FORECAST MEASUREMENT AND ANALYSIS OF UKRAINIAN GOVERNMENT DEBT SERVICE EXPENSES

Abstract

The meaning of the term «government debt» and its structure is researched. The current state of Ukrainian government debt within its types is characterized. Internal and external Ukrainian debt service expenses are analyzed. It is proved, that government debt service expenses constantly increase in absolute measurers as well as in comparison with general budget fund. Forecast measurements of government debt service expenses indicate further debt crisis escalation, as the peak of payments is expected in 2015-2016. It is determined, that debt service expenses increase may result in debt crisis and economic crisis. In order to decrease negative influence of increasing government debt service expenses on country’s economic development, it is suggested to decrease the cost of government debts by searching for the most beneficial debt conditions, and to determine legislatively registered marginal and optimal parameters of debt burden for the country. It is proved, that the direction of debt resources to solely investment projects enables to receive profit large enough to cover debt service expenses.