The concept of "budget execution" as a stage of the budget process and definition of its principles

Abstract

The article is devoted to the study of the concept of "budget execution” as a stage of the budget process, taking into account the fact that lack of clarity in terminology and ambiguity in defining the key principles of budget execution create obstacles for qualitative analysis and effective management of the state's financial resources. Most of all, the importance of budget implementation lies in its role in providing financing for various areas of the economy, social programs and the development of the state as a whole. However, the lack of a clear definition of this concept and the uncertainty of its key principles create complications for the correct distribution and effective use of budget resources. Therefore, the study of the problem of defining the concept of "budget execution” involves the analysis of theoretical aspects of this process. Determining the basic principles of budget execution is critical to solving this problem, as it forms the basis for developing effective strategies for managing financial resources. It was found that the main task at the stage of budget execution is to ensure the full and timely receipt of taxes and other mandatory payments, as well as the financing of activities within the limits defined by the budget act. During the implementation of the budget, the bodies of representative and executive power at all levels, as well as local self-government bodies, make adjustments to the budget allocations that arise from changes in the exchange rate and uneven revenues to the budget. In addition, the goal of budget execution is to achieve compliance between actual budget receipts, expenditures from it, and budget- legal norms that establish the sources and volume of these revenues, as well as the directions and volumes of expenditures. Thus, the problem of defining the concept of "budget execution” and establishing its basic principles requires attention for further improvement of the budget process and effective use of financial resources. Ultimately, the article aims to systematize and clarify the terminology related to budget execution, as well as to reveal the key aspects of this stage of the budget process with an emphasis on those aspects that determine the efficiency and effectiveness of this process.