Sound public finances stimulate economic growth, says Oleksiy Lyubchenko

Ukraine's public finances must restore the status of an effective institution of fiscal policy, which fully performs all three of its classic functions: macroeconomic stabilization, revenue redistribution and resource allocation to stimulate economic growth and social development. Such theses were provided by the First Deputy Prime Minister - Minister of Economy of Ukraine Oleksiy Lyubchenko in the article "Key objectives for economic growth of Ukraine" for LB.ua.

Oleksiy Lyubchenko determined the core measures of this block:

• Balanced fiscal policy that provides a balanced impact on the real economy and the state of public debt.
• Development of fiscal instruments to support investment: public investment in infrastructure; state guarantees for investment projects; compensation of interest on investment projects; public-private partnerships and concessions; tax incentives to intensify investment.
• Effective redistribution of economic income through fiscal policy measures with an emphasis on equalizing the profitability of various activities and reducing inequality (including tax policy measures).