scholarly journals BUDGET PLANNING IN THE CONDITIONS OF INSTITUTIONAL TRANSFORMATIONS

2021 ◽  
Vol 135 (1) ◽  
pp. 90-100
Author(s):  
VDOVICHEN Anatolii ◽  
CHORNOVOL Alla ◽  
TABENSKA Yuliia
Keyword(s):  
Public Debt ◽  
The State ◽  
Planning System ◽  
State Budget ◽  
Budget Planning ◽  
State And Local ◽  
Methodological Principles ◽  
The Stability ◽  
The Impact

Background. Quality level of the budget planning is an important factor in ensuring balance of state and local budgets in the conditions of institutional transformations. Adop­tion of effective management decisions by public authorities and local governments involves the development of the budget planning system taking into account information technology, assessment of changes in socio-economic processes. The aim of the article is to reveal the areas of improvement of the budget planning system and its tools. Materials and methods. Thesystematic method has been used in determining nature and role of the budget planning in ensuring the stability and balance of state and local bud­gets. The comparative method is used in the process of generalizing the features of the budget planning tools. The method of scientific abstraction is used in the disclosure of theoretical and methodological principles of improving the budget planning system. The method of ana­lysis and the synthesis has been used to assess the planned and actual indicators (revenues, expenditures, deficit of the State Budget of Ukraine; public and guaranteed public debt). Results. The essence and role of the budget planning in ensuring the stability and balance of state and local budgets have been determined. Theoretical and methodological principles of functioning of the budget planning system have been revealed. The analysis and assessment of planned and actual indicators such as revenues, expenditures, deficit of the State Budget of Ukraine; public and guaranteed public debt for 2015–2019 have been made. The ways of improving the budget planning system in the conditions of institutional trans­formations have been substantiated. Conclusion. A detailed analysis and assessment of the impact of internal and external factors on the financial and economic environment is needed in order to develop the budget planning system in terms of institutional transformation. It will provide an opportunity to iden­tify regular trends in the dynamics of macroeconomic indicators and budget indicators. An im­portant task is to develop economic and mathematical models based on the assessment of eco­no­mic development opportunities of the country, the tax potential of administrative territorial units. Keywords: budget policy, budget system, budget planning, budget revenues, budget expenditures, budget deficit, public debt.

IMPACT OF GOVERNMENT DEBT ON FINANCIAL SECURITY OF UKRAINE

2017 ◽  
Author(s):  
Olena Pikaliuk ◽  
◽  
Dmitry Kovalenko ◽  
Keyword(s):  
Economic Development ◽  
Public Debt ◽  
Positive Impact ◽  
The State ◽  
Financial Security ◽  
State Budget ◽  
The Public ◽  
Debt Security ◽  
The Stability ◽  
The Impact

One of the main criteria for economic development is the size of the public debt and its dynamics. The article considers the impact of public debt on the financial security of Ukraine. The views of scientists on the essence of public debt and financial security of the state are substantiated. An analysis of the dynamics and structure of public debt of Ukraine for 2014-2019. It is proved that one of the main criteria for economic development is the size of public debt and its dynamics. State budget deficit, attracting and using loans to cover it have led to the formation and significant growth of public debt in Ukraine. The volume of public debt indicates an increase in the debt security of the state, which is a component of financial security. Therefore, the issue of the impact of public debt on the financial security of Ukraine is becoming increasingly relevant. The constant growth and large amounts of debt make it necessary to study it, which will have a positive impact on economic processes that will ensure the stability of the financial system and enhance its security.

Effectiveness of Tax Policy of Ukraine: Evidence and Economy Implications

2020 ◽  
pp. 124-131
Author(s):  
Olena P. Slavkova ◽  
Oksana I Zhilinska ◽  
Maksym Palienko
Keyword(s):  
Economic Development ◽  
Tax Evasion ◽  
Tax Policy ◽  
The State ◽  
State Budget ◽  
Advantages And Disadvantages ◽  
State Tax ◽  
State And Local ◽  
Tax Payments

