FORMATION OF THE BUDGET OF UKRAINIAN SSR AS A PART OF THE BUDGET SYSTEM OF THE SOVIET UNION

Background. The offered scientific work is devoted to question of formation and development of the budget of Ukrainian SSR as a part of the budget system of Soviet Union, determination of budget adjustment features in the sphere of revenues, expenditures, budget deficit (surplus), and inter-budget relations. The review of scientific sources on chosen subject allowed to define that budget policy is the effective instrument for regulation of social and economic development of society. However, continuous improvement of institutional bases formation of fiscal policy proceeding from features of development financial and economic system, recurrence of economy and retrospective experience of budget formation is important. It forms a research purpose. Results of research. Significant aspect of the analysis carried out in work is publicizing of process of formation and development of the budget mechanism of regulation of social and economic development of Ukrainian SSR as a part of budget system of Soviet Union, determination of features of formation and realization of budget policy of the country in the twentieth century. Analysis of planning budget revenues and expenditures, budget deficit (surplus), inter-budget relations has been carried out. It is defined that during the period of formation and development of budget system of Soviet Union taxes as instrument of financial regulation social and economic development had rather ambiguous character. At stage of formation of Soviet power taxes were the instrument of restriction and replacement of capitalist forms of ownership. Later taxes were reoriented ? they were more used as the instrument of ensuring stable revenues in the state budget, a form of redistribution of national wealth and savings taking into account public interests. Budget expenditures on a national economy and the welfare purposes prevailed. Minimization of budget deficit was one of priority directions of budget policy of federal republics and Soviet Union at the initial stage of formation of budget system, and since 1930th years the state budget of Ukrainian SSR was annually carried out with surplus which was considered as an indicator of stability of budget and financial system of the country. Conclusions. The conducted research, according to authors, will deepen understanding of the essence of budget regulation of social and economic development of the country, will allow to raise level of validity formation of state and local budgets, to strengthen effectiveness of the budget as one of powerful instruments of economic growth.