Open AccessLEGAL MEANS AND INSTRUMENTS OF REGULATION ECONOMIC RELATIONS IN UKRAINE
Author(s) -
I.S. Pyroha,
S.S. Pyroha
Publication year - 2021
Publication title -
analìtično-porìvnâlʹne pravoznavstvo
Language(s) - English
Resource type - Journals
ISSN - 2788-6018
DOI - 10.24144/2788-6018.2021.02.8
Subject(s) - exchange rate , devaluation , order (exchange) , constitution , deficit spending , state (computer science) , interdependence , obligation , economics , competition (biology) , business , monetary economics , debt , macroeconomics , finance , law , political science , mathematics , ecology , algorithm , biology
The paper investigates the most optimal forms and methods of legal influence on public relations in the field of economics. The absence of the main element of the economic mechanism – competition requires a proper assessment of the causes of existing problems, the right choice and the optimal set of means of influencing economic relations in order to accelerate the socio-economic development of Ukraine. Among the numerous legal problems of state regulation of the socio-economic sphere, two are identified, which are interdependent – ensuring the stability of the hryvnia exchange rate and increasing the share of goods of own production in the domestic market. To ensure the stability of the hryvnia exchange rate, the need to fix it for a long time with the establishment of an allowable range of fluctuations, in which the exchange rate changes in both directions with equal probability, is substantiated. The devaluation of the exchange rate should not be planned in the State Budget and used as a way to hide its actual deficit. The real budget deficit should be determined by the sum of the percentage of hryvnia devaluation and the percentage of the planned direct budget deficit. The hryvnia exchange rate should not be fixed in the State Budget, as such a provision of the law releases the National Bank of Ukraine from the constitutional obligation to ensure the stability of the hryvnia exchange rate provided for in Art. 99 of the Constitution of Ukraine. The means of maintaining a stable hryvnia exchange rate is to increase the share of goods / services of own production in the domestic market and to reach the minimum critical level of 50% within one or two years. To assess the achieved level, it is not necessary to use statistical indicators, but only the actual amounts of VAT contributed to the budget received from the sale of goods / services. Achieving the proposed level involves the transition to innovation and investment model of economic development. Two own sources of investment are proposed – the introduction of a new tax on exported capital and the forced legalization of capital exported from Ukraine earlier.