The article deals with the peculiarities of the formation and implementation of tax policy in the country. The analysis of change of tax receipts to the state and local budgets is carried out. The role of tax payments in the economic development of the country is determined. The efficiency of the state tax policy in Ukraine is analyzed, its advantages and disadvantages are determined. The important role of tax payments in stimulating economic and social development is substantiated. The analysis of the elasticity of change of indicators of economic development of the country from the change of volume of tax receipts to the budget is carried out. The necessity of improving the existing policy of establishing, accrual, payment, and distribution of tax revenues as one of the most promising areas to stimulate economic growth is concluded. Keywords: tax policy, revenues, tax evasion, state budget, elasticity, economic development

scholarly journals Le rôle des entreprises et leurs comportements sur la stabilité du système financier

2021 ◽  
Vol 14 (2) ◽  
pp. 85-103
Author(s):  
Farelle Yandza Ikahaud ◽  
Mohamed El Haddad
Keyword(s):  
Bibliometric Analysis ◽  
Empirical Work ◽  
Financial System ◽  
The State ◽  
Scientific Interest ◽  
Number Of Publications ◽  
The Stability ◽  
The Impact

Investment determines the sustainability and prosperity of an economy. The paper seeks to (1) give an overview of the roles of companies on the stability of the financial system, based on existing theoretical and empirical work; and (2) to highlight the reasons which expose them to the non-application of their duties against the State. For this purpose, a bibliometric analysis using the Direct Science database was employed. The results of the analysis allowed us to study the search trend by analyzing the distribution of publications, authors, types of publications and fields of research and also showed that the themes of the study are of great scientific interest because of the surge in the number of publications on the role of companies over the last ten years averaging 76.3 per year while 1,690 were on the impact of company behaviour on the stability of the financial system.

scholarly journals Budget expenses as a tool for economic development

2019 ◽  
pp. 167-173
Author(s):  
Yuliya Markuts
Keyword(s):  
Economic Development ◽  
Optimal Allocation ◽  
Planning Process ◽  
Regulatory System ◽  
The State ◽  
Planning System ◽  
Quality Level ◽  
State And Local ◽  
The Impact ◽  
Budget Expenditure

Relevance of the research topic. Budget expenditures are significant tool of influence on social and economic processes, and perform reproductive, regulatory, incentive, social function. The issues of improving the budget expenditure planning system is relevant and interrelated with the expansion of the tasks facing financial and budget institutions in the course of their activities. Formulation of the problem. The study essentially budget as a tool for economic development is quite an important issue at the present stage of transformational changes, because the more efficient use of financial resources, redistributed through the budget system depends on the understanding of the nature of this category, and the main factors that determine its development. Analysis of recent research and publications. The issue of budget expenditures in the current economic conditions of the country, their effective creation and distribution, and the impact on social development as well, are presented in the works of local and foreign scientists T. Bogolib, V. Heyets, I. Zapatrina, J. M. Keynes, N. Kornienko, A. Laffer, L. Lisyak, I. Lukyanenko, I. Lunina, I. Lyutyi, A. Mazaraki, R. Masgrayev, V. Makogon, V. Oparin, M. Pasichnyi, A. Smith, J. Stiglitz, V. Fedosov, I. Chugunov, S. Yurii and others. Selection of unexplored parts of the general problem. However, given the transformation in the fiscal policy of our country, it is appropriate to increase the quality level of the budget expenditure as a tool for economic development in the financial regulatory system. Setting the task, the purpose of the study. The purpise of the study is to determine the directions of planning budget expenditures as a tool for the economic development of the country. Objectives of the study: to analyze the share of state and local budgets in the structure of the consolidated budget and Ukraine’s GDP, determine the impact of the expenditures of the consolidated budget of Ukraine on the economic development of the country, consider the features of using the program-targeted method as a tool to achieve the established financial priorities of the state. Method or methodology for conducting research. The article uses a set of scientific methods: the system approach, statistical analysis, structuring, analysis and synthesis. Presentation of the main material (results of work). The article identifies the importance of effective planning of budget expenditures as a tool for economic development of the country, substantiates the impact of budget expenditures on socio-economic processes, identifies features of using the program-target method in achieving the established financial priorities of the state. The field of application of results. The results of this study can be applied in the budget expenditure planning process. Conclusions according to the article. Budget expenditures are an effective instrument of financial regulation, have a significant impact on structural transformations in sectors of the economy and the social sphere. It is important to ensure the optimal allocation of a limited amount of budgetary funds in the areas of socio-economic development, to ensure compliance of the budget expenditure structure with certain strategic goals of the country. In the formation of budget targets, it is important to consider the performance of the implementation of state targeted and budget programs for the previous period.

