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Modern features of fiscal space functioning of Ukraine are investigated in this article, the conditions and trends of its formation in the context of global social and economic transformations are determined. The theoretical principles of forming the fiscal space of the state are considered. The author gives explanations of definitions: fiscal environment and fiscal space. The components of the fiscal space are outlined and the course of their interaction within the defined fiscal environment as the basic component of the mechanism of formation of mutual relations for the reproduction of the efficiency and effective functioning of the assimilative formations of the fiscal space is determined. The monitoring of the macroeconomic environment of the formation of the fiscal space in Ukraine has been monitored. Ukraine's place in international ratings has been shown and a number of key indicators has been analyzed, on the basis of which the main reasons for the exacerbation of permanent economic and social crises were clarified, as well as the main guidelines for overcoming them.

Current trends and macroeconomic effects of fiscal space functioning of Ukraine