Abstract
The financial system significant element is consolidated budget, which includes all levels budgets and certain types of centralized funds. The budget policy implemented through the system of budgetary mechanisms and should ensure budgetary equilibrium and effective impact on socio-economic processes. A budget is a powerful tool for influencing socio-economic processes, and it performs regulatory, stimulating, social functions that determine its economic purpose. The mechanism of the volume and structure of budget revenues and expenditures formation is an important part of the budget regulation for ensuring the comprehensive development of society.The authors analyzed and evaluated the consolidated budget of Ukraine for 2008-2017, determined the share of revenue and expenditure components in the structure of the gross domestic product and the consolidated budget of Ukraine. At the same time, the authors analyzed the share of major taxes in the revenues of the Consolidated Budget of Ukraine and evaluated their dynamics in the gross domestic product.The article examines the influence of the budget revenues formation for social and economic development. The budget revenues are the financial and economic basis for the relevant authority members budgeting and performance of functions and tasks of the public authorities.Budget expenditures are an important area of influence on economic and social processes. In the paper, the authors prove that the direction of public expenditures on population social security has a significant impact on the social and economic development of the country. In order to achieve the efficient allocation of budgetary resources in terms of their limitations, improving the quality of public services and the availability of budget for the society is important to use program-target budgeting method. At this stage of development, the important task is to determine priorities in allocating budget expenditures and increase their effective use. The mechanism for evaluating the effectiveness of budget expenditures requires further improvements involving central government, which form the financial policy.
Highlights
The mechanism for forming the volume and structure of budget revenues and expenditures is an important part of budget regulation for ensuring public welfare
Priorities of fiscal policy should be based on sound grounds in the system of a comprehensive program of social and economic development of the country
Indicators of the investment component of budget expenditures and tax burden characterize the possibilities of the regulatory potential of fiscal policy to stimulate high-tech sectors of the economy
Summary
It is advisable to analyze the share of main taxes in the revenues of the Consolidated Budget of Ukraine and assess their dynamics in GDP. During 2008—2017, the average share of the Value Added Tax in the revenues of the Consolidated Budget of Ukraine was 30.10 percent, in GDP — 9.57 percent. Value Added Tax share in revenue 30,92 30,99 27,44 32,64 31,16 28,98 30,49 share in GDP 9,71 9,26 7,97 9,99 9,84 8,82 8,87. Individual Income Tax share in revenue 15,41 16,30 16,22 15,10 15,29 16,31 16,49 share in GDP 4,84 4,87 4,71 4,62 4,83 4,96 4,80
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