Боргові парадокси та орієнтири державного кредитування
Debt paradoxes and state lending guidelines

Summary/Abstract: The subject of the article is the theoretical basis of state financial relations in government borrowing.The purpose of this article is to define and analyze the theoretical foundations of the need for government borrowing, research the basic aspects of measuring the debt burden and economic impact of the existence of public debt in Ukraine, identify the main problems existing in the management of public debt and the methods used to overcome them, as well as consideration of the most optimal debt policy of Ukraine.We used methodical apparatus, consisting of research, analysis, synthesis and generalization when determining the basic concepts, causes, and classification of state loans and public debt, as well as clarification of the status of Ukraine's debt instruments using economic and mathematical modeling and graphical presentation of the results of research.The results of the work: The article reviews the main causes, economic meaning and role of the state loans, characterizes the main directions of state debt management, reviews baseline study of state loans and debt paradoxes, and shows ways of improving the debt policy of Ukraine in modern conditions and reference point of state loans.Sphere application of the results: Organizing and carrying out scientific research in the field of public finance and forming the main directions of public policy in regards to credit (debt) regulation.Conclusions: Today in Ukraine, the principle of transparency of information is violated on the use of funds raised through domestic borrowing, and this, in turn, contributes to inefficient use of debt funding. It was found that he national stock market and its high cost limited the involvement of internal resources through government loans. Accordingly, the development of market infrastructure, improving the quality of government securities in order to minimize the cost of borrowing will allow better use of the potential of domestic public debt.

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