STUDY OF THE CURRENT CIRCULATION OF GOVERNMENT BONDS AS THE MAIN TOOL OF INVESTMENT IN THE PERIOD OF ECONOMIC TRANSFORMATIONS

Abstract

The current state of the state securities market of Ukraine is at the stage of entering the system of international economic relations, but it lags behind the investment platforms of more developed countries. World experience emphasizes that government securities are considered a reliable and liquid capital investment that can be of interest to organizations, funds and the public. The topic under study is particularly relevant due to insufficient research on the issue of overcoming obstacles to building reliable economic relations on the government bond market. A comprehensive description of the practical aspects of this topic will allow government bonds to fully serve as a tool for patching holes in the state budget and will make it possible to be an extremely important tool for bringing the Ukrainian capital market to the level of industrially developed countries. The purpose of the article is to assess the current state of the state securities market of Ukraine, to familiarize with the features of bonds of the domestic state loan, to study the circulation of state bonds and to identify the problems of state regulation of the investment system. Definition of the goal is a clear sequence of tasks. The article examines the market of domestic state loan bonds (OVDP) as a tool for investing and influencing the economic state of the country. The operation of the securities market in Ukraine and the direct circulation of OVDP were studied. The profitability of placement on the primary market of OVDPs denominated in national and foreign currencies over the past two years has been analyzed. The main advantages of investing in OVDP for legal entities and individuals are highlighted. The circulation of OVDPs, which are owned by different categories of investors, was evaluated, and the possible risks of investing in temporarily free assets were indicated. It was concluded that one of the main tasks of today remains the introduction of a comprehensive strategy for solving the urgent problems of the state attracting funds from investments and purposeful investment of financial assets in activities and programs, which will result in the growth of the financial sector of the country's economy and the creation of a reliable infrastructure for citizens.