CONSOLIDATED BUDGET AS A SOCIAL DEVELOPMENT TOOL

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.