Розвиток державного сектора економіки як гарантія інвестиційної безпеки України

Abstract

Досліджено роль державного сектора економіки України як чинника, що впливає на стан інвестиційної безпеки держави. Встановлено залежність темпу приросту ВВП від рівня інвестицій в основний капітал в Україні. З’ясовано потребу в новій системі управління державним сектором економіки та оподаткування, яка би сприяла його розвитку, збільшенню реальних інвестицій в економіку та достатньому рівню інвестиційної безпеки й витрат на науково-технічну та інноваційну діяльність в Україні.This article explores the role of the public sector of Ukraine’s economy as a factor affecting the status of the nation’s investment security. It further demonstrates the dependence of GDP growth rate on the level of fixed capital investment in Ukraine. The calculations of the author showed that in Ukraine, about 60% of GDP growth is due to the level of investment in fixed assets. According to the calculations, an increase in the share of gross fixed capital investments by one percentage point leads to an annual growth rate of GDP growth of 2.2 percentage points. The investment rate dropped from 17% in 2010 to 15.1% of GDP in 2016, while per capita GDP (in international 2011 USD and prices) decreased by 2% and reached USD 7,668, or 50.9% of the global average, in 2016. The trend towards a supercritical reduction of the share of the public sector in the economy, which was 11.1% already in 2016 and may plummet down to 6% in the long run, has been identified. A case is also made for a new governance system in the public sector that would contribute to its development, increase real investment in the economy and ensure a sufficient level of investment security and expenditure on science and technology, and innovation in Ukraine. Moving the focus of the Government’s attention to stabilization reforms on structural, especially in the state sector of the economy, will increase the efficiency of state-owned enterprises, reduce the interference of state officials in the economic activity of enterprises, while simultaneously improving the efficiency of state regulation, to fully involve an investment and innovation resource for the implementation of technical and technological renovation of production and infrastructure. The contribution dwells on improvements to the Tax Code of Ukraine that are required to stimulate domestic investment by internationally-owned companies and provide protection of the domestic economy from further offshorization.