Regional budget policy: conceptual dominants and vectors of development

Abstract

The paper is devoted to the implementation of regional budget policy in Ukraine. The main vectors of budget policy development as a component of socio-economic policy at the local level are highlighted. Within the framework of the declared budget policy, the peculiarities of the formation and functioning of local (regional) budgets are considered. The interpretation of the definitions of "budget" and "policy" is presented, and the author's definition of the essence of the budget policy of the region is offered. The conceptual dominants of budget policy, the implementation of which takes place through the budget mechanism, are studied. It is proved that budget policy is an important lever of influence and a real reflection of the tactics and strategy of public authorities and local governments in the budget sphere. It is substantiated that the effectiveness of the implementation of regional budget policy directly depends on the sequence of steps aimed at increasing the level of competitiveness of the regions and overcoming the existing regional disparities. On the basis of generalization of thematic researches and practice the offers concerning application of levers of budgetary regulation which define a level of efficiency of budgetary policy of region are formulated. It is stated that the content of the budget policy of the region should be to determine the course, tasks and activities of the state and local governments in the field of formation and use of budget funds. Full implementation of the budget policy of the region stimulates the functioning of economic activity of administrative-territorial units, promotes rational budget planning, as well as the effective filling, distribution and use of local financial resources.