EXPENSES AND SAVINGS OF HOUSEHOLDS AS FACTOR OF ECONOMIC GROWTH

The economic analysis of the social environment, which uses household savings, has been carried out. It has revealed that the financial situation in Ukraine is unstable and does not contribute to the efficient use of these resources. The main macroeconomic indicators of social development are characterized by significant divergences. They result in unstable development, particularly in the financial system. The potential impact of households’ expenditures and savings on GDP has been investigated with the help of the linear regression model and the least squares calculation method. As a result, the moderate effect has been found out. The expenditure structure of population has been analyzed. It has determined that the bulk is spent on the purchase of goods and services, the payment of taxes, without investing in innovation. At the same time, the growth of financial assets in the expenditure structure of population from 2016 did not exceed 1—2%, which is much less than in European countries (5—10%). This means that the stock market is not sufficiently developed and should be improved in terms of legislative regulation, strengthening of guarantees and investment result. In order to increase the level of investment in household savings, a mechanism for transforming household savings into investment resources has been developed. Its implementation will significantly increase the interest of households in investments. Specific measures for attraction of household resources and investments have been offered for example: - to improve the legal and regulatory framework for the operation of investment resources; - to overcome bureaucratic obstacles in the way of using financial resources of households in investment; - to support the initiative of small and medium enterprises in relation to introduction of innovative projects; - to activate programs of public — private partnership; - practice the involvement of business entities in the development of startups with the use of financial resources of households etc.