The influence of budget security on socio-economic development of Ukraine at the modern stage
Journal Title: Економіка. Фінанси. Право - Year 2019, Vol 4, Issue
Abstract
Introduction. Budget indicators are key in determining the overall state of national security, while increasing incomes and implementing effective expenditures is an indicator of its overall development. Budget security as an important factor in the socio-economic development of the state is a peculiar indicator of the effectiveness of the state budget policy. In order to meet public needs and fulfill the functions entrusted to the state, it is necessary to create centralized and decentralized money funds, since a significant part of national income is redistributed through the budget. That is why the issue of building an effective budget security system of the state is important. Purpose. To investigate the essence of budgetary security and its impact on the budget system of the country in the presence of real and potential threats. Results. The current state of the budget system of Ukraine was shaped by a number of destructive external and internal challenges that exacerbated the issue of ensuring budgetary security. Rational management of debt resources and a holistic budget deficit management system are the main tasks for ensuring an effective system of budgetary security of the state. The main threats posing a destructive impact on the state budget security include: excessive tax burden, inefficiency of the tax system, tax evasion; ineffective control over expenditures of budget funds and their uneven distribution, since a significant part is consumed rather than directed towards development; untimely adoption of the budget and reports on its implementation. Conclusion. Thus, fiscal security is an important priority of the development of the budget system of Ukraine, therefore, effective measures should be taken to increase the level of fiscal security in Ukraine. It is budgetary security that ensures the efficient use of budget funds and solvency of the country when balancing revenues and expenditures, implementing social policy, maintaining public administration, providing national defense and security. The formation of a stable fiscal policy and an effective model of public finance management is a key to stabilizing the dynamics of socio-economic development and ensuring budgetary security of the state.
Authors and Affiliations
Oksana Romanivna Zakhidna, Olha Viktorivna Kravtsova, Nataliia Volodymyrivna Nazar
Keywords
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