scholarly journals Budgetary Policy of Ukraine in the Sphere of Expenditure as a Basis for Prospective Economic Development

2019 ◽  
pp. 41-47
Author(s):  
O. Cheberyako ◽  
O. Klekota
Keyword(s):  
Economic Development ◽  
Graphical Representation ◽  
The State ◽  
Financial Policy ◽  
Budget Planning ◽  
Information Base ◽  
Budgetary Policy ◽  
Budget Policy ◽  
General Scientific ◽  
Different Levels

The main trends of budgetary policy in the sphere of expenditures are investigated as a basic condition for improvement of the system of management of budgetary expenditures. The structure of budget expenditures at different levels and the main directions of using budget expenditures are analyzed. The main measures of the state policy of Ukraine in the sphere of expenditures are revealed, depending on the cooperation with the IMF, as well as the proposals on amendments to the normative-legal acts of Ukraine in the field of program-target method and budget planning. General scientific and special methods of research, methods of grouping, classification and graphical representation of the achieved results are used. The information base of the research is the normative and legislative acts that regulate the financial policy of the state and, at the same time, the budgetary policy; monographs and articles of domestic and foreign economists in professional economic publications; materials of scientific conferences and seminars on budget policy.

Peculiarities of improving interbudgetary relations in conditions of authorities’ decentralization

2020 ◽  
pp. 46-54
Author(s):  
Zenoviy Siryk
Keyword(s):  
Economic Development ◽  
Social Development ◽  
Social Services ◽  
The State ◽  
Major Objective ◽  
Formal Approach ◽  
Advantages And Disadvantages ◽  
Local Areas ◽  
And Control ◽  
Different Levels

Ukraine is a unitary state, yet historically various regions, oblasts, districts, and local areas have different levels of economic development. To secure sustainable economic and social development and provide social services guaranteed by the state for each citizen according to the Constitution, the mechanism of redistribution between revenues and expenditures of oblasts, regions, and territories through the budgets of a higher level is used. The paper aims to research the peculiarities of improving interbudgetary relations in conditions of authorities’ decentralization. The paper defines the nature of interbudgetary relations. The basic and reverse subsidies to Ukraine and Lvivska oblast are analyzed. The advantages and disadvantages the communities face at changing approaches to balancing local budgets are determined. Regulative documents that cover the interbudgetary relations in Ukraine are analyzed. Special attention is paid to the problem of local finances reforming, including the development of interbudgetary relations. The scheme of the economic interbudgetary relations system in Ukraine is developed. The ways to improve the system of interbudgetary relations in Ukraine are suggested. The negative and positive aspects, advantages, and disadvantages of the system of interbudgetary relations in Ukraine require the following improvements. 1. It is necessary to avoid the complete budget alignment in the process of budgets balancing by interbudgetary transfers as the major objective. 2. The interbudgetary transfers should be distributed based on a formal approach. 3. The changes have to be introduced to the calculation of medical and educational subsidies in terms of financial standard of budget provision to avoid the money deficit for coverage of necessary expenditures. 4. There is a need to improve interbudgetary relations at the levels of districts, villages, towns, and cities of district subordination. 5. Improvement of the mechanism of targeted benefits provision, their real evaluation, and control for the use of funds.

BUDGET FORECASTING AND PLANNING: LOCAL AND FOREIGN EXPERIENCE

2020 ◽  
pp. 30-36
Author(s):  
E. Y. Lemeshko
Keyword(s):  
The State ◽  
Financial Policy ◽  
Budget Planning ◽  
Foreign Experience ◽  
Foreign Countries

Budget forecasting and planning plays an important role in conducting a sound financial policy. The effectiveness of processes and methods of budget forecasting and planning directly affects the economy of both the state and each territorial entity. The experience gained by foreign countries can be used in the process of reforming budget planning and forecasting in Russia

scholarly journals Formation of budgetary policy in the conditions of economic transformation

2021 ◽  
pp. 202-209
Author(s):  
Tatiana Kanyeva
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Fiscal Policy ◽  
Policy Development ◽  
Systematic Approach ◽  
Economic Transformation ◽  
Economic Relations ◽  
Budgetary Policy ◽  
Budget Policy

