BUDGET MANAGEMENT IN THE CONDITIONS OF GLOBALIZATION PROCESSES

Abstract

Abstract. In this article we prove that globalization processes lead to uncertainty of future macroeconomic indicators of the state. This makes complicated the effective management of financial resources and requires the implementation of measures aimed at the modernization of budget management. We determined that the lack of budget strategy in the context of globalization of economic processes, which are combined with external and internal risks, requires further modernization of economic methods of management. We substantiated that one of the directions of strengthening the country's economy is strategic forecasting of socio-economic development indicators, which take into account the impact of globalization on market transformation and development of integration trends, the formation of open economy and integration of enterprises into international communication systems. The article highlights the external and internal phenomena that affect the implementation of budget management in the context of globalization, and create risks for socio-economic development of the country. During the research we identified the indicators that serve as indicators of long-term planning and reflect the relationship of macroeconomic, financial, investment, innovation, social and other components of the economic system. Also, we outlined the tasks, the solution of which will increase the efficiency of budget management. We made an analysis of the total public debt and the state budget deficit of Ukraine from 2008 to 2020, which proved the low level of efficiency of budget forecasting due to the unwillingness of the national economy to withstand the impact of external and internal factors. We emphasize the fact that the effectiveness of budget management is based on the reliability and realism of macro indicators of economic and social development of Ukraine. We propose the measures to minimize the impact of negative factors on the budget process, its optimization and increase the efficiency of budget management in the conditions of unforeseen risks.