Legal regulation of the budget process in the EU

Abstract

The experience of the most influential interstate formation in Europe – the European Union, which occupies the second place in terms of GDP and the third in terms of population. is instructive in all its spheres of functioning, in particular in the field of budget law. Given the accelerated movement of Ukraine to the European community, the «budget experience» of the European Union is certainly the most indicative and instructive, since it was formed on the basis of a generalization of best practices of all member countries of the European continent. The article deals with a set of the main EU budget regulations: the Treaty on the Functioning of the European Union; Treaty on European Union; EU financial regulations; Regulation of the European Parliament and of the Council (EU, EURATOM) 2018/1046 of 18 July 2018 on financial rules applicable to the general budget of the Union on amendments to the regulations (EU) № 1296/2013, (EU) № 1301/2013, (EU) № 1303/2013, (EU) № 1304/2013, (EC) № 1309/2013, (EC) № 1316/2013, (EC) № 223/2014, (EC) № 283/2014 and Decision № 541/2014/ЄS and repealing Regulation (EU, Euratom) № 966/2012. On the basis of a detailed analysis of these documents, the fundamental positions of the EU budget process in general and the principles of the EU budget in particular are ordered, structured and described (they include the principles: unity, reliability of the budget, annuity, balance, unit of account, universality, detail, prudent financial management and productivity, transparency). Proposals for the implementation of the principles of the EU budget to the domestic budget law are carried out.