scholarly journals Estimating the fiscal and regulatory role of value added tax

2020 ◽  
Vol 67 (6) ◽  
pp. 129-136
Author(s):  
Z. Lobodina ◽  
A. Kizyma ◽  
L. Marushchak
Keyword(s):  
Low Income ◽  
Local Governments ◽  
Value Added ◽  
The State ◽  
Value Added Tax ◽  
State Budget ◽  
Tax Rate ◽  
Fiscal Efficiency ◽  
The Impact

The impact of value added tax (hereinafter – VAT) on the socio-economic development of the state is investigated in this paper. Here it is considered as a tool of the mechanism of budgetary resources formation and regulation of taxpayers’ welfare and activities. It is determined that, in addition to the reduction of tax rate, the public authorities and local governments should provide favorable conditions for doing business, implement measures for anticorruption and market anti-monopoly. To compensate for the expences of budgetary resources occurring as a result of possible reduction in the value added tax rate, it is necessary to look for alternative sources of pumping up the state budget. Such situation could weaken Ukraine's competitiveness, increase distrust of potential investors, and deactivate attracting investments into the country's economy. In order to stimulate certain economic activities, to increase the volume or the level of availability of certain goods (services)consumption, the tax legislation provides certain preferences for value added tax, particularly – lowering the tax rate, tax exemptions, , tax credit, tax benefits. In addition, the regulatory impact of VAT as a financial instrument on the taxation system is revealed in this paper. The peculiarities of VAT administration in Ukraine and foreign countries are highlighted, the dynamics, tendencies of receipt and reimbursement of VAT in Ukraine are considered. The reasons for tax refund arrears are given and ways to improve VAT administration are proposed. Analysis of the assessment of VAT fiscal efficiency is carried out, the indicators of the assessment of this tax fiscal efficiency are determined. Despite the permanent increase in the absolute amount of this tax and its share in gross domestic product (hereinafter – GDP) and state budget revenues, the fiscal role of VAT is weakened due to such problems as regressive impact on low-income populations, tax evasion and minimization of tax liabilities, growth of volumes of VAT refunds at the expense of budgetary resource.

scholarly journals Introduction and implementation of the medium-term budget planning system in Ukraine: the experience of Germany

2020 ◽  
Vol 66 (5) ◽  
pp. 78-92
Author(s):  
M. Dubyna ◽  
Yu. Honcharenko ◽  
O. Kalchenko
Keyword(s):  
Developed Countries ◽  
The State ◽  
Planning System ◽  
Budget Process ◽  
Medium Term ◽  
Fiscal Discipline ◽  
State Budget ◽  
Budget Planning ◽  
Advantages And Disadvantages ◽  
Rational Distribution

The need for effective budget planning in Ukraine in order to ensure effective and transparent implementation of the budget process generates the necessity for scientific understanding of the transfer of European practice of medium-term budget planning (MTBP) in domestic realities. Despite numerous developments of scientists concerning the possibilities of improving the procedure of medium-term budget planning (MTBP) in Ukraine, it is important to identify the features of its implementation based on the experienceof developed countries, which will allow us, taking into consideration the obtained results, to deepen further scientific and applied aspects of improving the medium-term budget planning system in Ukraine, to increase the efficiency of its implementation. One of such example is Germany's experience in introducing and implementing the medium-term budget planning. The main purpose of the investigation is the analysis of the budget planning in Ukraine, particularly, the factors influencing it, to determine the opportunities of the application of Germany’s experience concerning the introduction and implementation of the medium-term budget planning. The main advantages and disadvantages of using the MTBP procedure over the traditional (annual) budget are summarized in this paper. Factors of the MTBP development in Germany and other EU countries, particularly: effectiveness of regional practice; post-crisis period of national economies and the world economy; purposefulness of countries to the EU integration; significant amounts of public debt; implementation and enforcement of Directive 2011/85/EU in 2011 are established. Combination of all five preconditions available in Ukraine should ensure the accelerated development of the MTBP. It is determined that the use of German experience for the improvement of medium-term budget planning in Ukraine will contribute to rational distribution of budget resources between the budget system levels, increasing the level of predictability of the state budget policy, improving the macroeconomic balance, fiscal discipline and investment attractiveness of the country. It is noted that the non-fulfillment of the planned indicators of the state budget in Ukraine is due to the inefficient organization of the MTBP and the influence of macroeconomic environment factors.

