Key Determinants of Public Financial Management in a Market Environment

The article examines the influence of internal and external factors on the system of public finance management in a market economy. It highlights the necessity of a comprehensive approach to financial governance that takes into account institutional, economic, and external determinants. Particular attention is given to the role of fiscal and tax policies, debt instruments, and financial control mechanisms as key elements in ensuring the stability of public finances. The study identifies major groups of factors that determine the efficiency of the public finance management system and demonstrates their impact on the sustainability of the revenue and expenditure framework of the state budget. The article emphasizes the importance of adaptability of financial management to changing conditions of the market environment and global economy. The results obtained make it possible to formulate practical recommendations aimed at improving the system of public finance management, strengthening economic resilience, reducing risks, and enhancing the effectiveness of fiscal policy implementation.