scholarly journals BUDGET INVESTMENT AT THE LOCAL LEVEL

2021 ◽  
Author(s):  
Natalya Yaroshevych ◽  
Andriy Yakymiv ◽  
Olha Chubka
Keyword(s):  
Economic Development ◽  
Regional Development ◽  
Financial Support ◽  
Local Level ◽  
The State ◽  
Capital Expenditures ◽  
Capital Investments ◽  
State Budget ◽  
Investment Projects ◽  
Socio Economic Development

The article investigates the structure and dynamics of capital expenditures and capital investments at the expense of local budgets during 2010-2019. It has been established that since 2015 in Ukraine there has been an increase in capital expenditures of local budgets, both in the total amount of expenditures of local budgets, and in GDP as well. This is due to the growth of the local budgets resource base in connection with the decentralization reform. Also, a positive trend of growth in the percentage of capital expenditures of local budgets is revealed. This fact reflects the budgetary investment intensification at the local level. It was found that the growth of capital expenditures from local budgets occurs in the direction of the growth of capital transfers to enterprises (up to 40% in the total amount of capital expenditures). This may be due to the replenishment of the registered capital of utilities, a significant part of which is formed because of a medical reform. Major maintenance, reconstruction and restoration traditionally remain at a high level in the structure of local budgets capital expenditures. The significance for local budgets and procedures for obtaining various types of financial support for regional development from the state budget is also studied. It has been established that the investment potential of local budgets is formed by their own revenues to the development budget, as well as by funding from the state budget in the form of subventions to local budgets for the formation of the united territorial communities infrastructure (0.3-0.4% in the revenues of local budgets); subventions for the implementation of measures for the certain territories socio-economic development (0.2-1.2%) and financing of investment projects at the expense of the State Fund for Regional Development (0.7-1.03%). It was found that the growth of capital investments from local budgets to a small extent depends on financial support from the state budget. It was also clarified that the use of funds for the regional development financial support at the expense of the state budget does not quite correspond to the goals defined by legal acts. The problems of the efficiency of financing investment projects at the expense of the SFRD funds and subventions of socio-economic development have been identified. Recommendations are given for eliminating the identified problems of the effectiveness of financing investment projects for regional development.

scholarly journals Investment subsidies as a source of revenues to local budgets

2021 ◽  
pp. 31-34
Author(s):  
Volodymyr HORYN ◽  
Nataliia KARPYSHYN
Keyword(s):  
Economic Development ◽  
Local Governments ◽  
The State ◽  
Infrastructure Development ◽  
State Budget ◽  
Investment Projects ◽  
Socio Economic Development ◽  
Water Mains

Introduction. Given the limited own resources of local self-government, it is important to ensure the effective functioning of the mechanism for providing investment subventions from the state budget. Such investment subventions include subventions for the formation of infrastructure in the united territorial communities and subventions for the implementation of measures of socio-economic development of separate territories. The purpose of the paper is the analysis of the mechanism of providing and using investment subventions to local budgets in order to identify disadvantages and eliminate them. Results. Providing an “infrastructure” subvention to local budgets has strengthened the capacity of united territorial communities and to some extent improved the quality of services provided to the population. During 2016–2019, UAH 6.5 billion was allocated from the State Budget of Ukraine to local budgets for infrastructure development and 9475 projects were implemented. With the help of these subventions, schools, kindergartens, outpatient clinics, cultural and sports institutions, water mains and roads were built and repaired, and specialized transport was purchased. However, in recent years, the role of this subvention has decreased significantly due to the fact that the number of UTCs that received an infrastructure subvention during 2016–2021 has increased significantly, and its volume has hardly changed. The amount of subventions from the state budget to local budgets for the implementation of measures for socio-economic development of certain territories has also decreased, which negatively affects the capacity of local governments in the field of investment projects. Conclusion. The volume of investment subventions remains insufficient, and their distribution is partly in a “manual mode”, which creates a favorable environment for political corruption and lobbying.

