THE IMPACT OF TAX AND BUDGET POLICY ON THE LEVEL OF ECONOMIC GROWTH

The aforementioned issues are updated due to the increasing globalization processes, the unfavorable external and internal economic environment, which requires a number of specific tasks related to the development of fiscal policy. Goal setting, research goals. The objectives of the study are: to reveal the nature and role of fiscal policy in ensuring economic growth, to substantiate the features of fiscal policy in the current conditions of development of the public finance system; to analyze and evaluate the consolidated budget revenues and expenditures; identify the main factors that influence the peculiarities of fiscal policy implementation; to open up provisions for improving the efficiency of the fiscal policy regulatory mechanism. The purpose of the study is to substantiate the priorities of fiscal policy of economic growth in the context of institutional transformation. Research method or methodology. The set of methods of scientific research is applied in the article: systematic approach, statistical analysis, structuring, analysis, synthesis, etc. Basic material presentation (results of work). The essence and role of fiscal policy in ensuring the economic growth of the country are determined. The consolidated budget revenues and expenditures have been analyzed and estimated. The priorities of fiscal policy of economic growth in the context of institutional transformations are substantiated. Area of application of results. The results of this study can be applied in the process of forming and implementing fiscal policy of Ukraine, reforming the public finance system. Conclusions according to article. Fiscal policy is a dynamic system of goals, directions and tasks of public authorities and local self-government aimed at ensuring the stability, stability and balance of the budget system, further improving the institutional environment of budgetary relations, taking into account the cyclical and dynamic economic processes. Developing an effective fiscal policy involves developing a structural and functional model of fiscal policy that is based on the integration of institutional components of the budgetary space. Assessment of the impact of fiscal policy on economic growth should include a detailed analysis of the architecture of budgetary indicators, as well as an assessment of possible risks. In modern conditions of development of social relations the important tasks of fiscal policy are: optimization of the level of tax burden; improvement of the architectonics of budget expenditures (a significant share of budget expenditures goes to consumption); improving the architecture of budget revenues, in particular by changing the relationship between indirect and direct taxes; raising the level of the regulatory function of fiscal policy, in particular by supporting the development of major sectors of the economy. The article identifies strategic priorities of fiscal policy of economic growth in the context of institutional transformations.