Foreign financial policies in a time of systemic crisis

The paper presents the author's definition of financial policy and analyzes the peculiarities of budgetary policy of foreign countries in times of crisis. The dynamics of the size of public debt in different countries is analyzed. Analysis of budget deficits has been carried out, and total budget expenditures as a percentage of GDP have been examined. The world practice of government borrowing is assessed. Particular attention is paid to the extremely lax monetary policy pursued by Western countries. The limitations for different countries in implementing such policies to restructure their economies depending on the status of their national currencies are revealed. Specific indicators are formulated to determine what kind of financial policy a country pursues and what are the objective constraints in its choice of policy type. The aim of the paper is to compare the financial policy actions of national governments as well as those of central banks, from which conclusions are drawn about the type of financial policies implemented in the states under systemic crisis.