Uman National University | today: 05/23/2026
| Author(s) | Ptashnyk S., Candidate of Ekonomikal Sciences, , Uman National University of Horticulture | ||
|---|---|---|---|
| Category | Economics | ||
| year | 2026 | issue | Issue 108 part 2 |
| pages | 261-269 | index UDK | 336.1:338.124 | DOI | 10.32782/2415-8240-2026-108-2-261-269 (Link) |
| Abstract | This article examines the concept of state financial stability under conditions of economic and geopolitical crises, with particular attention to the challenges faced by Ukraine in recent years. Financial stability is considered as a complex and dynamic characteristic of the public financial system, which reflects the ability of the state to ensure the fulfillment of its financial obligations, maintain macroeconomic balance, and adapt to internal and external shocks. The study highlights that modern crises, including military conflict, global economic instability, inflationary pressure, and disruptions in international financial markets, significantly affect the functioning of public finances. These factors lead to increased budget deficits, rising public debt levels, and heightened dependence on external financial assistance. At the same time, they require governments to redesign fiscal and monetary policies in a more flexible and adaptive manner. Special attention is given to the interaction between fiscal and monetary policy as key instruments for maintaining macrofinancial stability. Fiscal policy plays a central role in resource redistribution and crisis response through public expenditures and taxation, while monetary policy ensures price stability and liquidity support within the financial system. The effectiveness of these policies is largely determined by their coordination, especially during periods of economic stress. The article also systematizes the main internal and external factors influencing financial stability, including budget structure, debt burden, institutional capacity, global economic cycles, and geopolitical risks. It is emphasized that the combined impact of these factors determines the resilience of the national financial system. Based on the analysis of macroeconomic indicators, the study reveals that crisis periods are characterized by a deterioration of fiscal balances and increased financial vulnerability. However, gradual stabilization trends observed in recent years indicate partial adaptation of Ukraine’s financial system to crisis conditions. The findings suggest that strengthening state financial stability requires a comprehensive approach that includes improving budget planning, optimizing public expenditures, enhancing public debt management, and ensuring effective coordination between fiscal and monetary authorities. These measures are essential for reducing financial risks and supporting long-term economic resilience. | ||
| Key words | state financial stability, economic crisis, public finances, fiscal policy, monetary policy, public debt, macrofinancial stability, financial security, crisis management, economic shocks | ||