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FINANCIAL DECENTRALIZATION IN UKRAINE: CURRENT STATE AND DEVELOPMENT PROSPECTS

This article examines the current state and prospects for the development of financial decentralization in Ukraine. The author identifies the main contradiction of financial decentralization in Ukraine, which lies in the strong centralization of financial planning, budget administration, fiscal and control powers, and a high degree of decentralization of the actual costs of local governments. This contradiction generates significant risks and is due to the peculiarity of the system of delegation of rights and responsibilities within the framework of the national budgetary system of Ukraine. It is concluded that in order to neutralize the existing risks, financial decentralization in Ukraine should be carried out in such a way that the state authorities retain their real levers of influence on public finances, actively control the local government in terms of the use of financial resources; suppress the attempts of the regions to expand their powers in the field of financial management; create conditions for the balanced development of the regions by redistributing financial flows, using the tools of strategic state planning and public administration.