The Budget Mechanism for the Socio-Economic Development of Country

• Main Author: Gavrilova Lidia V.
• Format: Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 2017-11-01
• Series: Bìznes Inform
• Subjects: budget; budget policy; budget expenditure; budget mechanism; socio-economic development of country
• Online Access: http://www.business-inform.net/export_pdf/business-inform-2017-11_0-pages-341_345.pdf

The article is aimed at studying the relationships between the efficiency of the budget policy and the socio-economic development of country, assessment of the implementation of expenditures of the consolidated budget of Ukraine for financing certain programs of social development. It has been found that economic growth is possible due to the development of both the real sector of the economy and the budgetary support of projects in the sphere of health, education and culture. An important criterion for the success of the budget policy is also the level of accessibility of the public services contributing to the productive economic activity. A systemic instrument for implementation of budget policy is the program-target method, which allows to assess achievements of concrete results at all stages of budget process. It is based on the budget programs, which represent a complex of interrelated tasks and activities aimed at solving the most important problems of development of the State, individual branches of economy, and administrative-territorial units.