HOUSEHOLD FINANCE: ESSENCE AND ROLE IN DEVELOPING THE ECONOMIC POTENTIAL OF THE COUNTRY

Abstract

Recently, the role of households in the model of the circulation of goods and services, income and expenditure has been increasing, and therefore there is a need for a comprehensive analysis of their economic activities in order to identify the role of economic resources of households on the economic potential of the country. The paper considers the elements and functions of household finances, as well as analyzes the structure of GDP by expenditure as of 2019. Briefly demonstrated the statistical data characterizing the financial relations of households with the state and municipal Finance, commercial banks; insurance companies, commercial enterprises, etc. As a result, it was revealed that the largest volume of financial flows accounted for the purchase of goods and services, wages, loans and deposits of commercial banks.