BUDGET AS A TOOL FOR SOCIAL AND ECONOMIC DEVELOPMENT COUNTRIES

The subject of research is theoretical and practical aspects of the budget as a tool for socio-economic development. The aim of the nature and role of the budget in the social and economic development, the definition of the institutional approach in the formulation and implementation of fiscal policy, according to changes in the social environment. Research methods. The paper used a set of scientific methods and approaches, including systemic, structural, comparative, factorial methods that allowed to realize conceptual integrity of the study. The results of the work.. The essence and role of the budget as a tool for socio-economic development. The main directions of improving the efficiency of fiscal policy in terms of institutional reforms. . The necessity of increasing the quality of budget planning and forecasting based on program-target method of budgeting that will strengthen the positive impact of fiscal policy on social development and economic growth as a prerequisite for raising the living standards and welfare. Range of application performance. Management of public finances. Budget planning in the system of financial and economic relations. Conclusions. In order to enhance the impact of the budget system for the social and economic development of society need to take measures to improve balance and budget transparency, effectiveness of budget spending, improve intergovernmental relations, ensure quality execution of budgets of all levels, the implementation of effective financial control. Thus fiscal policy as a tool of state regulation of social development is a combination of financial relations, institutional support for the formation and use of budget funds aimed at achieving economic and financial balance, the impact of economic reforms.