Abstract
The transition to future-oriented medium-term budget planning has been an important innovation in the budget process of Ukraine. Since then, the main budget indicators are calculated for the next three years with a forecast that allows for systemic reforms in several areas. This paper aims to identify problems of implementing budget planning for generating an envisaged and balanced budget in conjunction with the priorities of the state. The current status of budget planning and budget performance is analyzed by reviewing budget legislation, budget reporting, information-analytical and presentation data of state authorities and local governments, the experience of developed countries that have achieved some success in medium-term budget planning in terms of income and spending. The paper also reveals the features and advantages of medium-term budget planning based on the result; explores the approaches to transparent, effective, and high-quality use of budget funds with a limited potential of the state to increase tax revenues. The implementation of budget planning is due to the need for further development of the budget process in Ukraine towards increasing predictability, transparency, stabilizing the budget in the medium term, and solving important problems of efficient and high-quality use of budget funds for economic and social recovery.
Highlights
The development of the budget process in Ukraine from the point of view of improving budget planning is gradual. This mainly concerns the creation of an appropriate legal framework focused on the requirements for the budget systems of developed countries, mainly member states of the Organization for Economic Cooperation and Development (OECD), which successfully implement public administration policies, and the European Union, where medium-term budget planning is considered the standard of sound budget planning
Predictability of budget parameters aimed at implementing development priorities is an important direction of the budget process at the planning stage; it helps in ensuring predictability of reforms, transparency and openness, strengthening control over the use of budget funds, and improving the quality of budget services, budget stability and predictability, control over the level of government debt
The study results enabled us to determine that in the context of modernizing the budget process, it is necessary to conduct a balanced macroeconomic policy using economic incentives and restrained fiscal policy
Summary
The development of the budget process in Ukraine from the point of view of improving budget planning is gradual. Among the areas of the RF budget ance of intended use and freedom of choice of a policy are reduction in mortality due to prevencitizen (the ability to choose goods, services, their tion and increased detection of diseases in the suppliers, as well as convenient places and times early stages; improving the primary care system; of purchase, including via the Internet, which is improving medical infrastructure and eliminatespecially important for people with limited mo- ing the shortage of medical workers; equipment bility); reduction in administrative costs The state budget provides measures for specific recipients based on reliable information the prevention and monitoring of major socialfrom state information systems in the field of social ly significant non-communicable diseases, prosecurity (Government of Russian Federation, 2019). vides conditions for sanitary and epidemiological well-being, increases information responsibility
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