Contemporary challenges of state’s financial policy in the social sphere

Abstract

The article is aimed at determining the bottlenecks of contemporary state’s financial policy development in social sphere and their relevant solutions. The study’s goal is considering the financial support of social sphere in conditions of curbing the state funding and widening the private financial sources without lowering the standard of living. It justifies the factors of social costs’ growth by spotting the social expenditures’ reserves, by analyzing the background of non-government funding sources of social services and by defining directions for further social solutions.