Relevance of the research topic. The implementation of an effective budget policy for the formation and implementation of the budget in the system of financial and economic relations plays an important role in the process of regulating the socio-economic development of the country. In the conditions of transformational transformations, budget policy is an important tool for the influence of public administration bodies on socio-economic processes. Improving the soundness of fiscal policy requires the application of a systematic approach given the importance of development and coordination of financial and budgetary institutions. Formulation of the problem. The importance of budget policy development in the conditions of transformational transformations is conditioned by the necessity of substantiation of conceptual provisions of coordination of components of financial and budgetary policy taking into account dynamism and cyclicity of economic processes. At the same time, when forming and executing the budget in order to ensure dynamic balance, an important condition is compliance with the principles of transformation, which determine the basic model of ensuring financial and budgetary stability and balance. Analysis of recent research and publications. The issue of budget policy development is quite common in research. These are the works of famous domestic and foreign scientists: J. Keynes, P. Samuelson, J. Stiglitz, S. Kucherenko, L. Lysyak, L. Levaeva, I. Lukyanenko, V. Makogon, M. Pasichny, I. Chugunov and others. Selection of unexplored parts of the general problem. The above issues are relevant in connection with the deepening of the processes of transformation. An important task is to increase the stability of the budget system, which will help create conditions for macroeconomic stability and sustainable economic growth. It is advisable to develop tools for budget regulation. Problem statement, research goals. The objectives of the study are: to reveal the role of budget policy of economic growth, to substantiate the peculiarities of the formation and implementation of budget policy. Carry out an analysis and assessment of the revenue and expenditure side of the state budget. The purpose of the study is to reveal the directions of budget policy in the conditions of transformational transformations. Method or methodology of the study. The article uses a set of research methods: a systematic approach, statistical analysis, structuring, analysis, synthesis, etc. Presentation of the main material (results of work). The role of budget policy of economic growth is revealed, the peculiarities of formation and implementation of budget policy are substantiated. The directions of budget policy in the conditions of transformational transformations are substantiated. Field of application of results. The results of the study can be used in the process of formation and implementation of financial and budgetary policy of Ukraine, reforming the public finance system and its components. Conclusions in accordance with the article. Fiscal policy is an effective tool of macroeconomic regulation, volatility of economic development and dynamism of social processes determines the need to develop new approaches to budget formation and implementation in the system of financial and economic relations in order to strengthen the regulatory financial and budgetary mechanism to stimulate economic growth. It is important to have a mutually agreed combination of components of the financial and budgetary mechanism, which will help optimize the budget architecture and ensure the innovative direction of economic development. The main prerequisites for ensuring a quality level of budget architecture are the effectiveness of approaches to institutional support for the development of the budget environment.

scholarly journals PROBLEMS OF BUDGET PLANNING IN CONDITIONS OF MACROECONOMIC INSTABILITY

2021 ◽  
Author(s):  
Oksana Posadnieva ◽  
Yana Rybitska
Keyword(s):  
The State ◽  
Medium Term ◽  
State Budget ◽  
Budget Planning ◽  
Developed Economies ◽  
External Threats ◽  
History Of ◽  
Budget Policy ◽  
Definition Of

The theoretical, methodological and practical principles of budget planning are considered in the work. The main economic and political factors that affect the quality of budget planning in a crisis economy are highlighted. The quality and efficiency of budget indicators planning during destructive events, internal and external threats are analyzed. The effectiveness of the state budget policy largely depends on effective budget planning. The principles of medium-term budget planning (Budget Declaration), which were introduced in our country and which aim to determine the general budget indicators for the next three years, should ensure the implementation of medium-term and long-term budget programs. However, the changing macroeconomic situation in the country and global economic challenges force the Budget Declaration to be revised annually. The main document of budget planning is the law on the State Budget of Ukraine for next year, and therefore the accuracy and completeness of its implementation depends on both medium-term budget planning and budget policy. The revenue part of the State Budget of Ukraine has a decisive influence on the formation expenditure’s part of the State Budget of Ukraine and a significant impact on the formation of local budgets. Therefore, the quality and accuracy of revenue planning is a necessary guarantee of socio-economic development of the state in the planned budget period. The execution of the revenue side of the state budget is also greatly influenced by foreign economic factors, which are not always predictable even for developed economies with a long history of budget risk forecasting, and for Ukraine sometimes become catastrophic, because our country does not have reserve funds as countries with developed economies. The purpose of the article is to consider and evaluate the theoretical and methodological and practical provisions of budget planning and develop on this basis practical recommendations for its improvement. In view of this, the paper revealed different approaches to the definition of «budget planning». The article considers the existing approaches to planning the revenue and expenditure side of the state budget. The authors identified factors that affect the quality of budget planning. The paper presents proposals for improving the efficiency of budget planning.

