Risk management in the field of public finance in Ukraine

Abstract

This article researches the theoretical approaches to the place and role of risk management in the field of state governance of the economy. The concepts of “risk” and “risk management” pertaining to the activity of state authorities have been defined. The problems that arise in the field of public finance management are identified, as well as the problems relating to the experience of applying the Methodology for assessing fiscal risks associated with the activities of state-owned enterprises. The possibility of introducing international risk management standards and best practices of risk management in public administration, which are used by the EU member states, into Ukraine has been identified. This article presents the results of an expert survey on the problems and ways of introducing risk management into the activities of the Ministry of Finance of Ukraine. The survey showed that the field of public finance in Ukraine needs to implement modern approaches to risk management.