The impact of the public debt of a country on the sustainable development of entrepreneurship

Dmytro Zhuravlov, Mykhailo Prokhorenko (), Tamara Chernadchuk, Vitaliy Omelyanenko and Valentyna Shevchenko
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Dmytro Zhuravlov: Office of the President of Ukraine, Ukraine
Mykhailo Prokhorenko: National Defense University of Ukraine named after Ivan Cherniakhovskyi, Ukraine
Tamara Chernadchuk: Sumy National Agrarian University, Ukraine
Vitaliy Omelyanenko: Institute of Industrial Economics of National Academy of Sciences of Ukraine, Ukraine
Valentyna Shevchenko: Alfred Nobel University, Ukraine

Entrepreneurship and Sustainability Issues, 2021, vol. 8, issue 4, 654-667

Abstract: It is substantiated that as of today the transition to the concept of debt sustainability, which affects the sustainable development of entrepreneurship, is dominant over other areas. The purpose of the study is scientific substantiation of the ways of transformation of debt management in Ukraine, taking into account the experience of EU countries, strengthening of the medium-term aspect of public and state-guaranteed debt management for the purpose of enhancement of sustainable development of entrepreneurship. An analysis of the best practices of the member states of the European Union, in particular the new member states of the European Union, regarding the experience of debt management, which is relevant for Ukraine, was carried out. On the basis of statistical indicators, it is substantiated that these countries in the implementation of public debt management strategy have effectively made the transition to debt management based on the concept of debt sustainability. The use of mechanisms and tools of the concept of debt sustainability in debt management allowed countries such as Hungary, Poland, Bulgaria, Latvia to significantly improve key debt indicators and indicates the correctness and feasibility of using this approach in modern conditions. It is proven that the main area of improving public debt management in Ukraine is the formation of a systematic approach to risk management on the part of the authorized body. This approach should include continuous monitoring of the full range of debt operations, analysis of the reasons, which led to deviations from the planned indicators and the application of the necessary management decisions aimed at the unconditional achievement of debt policy objectives.

Keywords: sustainable development; entrepreneurship; public debt; management strategy; debt sustainability (search for similar items in EconPapers)
JEL-codes: K23 Q01 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouesi:v:8:y:2021:i:4:p:654-667

DOI: 10.9770/jesi.2021.8.4(40)

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