scholarly journals FOREIGN EXPERIENCE OF THE PARADIGM OF MEDIUM-TERM BUDGET PLANNING AND ITS APPLICATION IN UKRAINE

2020 ◽  
Author(s):  
Inna Zhuk ◽  
Svitlana Petrychuk
Keyword(s):  
Financial Management ◽  
The State ◽  
Planning System ◽  
Budget Process ◽  
Main Task ◽  
Medium Term ◽  
Budget Planning ◽  
European Experience ◽  
Effective Form ◽  
Budget Policy

The article examines the essence of medium-term budget planning, its tasks and stages of development in world, in particular European practice. The expediency of using a multi-year approach in the budget process and its advantages and disadvantages are proved. The peculiarities of medium-term budget planning of its function and methods of application in Ukraine are grounded. The toolkit and key elements to be implemented in the medium-term planning system according to the recommendations of the European Commission are described. The peculiarities of implementation of the program-target method as the most effective form of budgeting both at the state and regional levels are characterized. The directions of improvement of strategic financial management by means of introduction of budgetary medium-term planning in budgetary practice of Ukraine are determined. It is proved that the significance and urgency of medium-term budget planning in the budget process is quite significant, and most importantly, it is economically justified from the standpoint of all participants in budget relations. It is necessary to understand and note that the best international, in particular, European experience, should be a diagnostic indicator, not a template used to implement reforms. The main task is to develop procedures and mechanisms that will allow sector ministries and departments to plan expenditures based on reasonable assumptions about available budget resources and the state - to ensure transparency, flexibility and the possibility of operative adjustment of budget items taking into account changes in the budget policy of the country.

scholarly journals BUDGET POLICY AS AN INSTRUMENT OF SOCIO-ECONOMIC DEVELOPMENT OF THE COUNTRY

2019 ◽  
pp. 96-111
Author(s):  
Zhanna GARBAR ◽  
Nelia KONDUKOTSOVA
Keyword(s):  
Economic Development ◽  
Gross Domestic Product ◽  
Domestic Product ◽  
High Tech ◽  
Real Sector ◽  
The Real ◽  
Budgetary Policy ◽  
Socio Economic Development ◽  
Budget Policy ◽  
Budget System

The article defines the basic principles of budget policy formation as a tool for socio-economic development of the country. Budgetary policy has been found to be a powerful tool for ensuring macroeconomic stabilization and further activation of economic development processes. The necessity to study the impact of budgetary policy on the development of the real sector of the economy, to identify the problematic aspects of budgetary regulation of economic growth, to determine the directions of increasing the effectiveness of budgetary policy in the system of socio-economic development of the country is stressed. The main indicators of the budget system in the structure of the gross domestic product of Ukraine are described: revenues of the consolidated budget of Ukraine, expenditures of the consolidated budget of Ukraine, state debt. It is noted that the growth of budget expenditures and gross domestic product of the country is achieved through expansion of aggregate demand in the country, additional financial infusions, which have a positive impact on the pace of socio-economic development. It has been found out that use of the mechanism for financing the priorities of public financial policy at the expense of deficit funds allows to increase money supply in the economy of the country and to create preconditions for its involvement in the real sector of the economy. The features of formation of the mechanism of revenues and expenditures of the budget distribution between different levels of the budget system are generalized and systematized. It is stated that the structure of state budget expenditures is also characterized by a predominance of current expenditures over capital. It has been found that stimulating the development of the real sector of the economy is possible by increasing capital investment, deficit financing included. It is noted that the main source of capital investments in the economy of Ukraine at present is enterprises and organizations own funds. It is proved that the reorientation of government debt policy to financing the development of export and high-tech industries of the national economy is significant. Provision has been made for the feasibility of using public-private partnership mechanisms, which will make it possible to align existing budgetary resources with the volume of state guarantees and increase the efficiency of use of public financial resources in general.