BUDGET INVESTMENTS IN UKRAINE: PRIORITIES AND TRENDS

2017 ◽  
Author(s):  
Natalya Yaroshevych ◽  
◽  
Andriy Yakymiv ◽  
Keyword(s):  
The State ◽  
Transport Infrastructure ◽  
Capital Expenditures ◽  
Development Projects ◽  
Capital Investments ◽  
State Budget ◽  
Investment Projects ◽  
State Management ◽  
State And Local ◽  
Budget System

The article investigates the priorities of budget investment and trends in the distribution of capital expenditures among the budgetary system levels in Ukraine during 2010-2019 period. It has been established that capital expenditures of budgets in Ukraine cannot be equated with capital investments from the budget, since they contain articles that are inconsistent with the classical understanding of investments. But the analysis of their dynamics and structure makes it possible to identify the priorities of budget investment and the distribution of budget investment among the budget system levels. It has been established that since 2015 in Ukraine there has been an increase in the share of capital expenditures of the consolidated budget in the total expenditures of the consolidated budget at the expense of local budgets, which are a consequence of an increase in the local budgets resource base in relation to the decentralization reform. A positive trend of growth in the percentage of capital expenditures fulfillment of both state and local budgets was revealed. Also, since 2015, a change in the ratio of capital expenditures among the levels of the budget system in the direction of the prevalence of local budgets and a change in the structure of capital expenditures of the state and local budgets has been revealed: in the state budget, capital transfers to enterprises that are a form of support for certain sectors of the economy are decreasing, but in local budgets they are growing. Thus, the economic function of the state to support individual sectors of the economy is delegated to local budgets. It also revealed a change in priorities in the structure of financing public investment projects from the state budget of Ukraine during 2019-2020 from social development projects to transport infrastructure development projects (70% of funding). It has been established that capital investments from budgets of all levels are not aimed at multiplying budget investments; therefore, an increase in budget capital expenditures does not guarantee the acceleration of the state economic development. The improvement of the investment activities state management system should be realized in the direction of formation and budgetary financing the investment projects that will contribute to the introduction of new technologies, the creation of new jobs and the investment attractiveness of the country.

scholarly journals THE INFLUENCE OF THE SHADOW ECONOMY ON THE SOCIO-ECONOMIC DEVELOPMENT OF UKRAINE

2021 ◽  
Author(s):  
Yuliia Romanovska ◽  
Lily Strapachuk
Keyword(s):  
Economic Development ◽  
Shadow Economy ◽  
Negative Impact ◽  
Economic Security ◽  
The State ◽  
State Budget ◽  
Socio Economic Development ◽  
High Inflation ◽  
High Level ◽  
The Impact

The article considers the approaches to the interpretation of the category "shadow economy", which causes a variety of approaches to assessing the impact of the shadow economy on the socio-economic development of Ukraine. The spread of the pandemic and the complication of economic conditions, formed as a result of the introduction of forced restrictive measures, have led to the growth of the shadow economy in Ukraine. The index of shadowing of the economic sphere in relation to the inflation index and the level of the state budget deficit has been studied. The factors that led to the shadowing of the economy and caused the growth of the share of the shadow sector in the economy of Ukraine are highlighted. The main components of shadow employment are identified. Business entities operating in the shadow sector have significantly more competitive advantages and much higher efficiency than legally operating businesses. As a result, such enterprises are an obstacle to the flow of funds to the budgets of all levels of the country, and as a consequence, have a negative impact on socio-economic development in general. In recent years, state budget expenditures have been growing too slowly, which indicates a high level of shadowing of the economy in conditions of high inflation and, consequently, negatively affects the socio-economic security of society. Budget expenditures are closely linked to public policy, which allows the state to curb the level of economic shadowing through measures to reform relevant areas. It is investigated that the State budget expenditures grow too slowly, which indicates a high level of shadowing of the economy in conditions of high inflation. The paper substantiates the reasons for the growth of the shadow economy and identifies the main measures to reduce shadow employment, the manifestations of which are the deformation of social and economic institutions of the state. The de-shadowing of the economy provides citizens with the right to social protection, in the form of social guarantees in case of unemployment, temporary incapacity for work, accidents or occupational diseases during official work, pensions, etc.

