Сurrent tendencies of the development and consequences of the transformation of the budget system of ukraine in the context of public finance management reform

Анотація

Introduction. For solving problems connected with slowing down of economic growth and declining of social welfare level, it is advisable to develop and implement state measures based on the concept of inclusive sustainable growth and forsee building an effective system of public financial management. This stipulates the necessity of improvement of budget policy, the principles of functioning of state and local budgets, inter-budgetary relations and requires detailed monitoring of the consequences of the transformation of the budget system as a result of administrative and territorial reforms and decentralization reforms.Methods. Such general and special methods as analysis and synthesis, comparison, generalization, associations, analogies and others have been used in the study. The purpose is to assess the impact of transformation processes on the functioning of state and local budgets, identifying problems and outlining prospects for improving the budget system in the context of continuation of reformation of the public financial management system.Conclusions. As a result of assessing the consequences of administrative and territorial reform and decentralization reform on functioning of the budget system, it has been found that most reform measures are aimed at improving the quality and accessibility of public services. Given the feasibility of raising the efficiency of the public financial management system, the need in the following has been proved: to develop a budget policy strategy that would take into account the key objectives of inclusive sustainable development; introduction of strategic and medium-term budget planning; improvement of program and target budgeting; increasing the financial capacity of territorial communities; development of gender-oriented and participatory budgeting; increasing the level of transparency of public finance management.Discussion lie in finding the ways of improving the functioning of the budget system in the context of continuation of reformation of the public financial management system.

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