СURRENT ISSUES IN PUBLIC FINANCE MANAGEMENT IN TODAY’S CONTEXT

Abstract

The article reveals current problems in the process of public finance management in today’s conditions. Attention is drawn to the impact of active military operations in Ukraine on the effectiveness and efficiency of the public finance management process. The necessity of a close interconnection between the principles and functions of this process is substantiated, and the expediency of its adaptation in ensuring the movement of funds through budgets at various levels is proven. The study further develops scientific positions on the interpretation of the public finance management process based on key components. The author’s point of view on the essential content of the public finance management process in the context of the conceptual category “a set of methods and techniques of management cycles of budgets at various levels to ensure the movement of funds, which are capable, through the activities of executive bodies and within the limits of the powers of local self-government bodies defined by law, to carry out mobilization, rational distribution, and effective use of financial resources in order to fully cover the costs of the country’s defense capability and social support for its citizens, based on the close interconnection of selected principles and functions capable of creating an atmosphere of transparency, accessibility, control, and accountability of authorized persons for their actions in extraordinary conditions of development.” Justification is provided for each component selected to reveal the essence of the public finance management process. The necessity of implementing measures to improve the public finance management process, taking into account the identified problematic aspects, is proven.