scholarly journals SOCIO-ECONOMIC INDICATORS OF TERRITORIAL REGION

2021 ◽  
Author(s):  
Yuliia Romanovska ◽  
Marina Makarenko ◽  
Veronika Khmaruk
Keyword(s):  
Economic Development ◽  
Social Protection ◽  
Swot Analysis ◽  
The State ◽  
Economic Indicators ◽  
State Budget ◽  
Internal Factors ◽  
The Social ◽  
Socio Economic Development ◽  
The Impact

The study of some indicators of the components of socio-economic development of the region on the example of Vinnytsia region, namely production, financial, demographic, scientific and technical, social, environmental. It is stated that the provision of socio-economic development of the territorial community is realized through the financial content of the social sphere at the expense of own municipal funds and subsidies from the state budget. The assessment of expenditures proves that the social protection of the Vinnytsia region ensures compliance with the constitutional guarantees of citizens. The studied indicators of the Vinnytsia region prove that the socio-economic development of the community is aimed at ensuring the statutory guarantees of social protection of citizens, as well as streamlining the existing system of municipal assistance, benefits and compensation. One of the most successful system technologies that allows you to assess the impact of external and internal factors is a SWOT-analysis. The results of the SWOT analysis make it possible to assess the ability to withstand threats, as well as to overcome internal shortcomings. Thus, the internal factors of socio-economic development of the Vinnytsia region are dominated by strengths. With regard to agriculture and industry, the situation in the region is currently exacerbated by a shortage of skilled labor, namely, specialists in engineering and manufacturing. External labor migration increases the risk of further development of the labor industry. Declared indicators of socio-economic development of the territorial community are considered in terms of a set of different social and economic goals, rational and reasonable use of municipal and state financial resources. The given separate indicators characterizing social and economic development of territorial community allow to define acceptability of conditions for life and development of the person, social and economic stability of community. Changes in social and economic indicators under the influence of internal factors are the basis for the formation of qualitative socio-economic development of the region and the state as a whole.

scholarly journals Tax regulation of socio-economic development

2020 ◽  
pp. 147-155
Author(s):  
Valeriy Koroviy
Keyword(s):  
Economic Development ◽  
Tax Policy ◽  
The State ◽  
Regulation Mechanism ◽  
State Budget ◽  
Tax Revenues ◽  
The Social ◽  
Socio Economic Development ◽  
The Impact ◽  
Tax Regulation

Relevance of research topic. Tax regulation is a key factor in ensuring economic development and social stability through a balance of fiscal and stimulus functions. The sources of accumulation of funds of financial resources are the taxes in various forms, which is provided by the fiscal function. The priority is represented by the formation of strategic goals of tax policy to achieve the goals of public financial management. It is necessary, under the current conditions, to improve the structure of tax revenues of the budget. Formulation of the problem. Further development of provisions for the development of a tax regulation mechanism will provide an opportunity to increase the degree of adaptability of the impact of taxation on the socio-economic environment. Important priorities in the activities of fiscal authorities are to improve the quality of the mechanism of tax administration, improving the model of the state tax risk-management. Analysis of recent research and publications. The development of the mechanism of tax regulation was considered by foreign scholars, in particular, A. J. Auerbach, R. M. Byrd, E. M. Zolt, J. Mehon, A. Laffer, J. Friedman, V. Tanzi. Their work reflects the importance of tax regulation to ensure progressive socio-economic development over the past decades. L. Lysyak, A. Mazaraki, M. Kuzhelev, A. Nikitishin, V. Makogon, L. Sidelnikova, I. Chugunov and other Ukrainian scientists have developed a concept for implementing of the tax policy in Ukraine in the context of economic system transformation. Selection of unexplored parts of the general problem. The mechanism of the tax regulation of socio-economic development needs further research. An important task of the state is to increase the effectiveness of fiscal incentives. The aim of the article is to improve the mechanism of formation and implementation of the mechanism of tax regulation of socio-economic development of the country in terms of structural changes in the financial system. Research methodology. The system approach and the method of comparative analysis, synthesis, logical approach and method of scientific abstraction are used. Techniques of statistical analysis were used in the study of the peculiarities of tax revenues and fees to the State Budget of Ukraine. Results of work. An analysis of the impact of the tax revenues on the dynamics of economic development for the period 2011-2019 was performed. The dynamics and the specific weight of the overpayment of the taxes and fees to the State Budget of Ukraine are studied. The directions of improvement of the system of tax administration are offered. Suggestions for improving the tax regulation mechanism are substantiated. Conclusions. Tax regulation is a very effective lever of influence on the dynamics of economic development and the social stability. At the center of the institutional mechanisms of its implementation is a set of redistributive relations regarding the social product. The development of the provisions for forecasting and planning of the tax policy measures in the context of globalization will provide an opportunity to increase the adaptability of the impact of tax regulation on economic development. In order to improve tax regulation in the formation of budget revenues, it is advisable to improve the quality of forecasting macroeconomic indicators of the country's development and planning of the tax revenues, and to increase the effectiveness of mechanisms for collecting and preventing the growth of tax debt. It is quite important and relevant to ensure a balanced tax policy, which should be based on a systematic approach to the interaction of the components of tax relations, taking into account the principles of fiscal sufficiency, neutrality, stability and cost-effectiveness of taxation.