EFFECTS OF A PUBLIC DEBT AND DEFICIT BUDGET

2018 ◽  
Vol 8 (2) ◽  
pp. 140-144
Author(s):  
Daniel Szybowski
Keyword(s):  
Economic Development ◽  
Public Debt ◽  
Budget Deficit ◽  
Foreign Capital ◽  
The State ◽  
Financial Policy ◽  
Foreign Investments ◽  
State Budget ◽  
The Public ◽  
High Level

The aim of the article is to present a problem concerning the effects of the public debt and the budget deficit. The public debt is a result of the lack of adequate income earned by the financial sector, what means that it must incur liabilities to be able to carry out its tasks or improper management of the state budget funds - what results in the budget deficit. The size of the state's debt and the public debt has a very large impact on the socio-economic situa-tion of the country as well as on its financial policy. Due to the high indebtedness of the state, the whole economy is disturbed, the state authorities are not able to allocate an adequate amount of the funds to stimulate invest-ments. Such actions slow down the dynamics of economic development, what means that the state authorities most often look for savings. Unfortunately, this usually happens at the expense of the ordinary(?) citizens. Countries that have a high level of the debts tend to lose their credibility internationally. This may result in the fall in the foreign investments and the outflow of the foreign capital.

scholarly journals The influence of budget policy on economic security and socio-economic development in the Ukraine

Ekonomika ◽  
2009 ◽  
Vol 85 ◽  
pp. 29-36 ◽  
Author(s):  
T. G. Zatonatska ◽  
A.V. Stavytskyy
Keyword(s):  
Economic Development ◽  
Positive Influence ◽  
Economic Security ◽  
The State ◽  
Social Sphere ◽  
External Threats ◽  
Socio Economic Development ◽  
Functional Forms ◽  
Budget Policy ◽  
Almost All

The consolidation of economic security of the state, its protection against all external threats should become one of the main directions in the realization of budget expenses in short-term and in long-term prospects. According to this conception, budget expenses are to finance top-priority components of economic security.Some theoretical and methodological approaches concerning the analysis of the influence of budget instruments on parameters of economic security and socio-economic development of the country are suggested.For conducting this investigation, certain econometric models with the best functional forms have been selected and analysed. The most important instruments in budget policy such as state buying, expenses for fundamental investigations, expenses for economic development and expenses for social sphere have been considered under the condition of the Ukrainian economy. The influence of budget instruments on certain parameters that characterize the economic security of the state has been worked out in detail. As a result of the investigation, the main threats for the Ukrainian economic security have been formulated and the ways out have been proposed.The authors state that in the process of the investigation almost all budget instruments have a positive influence on the level of Ukrainian economic security, they stimulate economic development and increasing of social living standards of the population.

scholarly journals Budget expenditure management in conditions of decentralization on the example of Ukraine

2021 ◽  
Vol 3 (4(59)) ◽  
pp. 41-45
Author(s):  
Olena Shaporenko
Keyword(s):  
Economic Development ◽  
Systems Approach ◽  
The State ◽  
Social Aspects ◽  
Budgetary Process ◽  
Budgetary Policy ◽  
Positive Effect ◽  
Practical Recommendations ◽  
Budget Expenditure

The object of this research is budget expenditures. The limited financial resources are typical for most countries of the world, therefore, it is important to find and improve the ways of forming and implementing the budgetary policy of the state at every stage of the budgetary process. The budget of any country reflects important economic and social aspects of the life of society as a whole and each person individually. Of course, the budget is a powerful regulator of the main economic processes. One of the most problematic areas is ineffective and inefficient use of budget expenditures. Therefore, this study is aimed at developing practical recommendations for optimizing the process of managing budget expenditures in the context of decentralization to ensure sustainable socio-economic development of the state. To achieve this aim, the author used the problems of managing budget expenditures on the example of Ukraine in the context of the introduction of decentralization processes in the country. The research used the methods of scientific abstraction, systems approach, grouping and classification. To determine the integrated indicator of the efficiency of budget expenditures management at the level of a budgetary institution, society, region, state, a statistical method was used that reflects the correlations of the constituent indicators. To optimize the process of managing budget expenditures, which is considered as a cycle of public policy, two main approaches are proposed. First, a change in the concept of budget expenditures management – a transition from the consumption budget to the development budget, which will allow achieving sustainable economic development in the long term. Secondly, it is proposed to introduce an assessment of the effectiveness of budget expenditure management by calculating an integrated indicator, consisting of all components that reflect the effectiveness of the budgetary policy being implemented. Thanks to the proposed methodology, it is possible to timely adjust the policy for managing budget expenditures in the event of an unsatisfactory value of the integrated indicator of the effectiveness of managing budget expenditures. This provides the advantage that such an adjustment will have a positive effect, since it will be carried out both at the level of a budgetary institution, society, region, and the state as a whole.

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