THE ANALYSIS OF THE CURRENT FINANCE MANAGEMENT SYSTEM OF THE CUSTOMS UNION AND THE COMMON ECONOMIC SPACE

Abstract

The paper is concerned with the main tendencies in the development of modern processes of the international economic integration and regionalization. The factors stimulating and holding back the integration are analysed. The self-sustainable resource system in international economic integration associations is established based on international laws and regulations with account for national legal systems of the member states of such associations. In view of the Eurasian Economic Union formed between the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, Kyrgyz Republic and the Russian Federation and also granting the Eurasian Economic Commission (EAEC) the status of a supranational governing body, there arises an imperative need to establish a self-sustainable resource system within the Eurasian Economic Union based on positive and negative experience of already existing international economic unions and organizations similar to the EAEU. In this regard, studying the financial aspects of the process of formation and use of the budget of the integration associations already existing in CIS such as the Common Economic Space (CES), the Customs Union (CU) and the Eurasian Economic Community (EurAsEC) is a matter of great interest. The subject of the research: based on the case sudy of EurAsEC and the Customs Union (CU) the budget process stages are shown along with the organizational structure of a system for raising the EurAsEC and the CU budget resources as well as acceptance and performance of the EurAsEC, the CU and CES budgets. The purpose of the research: the study and the analysis of processes of formation and use of own resources (budget) of international economic associations and the organizations similar to the EAEC in tasks and goals. The research objectives: carrying out the complex analysis of the development and evolution of the processes of raising and using own resources (budget) of EurAsEC, CU and CES focusing on the following issues: - the budget system, principles of formation and budget adoption procedures; - sources and structure of raising own money, its impact on national budgets; - classification of budget incomes, expenses and the management system. The results of the research are supposed to be used for preparation of the analytical material on the development and evolution of processes of raising and using resources (budget) of integration associations similar to EAEU in the tasks and goals, organizational and operation principles.