Annotation: The main directions of fiscal policy of Ukraine, priorities and main tasks in this area for 2017 and 2018-2020 are explored. The income and expenditures of the State Budget of Ukraine for 2016 and 2017 are analyzed. It is concluded that the system of measures in the field of public finances is determined by the directions and goals of the budget policy and requires both the improvement of its individual components and the implementation of systemic measures to change the budget relations and the budgetary system. The process of fiscal policy development should be guided by the improvement of its components in the context of economic and social development in the present and the future. The prerequisites and consequences of the drafting of the State Budget of Ukraine for the relevant year should be economic recovery, sustainable development of society, ensuring the priority direction of budget funds for structural reforms in the main sectors of the economy and areas of activity, and establishing favorable conditions for doing business.