AND PLACE OF FINANCIAL SECURITY IN THE SYSTEM OF STRENGTHENING ECONOMIC SECURITY OF THE STATE

Abstract

The purpose of the article is to substantiate the theoretical and practical foundations of the study of the role and place of financial security in the system of strengthening the economic security of the state. The intensification of crisis phenomena in the financial sphere of the state leads to a slowdown in the rate of economic growth and ensuring a sufficient level of economic security of the financial system. In today's conditions of persistent instability, the state is unable to properly protect its own national economic interests, which leads to a critical decrease in the level of its financial security. The outlined trends determine the urgent need to find ways to increase the level of financial security of the state and ensure the stability of the entire economic system. The article reviews the main scientific approaches to understanding the essence of the scientific category "financial security of the state", highlights its place in the system of strengthening the economic security of the state. The analysis of the dynamics of the level of financial security of Ukraine during 2008–2021 was carried out and it was found that the decrease in its level is observed during periods of socio-economic and socio-political crises. The main problems of ensuring financial security in the system of strengthening the economic security of the state are singled out, among the most important of which there is an increase in the burden on the budget system at the national, regional and local levels, increasing inflationary factors, devaluation of the national currency, a sharp increase in the state debt and a reduction in the sources of its financing, inefficiency banking, insurance and tax systems. The need to develop a set of measures to effectively counteract risks and threats that have a destructive effect on the level of financial security of the state is substantiated. The main directions of ensuring the financial security of the state by revising and improving the financial policy are proposed.