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BUDGET AS A TOOL FOR ECONOMIC GROWTH

Journal: University Economic Bulletin. Collection of scientific articles of scientists and post-graduate students (Vol.1, No. 28)

Publication Date:

Authors : ;

Page : 203-208

Keywords : budget; budget system; fiscal policy; budget management; budget mechanism;

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Abstract

The subject of research is theoretical and practical issues of budgeting as a tool for economic growth in the management of public finances. The aim of the study is to outline the role of the budget in the economic growth. Methods. The paper applied a set of scientific methods and approaches, including systemic, structural, comparative, factorial methods, allowing to implement conceptual integrity of the study. The results. The article reveals the essence of the budget as a tool for economic growth and its functions. The problems and ways to improve the budget. Range of application results. The system of financial regulation, fiscal policy, budget system. Range of application results. The system of financial regulation, fiscal policy, budgetary system. Conclusions. The budget is actively used by the state for economic management. It plays a significant role in enhancing the concentration of funds to key areas of socio-economic development, improving sectoral and territorial structure of the economy, accelerating intensification of production according to the level of society. In this budget in all forms of its manifestation and use serves as a tool for economic growth and provides integrated influence on social production and as a financial instrument and as an economic lever, and as an incentive. Strong financial position - the result of systematic work to ensure a balanced budget, the realism of his figures. Resistance budget increased through the use of qualitative economic forecasts and assumptions underlying the budget planning. This important annual assessment and inventory of existing spending commitments. Value of the effectiveness and efficiency of budget funds should be characterized by the achievement of economic and social impact with minimal amounts of budget funds. This optimization of the budget should not affect the quality and level of public services. The budget expenditures must be focused on creating conditions for the development and modernization of economy, efficiency of government, implementation of the strategic objectives of economic growth in the country, which will enable to increase the level and quality of life. Improving quality of budgeting as a tool for economic growth depends on the level of comprehension of its essence, assess the factors that determine the formation of theoretical justification necessary changes depending on budget architectonics cycling socio-economic processes. However, the effectiveness of the budget as a tool for economic growth characterized by its adaptive capacity to the processes of socio-economic development of society and resistance to negative impacts of external economic conditions. The formation of a balanced, sustainable budget in modern terms transformations contribute to macroeconomic stability, in particular through the development and implementation of a coordinated, prudential fiscal policy.

Last modified: 2016-07-21 09:21:36