Problem setting. Public finances, as a particular type of relations in the economic system, are aimed at ensuring the exercise of social interests. Therefore, managerial functions and their efficiency in this sphere are of great importance, as the success of all management activities of the State depends on their effectiveness. The search for strategic horizons able to ensure the success of managerial actions in the public finance sphere, the consolidation of strategic priorities for its development is crucial issues for the progress of the Ukrainian State on the path of progressive transformations.Recent research and publications analysis. Management of state finances is a subject of research of many scientists. In particular, R. Balakin, V. Kudriashov, S. Hasanov, O. Dluhopolskyi, T. Yefymenko, O. Kyrylenko, S. Klimova, H. Kotina, I. Malyi, O. Moldovan, and others dealt with these issues. The analysis of their publications allows us to define future ways for developing and reforming the system of state finances. At the same time, the concept of public finances versus state ones is much broader. Therefore, it requires a deeper and more detailed approach for substantiation of ways and strategies for improving the management of public finances in current conditions.Highlighting previously unsettled parts of the general problem. The article aims to substantiate the development of strategies for improving the management of public finances, taking into account modern challenges and development of the Ukrainian State, based on the research of peculiarities of the existing strategies for public finance management, analysis of the problems related to the distribution and redistribution of state funds. Paper main body. The sphere of public finances is regulated by a number of normative documents that define strategic directions for its development. First of all, we should mention the Public Administration Reform Strategy of Ukraine for the period up to 2021, which aims to improve public administration, including the system of state finance management. The Cabinet of Ministers of Ukraine approved the Public Administration Reform Strategy of Ukraine for 2022-2025 and adopted the Action Plan for its implementation. This normative document accentuates ensuring the construction of a capable service and digital State in Ukraine, which safeguards citizens’ interests on the basis of European standards and experience. The peculiarities of public finance management in the system of public administration, its aim and objectives, were determined in the Public Finance Management Reform Strategy for 2017-2020, approved by the Resolution of the Cabinet of Ministers of Ukraine. However, the goals set in it need further consolidation. It necessitates the adoption of the Public Finance Management Reform Strategy for 2021-2025. The preparation of its final stage was negotiated at the meeting of the Sectoral Working Group on Public Finance Management of the Ministry of Finance of Ukraine in May 2021. A brief overview of the documents that define the strategies for the development of relations in the system of public finances and public administration, in general, gives grounds to assert that there is sufficient normative support in this area in the context of its strategic development. However, a number of problems remained unsolved during the implementation of provisions of the abovementioned strategies. Nowadays, there is a need in Ukraine to improve the management of public finances, especially in the use of budget funds, to perfect functional responsibilities of public authorities, and to search for new strategic approaches to the use of public sector financial resources to ensure the sustainable development of the national economy.One of the crucial directions for solving these problems is the introduction and implementation of the Strategy for the Development of the Public Finance Management System of Ukraine, which should become an effective tool for regulating relations in the public finance sphere and a means of influencing the consistency and effectiveness of reforms in it.It is necessary to adopt a medium-term Fiscal Consolidation Strategy based on the predominance of reducing spending over increasing revenues of the State. The Strategy should be adopted in terms of state budget execution, taking into account fiscal efficiency.In the conditions of growing informatization of the society, automation of all processes, and digitalization of the economy, it is necessary to form a Strategy for automation of the system of public finance management, which should become an effective tool for ensuring the improvement of the investigated sphere.All strategies for improving public finance management should be based on the principles of transparency of public authorities, stability and sustainability of the budget in the long run, budgeting effectiveness, fairness and efficiency of the system of inter-budget relations, consolidation of the budget process. The active use of the latest information technologies leading to the improvement of financial management and coordination of managerial activities of public authorities should accompany the implementation of strategies. Conclusions of the research. In the system of public finances, there is a sufficient number of normative documents that determine strategic directions for its development. However, mostly all of them regulate the peculiarities of the functioning of the sphere of state finances, while public finances is a broader concept than the state ones. Therefore, this shortcoming, along with the objective need to search ways for further development of the sphere of public finances, taking into account current realities, necessitates the development and adoption of a number of strategies that will determine directions for the improvement of public finance management.
Strategies for improving public finance management