Ensuring Openness And Transparency Of Public Finance, Expanding Public Participation Practice

Анотація

Urgency of the research. In conditions of structural reforms and crisis phenomena in the Ukrainian <br> economy, public finances, which are the basis of structural changes, are of great importance. Their <br> transparency and openness allow the effective using of financial resources. <br> Articulation of the problem. Public finance plays an important role in the transformation of the <br> national economy; the participation of the society in their formation and use positively affects financial <br> stability and overcoming imbalances. <br> Analysis of recent researches and publications. Ukrainian and foreign scholars E. Bauman, <br> U. Buffett, T. Bogolib, Z. Varnaliy, S. Witte, G. Ehlers, O. Kirilenko, I. Liutyi, G. Soros who have been actively <br> investigating the problem of openness and transparency of public finances in recent years. At the same time <br> there is no comprehensive study of the society participation in the formation of public finance. <br> Singling out unstudied parts of a common problem. In our study, we can single out a number of <br> unstudied parts of the problems: the problem of financial imbalances, the problem of the budget <br> openness, the problem of public participation in the formation of finance openness and transparency, <br> the problem of the public budget. <br> Research objective. To analyse the theoretical and methodological aspects of public finance, show <br> the importance of public finances openness and transparency, disclose the value of an open budget to <br> ensure macroeconomic stability in the real sector of the economy. <br> Statement of basic materials. The article investigates, systematizes and analyses the scientific <br> works of Ukrainian and foreign scientists devoted to the openness and transparency of public finances, <br> and the extension of the public participation practice. The issues of formation of the public budget are <br> considered, and the necessity of introducing the «Open Budget» as an integrated approach to the <br> practice of increasing public participation in the budget process is substantiated. <br> Conclusions. We believe that in order to improve the budgetary process, it is necessary to approve <br> a unified technology of «social diagnostics» to identify the needs of older citizens in providing social <br> support measures that ensure the correctness, transparency, objectivity of decisions, establish social <br> requirements that increase the coefficients for budgetary allocations distributions for certain categories <br> of Ukrainian territories (depressed territories). <br> Thus, first of all, we wanted to provide a study that will allow us to create a budget map, since all <br> materials confirm the need to use the best practices for the effectiveness of budget expenditures, to <br> solve complex problems of the Ukrainian economy. <br> It is very important for the authorities of all levels to stimulate the growth of effectiveness of public <br> finance management, to monitor the documents of strategic and budgetary planning, and to formulate <br> a rating of the regions’ effectiveness.

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