BUDGET POLICY IN THE CONDITIONS OF ECONOMIC TRANSFORMATIONS
Abstract
The purpose of the study is reveal the essence of the budget and budget policy in the conditions of economic transformations. The effect of a competent budget policy on a level of economic development and growth of the country has been explored. The urgency of the topic is an opportunity to involve necessary resources and capabilities that will permanently improve budget processes and state service delivery. The works of leading Ukrainian scholars who have investigated the budgets and budget processes of Ukraine are analyzed. The study includes data from monthly report of the State Treasury Service of Ukraine about budget revenue and budget expenditures, data on the implementation of State Budget of Ukraine 2024 (level of its execution) and the drawt Law of Ukraine “Оn the State Budget 2025”. The study deals with issues of priority tasks of budget policy and ways of their implementation, priority tasks of the budget policy of countries with a high level of economic development, the concept of the Budget Declaration and the state of its implementation in Ukraine. Investments in the future such as healthcare, education, infrastructure, digitization of government services, or "A State in a Smartphone" state defence and security were determined by the Budget Declaration 2022-2024. Application of the programme-target method combining with medium term perspective planning ensures efficient management of the budget processes. Russia's full-scale invasion of Ukraine in 2022 has caused considerable economical damage. As a result, migration of population, a significant downswing in jobs, instant closure of small and medium businesses, decrease in income, diminished purchasing power. The directions of increase of efficiency of budget policy in conditions of economic changes have been defined. It is substantiated that in conditions of a full-scale war the question remains about optimization of the budget politics, adapting to economic transformations by searching optimal solutions for financing our state priorities, developing internal political and foreign political activities for issues related to аttracting financial resources and regular assessment of fiscal security risks.
References
Чугунов І.Я. Бюджетна стратегія суспільного розвитку : монографія. Київ : Київ. нац. торг.-екон. ун-т, 2021. 532 с.
Чугунов І., Макогон В. Бюджетно-податкова політика в умовах невизначеності. SCIENTIA FRUCTUOSA: Вісник Київського національного торговельно-економічного університету. 2023. С. 19–31.
Канєва Т.В. Бюджет у системі фінансово-економічних відносин : монографія. Київ : Київ. нац. торг.-екон. ун-т, 2021. 392 с.
Пасічний М.Д. Фінансова політика держави : монографія. Київ : Київ. нац. торг.-екон. ун-т, 2019. 440 с.
Господарський кодекс України від 16.01.2013 р. №436-IV. Дата оновлення: 22.02.2024. URL: https://zakon.rada.gov.ua/laws/show/436-15#Text
Коментарі експертів. Огляд інструментів підтримки фінансової стійкості у період воєнного стану в Україні (серпень-вересень 2024 р.). Національний інститут стратегічних досліджень. URL: https://niss.gov.ua/news/komentari-ekspertiv/ohlyad-instrumentiv-pidtrymky-finansovoyi-stiykosti-u-period-voyennoho-9
Канєва Т., Галабурда А. Бюджетна політика держави в умовах воєнного стану. SCIENTIA FRUCTUOSA : Вісник Київського національного торговельно-економічного університету. 2022. С. 98–109.
Проект Закону про Державний бюджет України на 2025 рік. Офіційний портал Верховної Ради України. URL: https://itd.rada.gov.ua/billInfo/Bills/Card/44888
Уряд схвалив проект Державного бюджету на 2025 рік до другого читання. Офіційний портал Міністерства фінансів України. URL: https://mof.gov.ua/uk/news/uriad_skhvaliv_proekt_derzhavnogo_biudzhetu_na_2025_rik_do_drugogo_chitannia-4880
Chuhunov I.Ya. (2021), Biudzhetna stratehiia suspil'noho rozvytku [Budget strategy of social development]. Kyiv: Kyiv National University of Trade and Economics, Ukraine.
Chuhunov I., Makohon V. (2023), “Budget and tax policy under conditions of uncertainty”, Visnyk KNTEU – Herald of Kyiv National University of Trade and Economics, pp. 19–31.
Kanieva T.V. (2021), Biudzhet u systemi finansovo-ekonomichnykh vidnosyn [Budget in the system of financial and economic relations]. Kyiv: Kyiv National University of Trade and Economics, Ukraine.
Pasichnyj M.D. (2019), Finansova polityka derzhavy [Financial policy of the state]. Kyiv: Kyiv National University of Trade and Economics, Ukraine.
Hospodars'kyj kodeks Ukrainy vid 16.01.2013 r. №436-IV. Available at: https://zakon.rada.gov.ua/laws/show/436-15#Text (Accessed 10 November 2024).
Official site of National institute for strategic studies (2024), Review of instruments for financial stability support during martial law in Ukraine (August-September 2024), Available at: https://niss.gov.ua/news/komentari-ekspertiv/ohlyad-instrumentiv-pidtrymky-finansovoyi-stiykosti-u-period-voyennoho-9 (Accessed 10 November 2024).
Kanieva T., Halaburda A. (2023), Biudzhetna polityka derzhavy v umovakh voiennoho stanu (2022), “Budget policy of the state under martial law”, Visnyk KNTEU – Herald of Kyiv National University of Trade and Economics, pp. 98–109.
Official site of The Verkhovna Rada of Ukraine (2024), The drawt Law of Ukraine “Оn the State Budget”, available at: https://itd.rada.gov.ua/billInfo/Bills/Card/44888 (Accessed 12 November 2024).
Official site of The Finance Ministry of Ukraine (2024), “The government adopted the draft budget for 2025 for second reading”, available at: https://itd.rada.gov.ua/billInfo/Bills/Card/44888 (Accessed 10 November 2024).
This work is licensed under a Creative Commons Attribution 4.0 International License.
