MONETARY AND FISCAL COORDINATION IN UKRAINE AND ITS IMPACT ON ECONOMIC GROWTH UNDER THE CONDITIONS OF MARITAL STATE

The purpose of this paper is to examine the effectiveness of monetary and fiscal policy instruments, to determine the level of influence of monetary and fiscal factors on eco-nomic growth, as well as to justify ways for improving the effectiveness of monetary and fiscal policy coordination. Insufficient coordination of monetary and fiscal policies entails devastating economic consequences. The critical analysis of scientific publica-tions proved that today the coordination of monetary and fiscal policies depends on the degree of balanced regulation of interest rates and inflation control. The research uses a NARDL model to capture mainstream trends in the influence of monetary and fiscal factors, as wellas in the empirical study of their coordination. According to the estima-tions it was established that the weighted average rate of NBU instruments is absorbed to a greater extent in the monetary component of coordination, the system of managing the internal public debt - in the fiscal component. The participation of monetary author-ities in the management of the national internal debt remains a debatable issue today. It is proved that the process of coordination of monetary and fiscal policies is influencedby the state of Ukraine's economy during the war.Despite the difficult political and economic situation in Ukraine, it is necessary to focus on improving the coordination of monetary and fiscal policies. In particular, the signifi-cant contribution of theNBU in financing the state budget deficit due to their purchase of government bonds needs to be resolved. Strengthening the role of macroprudential policy in the coordination of monetary and fiscal policies, one of the goals of which is to counter the emergence of a systemic crisis; formation of a clearly developed coordina-tion strategy, which would be based on clearly defined goals, set tasks on the basis of selected methods and instruments for their achievement.