DOMESTIC GOVERNMENT LOAN BONDS AS A TOOL FOR INVESTMENT IN THE ECONOMY OF UKRAINE DURING THE WAR

Abstract

In the conditions of war, the burden on the state budget is increasing, which, on the one hand, is caused by an increase in expenditures on defense and the social sphere, and on the other hand, by a decrease in income, due to the destruction of residential and industrial infrastructure, a decrease in the volume of GDP and population migration. In addition, the incomes of the population are rapidly decreasing, and as a result, the opportunities of citizens to donate and financially support the Armed Forces are becoming lower. In such difficult macroeconomic conditions, government bonds, including military bonds, are a powerful financial tool for attracting funds to the state budget and financing the army by individuals, legal entities and territorial communities. An important aspect of supporting the country's budget is the popularization of this method of investing funds to support the state in wartime. The purpose of the research is the peculiarities of issuance, placement, purchase and repayment of government bonds, including military bonds. The main results of the study are the determination of classification features and types of government bonds, the features of investing in government bonds, the establishment of the interrelationship of the powers of state authorities in the process of issuance and placement of government bonds, the analysis of the dynamics and structure of operations of economic entities and the NBU with government bonds. The article predicts bonds owned by the NBU depending on the total volume of issued bonds using the trend approximation method. Using the trend equation, we can forecast the volume of DGB, with the help of which the NBU carries out monetary regulation and ensures the attraction of funds to the state budget. Prospective areas of research in this direction are the development of predictive models for other subjects of the economy: legal entities and individuals as well as territorial communities. It is also important to popularize this type of investment in order to increase the state's financial resources in war conditions to ensure the country's defense.