Budgeting under martial law

Abstract

In the conditions of martial law, the issues of ensuring the preservation of the national economy and further economic development are becoming relevant. An important condition for this is an efficient mechanism for the formation and implementation of the state budget. The budget formation mechanism is an important tool for ensuring sustainable economic develop­ment of the country while maintaining the stability of the budget system. The aim of the article is to determine the peculiarities of budgeting in the conditions of martial law. The research presented in the article is based on the hypothesis of the need to strengthen the financial potential of budgets of all levels at the expense of their revenues. Strengthening the income part will contribute to achieving economic stability and balance and determine the pace of social and economic development. The research methodology is based on general scientific and special methods. The main research methods are dialectical and institutional. Structural, compa­rative, method of scientific abstraction, analysis and expert evaluations were also used. Adap­tation of the budget formation system to social and economic changes and determination of priority directions for the further development of financial and budgetary relations require attention. For the thoroughness of the study, the structure of the revenue part of the state budget was analyzed during 2019–2023. The dynamics of attracting international financial aid and its share in the state budget were evaluated. In the course of the research, modern adaptation and transformation mechanisms implemented in budget policy under martial law conditions were determined. New approaches to the formation of the revenue part of the budget have been studied. On the basis of the conducted research, promising directions for improving the forma­tion of state budget revenues have been deter­mined, which will allow the budget system to function more effectively and efficiently. It is expedient to further improve the system of bud­get formation in terms of creating and imple­menting effective financial mechanisms of bud­get policy, with the aim of further social and eco­nomic development of the country. To increase the effectiveness of budget poli­cy in the conditions of martial law, it is necessary to strengthen the use of the principles of stability, financial and economic soundness, social jus­tice, and budget balance in the budget process