scholarly journals Forecasting, Programming, Planning in Public Administration

2020 ◽  
pp. 123-130
Author(s):  
Kateryna PASTUKH
Keyword(s):  
Economic Development ◽  
Regional Development ◽  
Public Administration ◽  
Scientific Research ◽  
The State ◽  
Foreign Experience ◽  
Social And Economic Development ◽  
Socio Economic Development ◽  
Development Region ◽  
Main Components

In modern conditions, problems of social and economic development in Ukraine explains the need to pay attention to forecasting, programming, planning improvement in public administration. Scientific and theoretical bases of forecasting, programming, planning in public administration in Ukraine have been a point of many researches made by scientists. Over the recent years, the research of forecasting, programming, planning improvement in public administration in Ukraine is topical for the scholars in various domains, in particular, in the science of public administration. But lots of problems of forecasting, programming, planning in public administration in Ukraine are not fully researched. Forecasting, programming, planning in a public administration in Ukraine have been investigated. Heterogeneity of social and economic regional development and imperfection of governmental system in the field of regional development in Ukraine explain the need to pay attention to study and advancement of normative legal base of forecasting, programming, planning in Ukraine. The main components of normative legal base of forecasting, programming, planning in public administration in Ukraine are the Constitution of Ukraine, laws of Ukraine, acts of the President of Ukraine and acts of the Cabinet of Ministers of Ukraine etc. The conducted analysis of normative legal base of forecasting, programming, planning in Ukraine proves that there has not been created an interconnected normative legal base. In today’s conditions, the state of regional social and economic regional development require improvement of forecasting, programming, planning in public administration in Ukraine. The foreign experience of forecasting, programming, planning in public administration has been investigated. The further scientific research will be devoted to the improvement of normative legal base and organizational provision of forecasting, programming, planning in public administration. Keywords: forecasting, programming, planning, socio-economic development, region.

scholarly journals Capital Investment as a Component of State Investment Policy at the Regional Level

2020 ◽  
pp. 176-185
Author(s):  
Svitlana TARABAN
Keyword(s):  
Economic Development ◽  
Financial Stability ◽  
Value Added ◽  
Bank Lending ◽  
The State ◽  
High Tech ◽  
Capital Investments ◽  
Investment Activity ◽  
Socio Economic Development ◽  
Investment Process

