DEVELOPMENT OF PARTICIPATORY BUDGETING MECHANISMS AS A TOOL FOR BUILDING PUBLIC CONFIDENCE IN THE AUTHORITIES

The article analyzes the possibility of using the mechanism of participatory budgeting through an assessment of the public's readiness to participate in these practices. The research focuses on the population’s trust assessment regarding the activities of government bodies as a predictor of the evolving of their readiness to co-finance projects of participatory budgeting. The leading research method is a questionnaire survey of the population. The results illustrate a rather low interest of the public in participation in the practices of the participatory budgeting. The respondents recognize the relevance of resorting to the mechanism of co-financing only if it affects their individual interests. The results indicate a low level of confidence in the authorities when it comes to the budget spending, meanwhile the insufficient resource of credibility limits the residents' willingness to invest money in the development of the territory. The research finds that the lack of public confidence that the local government acts in the interests of residents and supports local initiatives will reduce public willingness to participate in the implementation of co-financing projects. In addition, the low level of citizens' awareness of the practices of participatory budgeting aggravates the situation and reduces the level of satisfaction with the effectiveness of the implementation of control and budgetary functions.