EXPENDITURES OF THE CONSOLIDATED BUDGET OF UKRAINE FOR HUMAN CAPITAL DEVELOPMENT

The article analyzes the expenditures of the consolidated budget of Ukraine for human capital development. It is established the main directions of financial resources in the current conditions of economic transformation. In particular, expenditures on economic activity have been growing at a steadily high rate, both in the last two years and in the entire five-year period under study. In addition, spending on health and national defense has increased significantly over the past two years. However, in 2020, almost 7,0 percent less (for each sector) was allocated to environmental protection and housing and communal services than in the previous 2019, which is evidence of the government’s lack of attention to these important areas. To ensure the reform process, the education sector is funded at the appropriate level. It is noted that budget expenditures are an important tool for ensuring sustainable dynamics of socio-economic development of the country, improving the welfare of citizens, increasing the volume of public goods and social services. It is noted that in 2020 the execution of the state budget was carried out with a significant deficit, which increased 2,7 times compared to 2019. This situation, scientists and practitioners associated with the global pandemic COVID-19. The latter has significantly affected the consolidated budget expenditures and the allocation of financial resources to finance priority sectors of the economy. Emphasis is placed on the problems of non-adoption of the Budget Declaration, inefficient management and use of budget funds, which is to some extent a deterrent to the development of the national economy, human capital, economic growth. The directions of further researches of expenses of the consolidated budget of Ukraine in the context of separate branches and acceptance of effective administrative decisions are offered.