Proceedings of the International scientific and practical conference ―Oxford International Science Forum‖ (April 17-19, 2026) / Publisher website: www.naukainfo.com. - Oxford, United Kingdom, 2026. - 367 p.

18 Within the framework of budgetary policy objectives, special attention is focused on maintaining financial discipline, improving methods of managing financial and budgetary risks, and increasing the level of quality management of budget revenues and expenditures [2, p.67]. The risks of fiscal policy are extremely relevant in the current conditions of martial law, which lead to the loss of financial resources, a decrease in revenues, an increase in the budget deficit, public debt, a reduction in the volume of financing for infrastructure facilities, investment projects, the completeness of the implementation of budget programs, etc. They are commonly called fiscal risks. It is well known that the negative impact of public sector risks undermines the foundations of the stability of the functioning of the entire public administration system. Therefore, a clear understanding by public sector officials of the types, causes of risks and the relationship between them is a necessary condition for minimizing their negative consequences to ensure increased efficiency of the functioning of the entire public administration system. Before exploring the issue of risks, it is necessary to establish what risk is. Of course, for each industry, sphere of economic activity, risks will be different, as they reflect the specifics of the work, industry, and sphere of human activity. The term "risk" in translation from Greek means "rock", that is, in the literal sense, to take a risk - to avoid/go around a rock or other obstacle. Modern science uses the concept of "risk" in various theories, scientific schools, approaches, concepts and is currently widely used in practice. Risk, as a social phenomenon, has its own essence, corresponding patterns of development and management in a situation of unpredictability/uncertainty. Thus, according to the provisions of the Customs Code of Ukraine (clause 1, article 361), risk is understood as the probability of non-compliance with the requirements of the legislation of Ukraine on customs matters. As for risk management, it is the work of customs authorities to analyze risks, identify and assess risks, develop and practically implement measures aimed at minimizing risks, assess the effectiveness and control the application of these measures [3].