scholarly journals Medium-Term Budget Planning in Ukraine: The Problems and Prospects for Implementation

2021 ◽  
Vol 4 (519) ◽  
pp. 190-195
Author(s):  
A. V. Nechyporenko ◽  
Keyword(s):  
The State ◽  
Planning System ◽  
The European Union ◽  
Medium Term ◽  
State Budget ◽  
Budget Planning ◽  
Finance Management ◽  
Effective Implementation ◽  
Strategic Goals ◽  
Budget Policy

The article is aimed at disclosing and substantiating the peculiarities of the introduction and implementation of medium-term budget planning in Ukraine. Medium-term budget planning is defined as an approach to planning and managing public finances, which expands the horizon for the formation of budget policy for three to five years and allows to plan and forecast budget revenues and expenditures necessary for the implementation of strategic goals of the State budget policy in the medium term. The article considers the main functions of the medium-term budget planning system. It is noted that the European Union is assessing the development of medium-term planning, namely: the «Quality Index», which provides for the highest assessment according to five criteria. In Ukraine, medium-term planning accounts for about 65% of the expenditures of the national governance sector. Medium-term budget planning should become an important instrument for public finance management, which will not only allow to have a high-quality and sound financial plan for the medium perspective, but will also be the basis for the development of the State-based socio-economic policy. Both the advantages and the disadvantages of medium-term budget planning are considered, attention is also paid to the disclosure of factors that currently hinder the development of both the State itself and the mechanism of implementation of medium-term budget planning in Ukraine. The directions and measures that should be taken to ensure the development of medium-term budget planning in Ukraine are substantiated, as well as the positive consequences of the effective implementation and implementation of medium-term budget planning in the country are determined.

scholarly journals STATE BUDGET APPROPRIATION MANAGERS AS THE SUBJECTS OF BUDGET PLANNING IN THE REPUBLIC OF LITHUANIA

2018 ◽  
Vol 1 (4) ◽  
pp. 38-45
Author(s):  
Bronius Sudavicius
Keyword(s):  
Planning Process ◽  
Scientific Literature ◽  
The State ◽  
State Budget ◽  
Important Place ◽  
Budget Planning ◽  
Ministry Of Finance ◽  
The Republic ◽  
The Government

The subject. The article deals with the problem of legal status of the state budget appropriation managers in the process of budget planning in the Republic of Lithuania.The purpose of the article is evaluation of state budget appropriation managers’ role in the process of budget planning in the Republic of Lithuania.The methodology of research is the analysis of the budgetary legislation of the Republic of Lithuania and the scientific literature, using the methods of logical and systematic analysis and other methods of scientific researchMain results, and scope of it’s application. The legal definition and the system of state budget appropriation managers is analyzed in the article. Particular attention is given to the question of role of state budget appropriation managers in the process of budget framework. The role of the Government and Parliament, as well as a special body of management of public finances (in the Republic of Lithuania, the Ministry of Finance) – legislative and executive authorities – is emphasized in the scientific literature. But it is often not mentioned what an important place in this process other participants of budgetary relations – state budget appropriation managers – takes. The main participation of state budget appropriation managers in the budget planning process related to the planning of the budget expenditures.Preparation of strategic plans and programmes of budgetary funds by state budget appropriation managers can be considered part of governance activities in general. For budget planning drawn up draft budgets of the programs by state budget appropriation managers is particularly important.Conclusions. The efficiency of the use of state funds depends on the spending of funds, the quality and validity of the developed programmes of activities led by their agencies. State budget appropriation managers are involved, along with other entities, on each stage of the budget planning. They provide the Ministry of Finance the data necessary for the compilation and clarification of the macroeconomic and fiscal forecast; they constitute the programmes, which are funded by the state; finally, state budget appropriation managers are prepare programs, which later becomes the basis of the entire draft state budget.