The article examines the processes of inflow of investments into the economy of Ukraine, highlights the main problems and factors affecting investment activity and investment attractiveness of the country and regions. Functions of investments without which effective management and development of the economy of the state are impossible are considered. The peculiarities and tendencies of the investment activity in Ukraine are revealed, the ways to intensification of attraction of capital investments are determined. It has been found that the process of attracting capital investments in the Ukrainian economy has significantly slowed down due to the political and economic crises of recent years. As a result, the financial condition of enterprises has deteriorated, the number of unprofitable financial institutions has increased, the volume of bank lending to enterprises has decreased, the investment activity of foreign investors has decreased. Attention is drawn to the fact that the successful realization of the objectives of the socio-economic development of the regions depends on the efficiency of the organization of the investment process. The revitalization of the investment process is the main component of economic requirements, which are intended to identify real changes in the structure of the economy of the country and the region, to accelerate the transition of the economy to a qualitatively new level of industrial development, to improve the quality of domestic products and its competitiveness in the world market, to contribute to overcoming interregional disproportions, to provide growth in the state. The dynamics and structure of capital investments in Ukraine and Kharkiv region in 2017-2019 are analysed. The structure of capital investments for this period by sources of financing, types of economic activity, types of assets is studied. The conclusions on the materiality of the changes and direction that have occurred during this period have been made, the positive and unfavourable changes in the formation of capital investments have been characterized. It is determined that the socio-economic development of Ukraine is impossible without sufficient financing of capital investments. First of all, it is about modernizing the production of high-tech and competitive high-value-added goods and increasing their exports, as well as the introduction of innovative and energy-saving technologies. It is stated that the conditions for attracting investment in Ukraine are political, economic and financial stability, investment guarantees, improvement of legislative acts regulating investment activity and general improvement of the investment climate. Keywords: investment activity, capital investments, dynamics, structure, economic development, investment processes.

scholarly journals Features of formation of the state budget security

2019 ◽  
pp. 212-221
Author(s):  
Serhii Sobchuk
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Well Being ◽  
Economic Security ◽  
The State ◽  
Financial Resources ◽  
Main Task ◽  
State Budget ◽  
Socio Economic Development ◽  
Budget System

Relevance of the research topic. Socio-economic development, which is the main task and simultaneously an instrument for ensuring the effective functioning of the country and increasing the well-being of its population, is directly dependent on the effectiveness of fiscal policy. The choice of forms, methods and models of budget regulation allows to achieve the achieved results by allocation and redistributing the gross domestic product according to the priorities of ensuring economic growth. However, at the present stage, the danger of destructive influence on the budget system of endogenous and exogenous factors of influence increases. Thus, the analysis and characterization of the main approaches to the formation of the state budget security and determination of its increase the directions in the conditions of the country's transformation fiscal system and the limited financial resources are relevant. Formulation of the problem. Budgetary security as a component of the country's financial and economic security reflects the ability to effectively use financial resources accumulated in centralized and decentralized funds to ensure the country's financial stability, opportunities for expanded reproduction and social development. That is why it is expedient to determine the main threats to budget security, the degree of their impact on economic dynamics and possible options for their minimization. Analysis of recent research and publications. The work of foreign scientists is devoted to the study of the formation and assessment of the country's budget security: S. Blancart, J. Buchanan, J. Golden, R. Kelly, A. Rotfeld, A. Pigou, R. Dornbusch, J. Stiglitz, A. Hansen and others. Theoretical and practical contribution to the assessment of the budget regulation role of the socio-economic development and ensuring a sufficient level of its budgetary security of domestic scientists was made by O. Vasilik, V. Geyts, V. Gorbulin, A. Gritsenko, L. Lysyak, I. Lukyanenko, V. Oparin, S. Pirozhkov, V. Fedosov, I. Chugunov, S. Yuri and others. Selection of unexplored parts of the general problem. Highlighting issues become relevant in the face of increasing integration processes and financial globalization. It is important to develop the institutional framework for budget security, the expansion the system factors and indicators that characterize it, in accordance with international requirements and standards. Setting the task, the purpose of the study. The task of the study is to analyze the budget security characteristics. The aim of the study is to reveal the methodological and practical provisions of the formation Ukraine budget security in the context of the institutional modernization of the economy and to determine the directions of its increase by means of fiscal regulation. Method or methodology for conducting research. The article uses a set of methods and approaches of scientific knowledge, among which it is worth noting: systemic, structural, comparative, statistical, analysis and synthesis, synthesis and scientific abstraction. Presentation of the main material (results of work). The features of the formation of the country's budget security are determined. The main indicators of the functioning of the budget system of Ukraine are characterized and the degree of their influence on the level of budget security and socio-economic development is determined. The directions of increasing budget security in the context of institutional modernization of the economy are substantiated. The field of application of results. Organization and conduct of research on the formation and improvement of the budget security. Conclusions according to the article. The country's budget security is one of the main indicators of the level of development of the financial system. Providing long-term sustainability of public finances, balancing social and economic development is a priority task of state authorities. The main indicators of Ukraine's budget security show that there are destabilizing factors, but effective budget regulation will minimize their negative impact on the pace of economic growth. It is advisable to increase the level of budgetary discipline, improve medium-term budget planning and forecasting, form an effective strategy for managing public debt and budget deficit.

