Formulation and implementation of budget policy in countries with a developed and transformational economy

Abstract

Relevance of the research topic. The development of social relations dictates the need for the formation and implementation of budget policy at a qualitatively new level, in particular by summarizing and systematizing the leading experience of a country with a developed and transformational economy. Problem setting. Important tasks in today's conditions are: increasing the effectiveness of the budget policy toolkit, ensuring budget stability and balance; optimization of the structure of income and expenditure parts of budgets at different levels. Analysis of recent research and publications. The problems of the formation and implementation of budget policy in countries with developed and transformational economies are quite widespread in scientific studies: J. Keynes, P. Samuelson, S. Blankart, T. Kanevoi, L. Lysiak, I. Lukyanenko,  A. Mazaraki, V. Makogon, M. Pasichny, V. Fedosova, I. Chugunova and others. Isolation of unexplored parts of the general problem. The above-mentioned issues became relevant in connection with the deterioration of the trend of economic development both in countries with transformational and developed economies, which actualizes the issue of solving a number of specific tasks of the formation and implementation of budget policy. Setting the task, the goal of the research. The tasks of the research are: to reveal the essence of budget policy, its role in regulating socio-economic processes; study of the peculiarities of the formation of budget indicators at this stage of the development of social relations. The purpose of the study is to determine the priority areas of budget policy in countries with developed and transformational economies. Method or methodology of research. The article uses a set of scientific research methods: system approach, structuring, synthesis, etc. Presentation of the main material (results of work). The essence of budget policy, its role in regulating socio-economic processes is revealed. Peculiarities of the formation of budget indicators at this stage of the development of social relations have been studied. The priority areas of budget policy in countries with developed and transformational economies have been identified. Field of application of results. The results of the study can be used in the process of formation and implementation of budget policy. Conclusions according to the article. The validity of the formation and implementation of the budget policy is an important condition for the development of social relations. In modern conditions, it is necessary to understand the multifaceted nature of the issues of ensuring budgetary stability and balance. Important tasks are to raise the quality level of budget policy based on the generalization and systematization of the leading experience of countries with developed and transformational economies in this field.