Виконання Державного бюджету України в умовах пандемії COVID-19

Abstract

The article analyzes the state of formation and efficiency of the State Budget of Ukraine. It has been established that budget expenditures exceed revenues and as a result, the budget has been formed over the last decade with a significant deficit, and the existence of a deficit leads to a movement in the "debt spiral". To implement the budget the Government is forced to borrow additional funds and attract them on acceptable terms, which has become increasingly difficult. Failure to receive the funds leads to late spending. The analysis of expenditures of the State Budget of Ukraine according to the functional classification is carried out, which testified to the main priorities of the state in modern conditions. Given Russia's aggression in the east of the country, it is logically justified to increase security and defense spending. However, it is advisable to review social expenditures, which are quite large in size and do not improve the quality of social services, on the contrary, restrain economic growth, the country's transition to an innovative model of development. In order to increase the efficiency of budget execution, the validity of macro indicators, it is advisable to introduce medium-term budget planning. Budget expenditures must be justified and balanced in order to achieve the most effective results of budget programs and the goals of the budget system of Ukraine. The study identified systemic shortcomings in the State Budget of Ukraine, which are repeated from year to year, as well as those that characterize the special year 2020 associated with the pandemic COVID-19. Emphasis is placed on the functioning of the domestic system of public financial control and its importance in reducing the volume of budget violations, the effectiveness of budget execution, promoting better functioning of the financial and budgetary system, ensuring sustainable dynamics of socio-economic development of the country.