Scientific Bulletin of Mukachevo State University. Series “Economics”

Vol. 9, No. 1, 2022 25.03.2022 open access Open access

Ways to reform the banking system of Ukraine to ensure the financial stability of economic entities

Violetta Roshylo

DOI https://doi.org/10.52566/msu-econ.9(1).2022.34-40 Pages 34 –40 Views 1,745 Views

Abstract

 The article analyses the main directions of reforming the banking system of Ukraine. The relevance of the study is conditioned upon the need to improve the stability of the country's financial system. The reason for the decline in the economic situation is the political situation in Ukraine. The purpose of the study is to clarify ways to ensure the financial stability of enterprises for long-term and sustainable economic development. In the course of the research philosophical and general scientific methods were used , in particular historical-logical, economic-statistical, factorial methods, including theoretical and comparative analysis. The author assesses the consequences of the application of some methods at certain stages of development of the banking system, identifies the main priority areas of its development; the approaches to definition of essence and features of development of financial resources of the enterprise are analysed; the relationship between the financial stability of the state structure and the financial stability of the enterprise is identified; measures to ensure the financial stability of the enterprise, and opportunities to improve the system of ensuring and forecasting financial stability. The rapid development of information technology, which allows Ukrainian banks to expand the range of services; increasing the financial literacy of clients and implementing programs aimed at maintaining the stable condition of domestic financial institutions. A detailed analysis of management elements, functions and principles of development of financial resources of the enterprise is given. The analysis allows stating that the financial resources of the enterprise should be defined as a set of own funds of the organization and external financing, which can be used to form fixed and current assets needed to conduct business and support expanded production. Having a high transformative capacity, the financial resources of the enterprise are the main component of financial potential, a factor of economic and social development. The article identifies the factors influencing the financial stability of the enterprise, and areas for improving public financial control in the context of financial security of Ukraine. The urgency of the researched problem is determined by the need to develop a strategy of financial security of Ukraine in view of the problems that complicate it. Analysis of the financial stability of the enterprise is the most important step in assessing its performance and financial and economic well-being

Keywords

reform process, financial affordability, financial and economic condition, enterprise stability, financial literacy, financial development policy

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Suggested citation

Roshylo, V. (2022). Ways to reform the banking system of Ukraine to ensure the financial stability of economic entities. Scientific Bulletin of Mukachevo State University. Series “Economics”, 9(1), 34-40. https://doi.org/10.52566/msu-econ.9(1).2022.34-40