scholarly journals CONDITION OF FINANCIAL SUPPORT OF REGIONAL POLICY

2019 ◽  
Keyword(s):  
Economic Development ◽  
Regional Development ◽  
Financial Support ◽  
Regional Policy ◽  
Financial Policy ◽  
Financial Autonomy ◽  
Local Taxes ◽  
Socio Economic Development ◽  
Local Budget ◽  
Regional Financial Policy

The article assesses the financial support of regional policy. The theoretical and methodological foundations of regional financial policy in Ukraine are highlighted. The main instruments for securing this policy are the share of revenues assigned to territories in the budgets at all levels of the budget system, local taxes and fees, the rates of deductions from state taxes to local budgets, as well as subsidies provided to local budgets. It is noted that there is a considerable dependence of the development of the territories on the processes occurring in the higher level administrative units. The essence of regional financial policy as a spatial segment of public financial policy is revealed. Models of financing of regional development are given. The current model of financing regional development is multichannel, multilevel and includes both traditional financial institutions - state, local budget, and new institutions of mixed financing of the transformational economy. At the regional level, one of the main elements of the mechanism for regulating socio-economic development is the development and implementation of integrated regional programs aimed at improving the functioning of a particular sector of the economy. On the example of Kharkiv region, the mechanism of regulation of socio-economic development is analyzed by evaluating the effectiveness of regional financial policy implementation by individual indicators. The influence of local self-government bodies of Kharkiv region on formation of own financial policy is determined. According to the results of the research, the indicators of financial independence of local self-government were calculated: the coefficient of financial autonomy, the coefficient of financial dependence, the coefficient of autonomy, the ratio of the share of local taxes and fees in the structure of tax revenues. Based on the research, it is found that the share of state transfers in local budget revenues is gradually decreasing, financial dependence on public revenues is decreasing, tax revenues in the structure of local budgets are increasing, which indicates an increase in financial autonomy as a whole.

Conceptual principles of public management of socio-economic development of the region

2020 ◽  
pp. 35-45
Author(s):  
Maryna Skyba
Keyword(s):  
Economic Development ◽  
Regional Development ◽  
Local Governments ◽  
Public Management ◽  
Regional Policy ◽  
The State ◽  
Regional Level ◽  
Public Authorities ◽  
Socio Economic Development ◽  
Strategic Program

The analysis of the scientific sources devoted to problems of regional development is carried out. The article reveals that the organizational and legal basis for the regional policy has been formed the basic principles of regulation of socio-economic development at the regional level have been determined in Ukraine during the period of independence. The research shows that in the context of continuing administrative reform, the state regional policy, which is part of the national strategy of the socio-economic development of Ukraine, is closely linked to adjusting the administrative-territorial structure of the state. It is implemented by executive authorities and local governments through the system of methods, tools, means, measures for the realization of the defined purposes and maintenance of efficient, complex management of social and economic development at the regional level. The dynamics of the main indicators of socio-economic development at the regional level is presented. The paper shows that the GRP resumed growing in Donetsk and Luhansk regions. The analysis indicates the population reduction in all regions of Ukraine, except for Kyiv region, which is the leader in the number of arrivals; concentration of human resources in industrial regions (25% of the population of Ukraine is concentrated in Donetsk, Dnipropetrovsk, Kharkiv regions); GRP growth per capita in most oblasts and Poltava, Dnipropetrovsk, Kyiv (excluding Kyiv) oblasts reaching the leading positions; increasing level of concentration of production in cities with a population of over a million: Kyiv, Kharkiv and in the largest regional centers of Ukraine: Dnipro, Odesa, Lviv, and others. The paper proves that public authorities during the development of strategic, program decisions on regional development management should take into account the challenges caused by the geopolitical situation, the global crisis caused by the pandemic, climate change, man-made disasters, etc.

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