scholarly journals ECONOMIC CONTENT AND CLASSIFICATION OF PUBLIC DEBT

2021 ◽  
Author(s):  
Nataliia Zhmurko ◽  
Olga Rudyk ◽  
Tetiana Hrynkevych
Keyword(s):  
Public Debt ◽  
The State ◽  
Economic Life ◽  
Financial Policy ◽  
Role Of The State ◽  
Detailed Classification ◽  
State Economy ◽  
The Stability

The appropriate use of debt funds and proper servicing of public debt is determined by the stability of the economy. The solution to these issues will determine the effectiveness of the implementation of budgetary policy in the state, the stability of the national currency. To solve these problems, the search for ways and methods for effective management and servicing of public debt in the country is being carried out. It is quite reasonable to consider public debt as an important instrument of financial policy in the state. It is the main criterion for determining how effective the economy is and how well the state performs its functions both at the national and international levels. Economists at different times had different approaches to determining public debt, the expediency of borrowing by the state and the role of the state in the economic life of the country and the resulting further opportunity to accept debts and manage financial resources. However, today economists cite a number of features, functions of public debt, and scientists have developed different approaches to understanding this concept based on the criteria of the sources of their formation and characteristics. Approaches to the interpretation of public debt are extremely different, thereby complementing each other and show how complex the subject of research is and how broadly it can be interpreted. There are many approaches to determining public debt, as well as its impact on the state economy. Some approaches complement each other, others completely contradict each other. However, the tendency for the state to take on debts, whether external or internal, remains inevitable. And the expediency and justification of taking such, it will be possible to speak only on the fact of use of these means and development or, on the contrary, decline of economy. However, public debt as an economic category is an integral part of the state’s economy, where the state acts as an active participant in debt relations. That is why in the article the authors highlight the economic content and purpose of public debt on the basis of the works of well-known domestic and foreign economists highlight its main functions, carry out a detailed classification of debt borrowings according to a number of features.

BUDGET MECHANISM: CHALLENGES OF TODAY

2021 ◽  
Vol 1 (21(49)) ◽  
pp. 94-99
Author(s):  
Inna Servatynska
Keyword(s):  
Health Insurance ◽  
Public Debt ◽  
The State ◽  
Financial Resources ◽  
Pension Insurance ◽  
State Budget ◽  
Macroeconomic Forecasting ◽  
Budget Planning ◽  
Compulsory Health Insurance ◽  
Definition Of

The definition of "budgetary mechanism" was analyzed in the article. It is described as a form by which the fund of financial resources is managed by influencing economic entities. The components of the budgetary mechanism that do not function effectively and lead to cyclical consequences in particular, the deficit of budget funds, tax pressure on taxpayers and, as a consequence, the accumulation of public debt, are identified. The shortcomings of certain components of the budget mechanism are substantiated, in particular: budget planning and forecasting; as analysis showed, are carried out inconsistently with each other. Thus, the State Budget of Ukraine is formed not depending on the capacity of the economy and its subjects, but depending on the needs of passive budget items. Passive budget items are growing systematically. There are a number of remarks on the applied forms of the budgetary mechanism, for example, payment of taxes and customs payments to the budget is ineffective, because a significant share of taxes is in the "shadow". Therefore, the amount of shadow budget funds is 30%, including smuggling 9.3%, payment of salaries in envelopes 5%, offshore schemes 3.6%, conversion centers 1.8%. The reasons for the inefficiency of the budgetary mechanism in terms of legal support are systematic changes in legislation, which are sometimes caused by lobbying motives. Ways to improve the budgetary mechanism are identified, for example, comparison of macroeconomic forecasts and budget planning; involvement of business in the processes of macroeconomic forecasting and budget planning; de-shadowing of the economy, including transparent payment of salaries through the implementation of a progressive taxation; payment of customs duties; State budget discharge through the introduction of compulsory health insurance and additional pension insurance levels.

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