BUDGET POLICY AS AN INSTRUMENT OF SOCIO-ECONOMIC DEVELOPMENT OF THE COUNTRY

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The article defines the basic principles of budget policy formation as a tool for socio-economic development of the country. Budgetary policy has been found to be a powerful tool for ensuring macroeconomic stabilization and further activation of economic development processes. The necessity to study the impact of budgetary policy on the development of the real sector of the economy, to identify the problematic aspects of budgetary regulation of economic growth, to determine the directions of increasing the effectiveness of budgetary policy in the system of socio-economic development of the country is stressed. The main indicators of the budget system in the structure of the gross domestic product of Ukraine are described: revenues of the consolidated budget of Ukraine, expenditures of the consolidated budget of Ukraine, state debt. It is noted that the growth of budget expenditures and gross domestic product of the country is achieved through expansion of aggregate demand in the country, additional financial infusions, which have a positive impact on the pace of socio-economic development. It has been found out that use of the mechanism for financing the priorities of public financial policy at the expense of deficit funds allows to increase money supply in the economy of the country and to create preconditions for its involvement in the real sector of the economy. The features of formation of the mechanism of revenues and expenditures of the budget distribution between different levels of the budget system are generalized and systematized. It is stated that the structure of state budget expenditures is also characterized by a predominance of current expenditures over capital. It has been found that stimulating the development of the real sector of the economy is possible by increasing capital investment, deficit financing included. It is noted that the main source of capital investments in the economy of Ukraine at present is enterprises and organizations own funds. It is proved that the reorientation of government debt policy to financing the development of export and high-tech industries of the national economy is significant. Provision has been made for the feasibility of using public-private partnership mechanisms, which will make it possible to align existing budgetary resources with the volume of state guarantees and increase the efficiency of use of public financial resources in general.