ASSESSMENT OF BUDGET RISK MANAGEMENT IN STATE AUTHORITIES OF UKRAINE IN THE CONTEXT OF WAR

Анотація

The article examines the theoretical and methodological foundations of assessing budget risk management in the public sector of Ukraine in wartime. It analyzes the specific risks of the budget process that arise as a result of uncertainty and challenges faced by budget administrators and that affect their performance. The main elements of the budget risk management system are identified. It is substantiated that the management of risks in the budget process is a strategic component of the management activities of authorized persons, represented by heads of state authorities, the implementation of which ensures the effective and efficient use of state financial resources and the achievement of the state's strategic goals. It has been proven that effective budget risk management requires its implementation at all stages of the budget process, considering the specifics of the activities of state authorities. National legislation does not enshrine the concept of “budget risk management,” but it does define the process of fiscal risk management, which consists of sequential stages of risk identification, assessment, monitoring, and development of measures to minimize them. According to the author, fiscal risks represent a broader spectrum of uncertainties and risks that can affect the overall state of public finances due to an inefficiently organized budget process. In turn, budget process risks are a narrower category and affect the activities of budget administrators throughout the budget process cycle in terms of improper organization of budget implementation procedures and mechanisms. Thus, under martial law, it becomes particularly important to conduct a systematic assessment of the risks of the budgetary process as a key element of budgetary risk management and to ensure the financial stability of public sector entities. The introduction of effective budget risk management contributes to improving the soundness of management decisions, strengthening the financial stability of state bodies, and ensuring the transparency and accountability of budgetary activities. In view of the above, there is a need for further research aimed at studying budget risk management, as well as the impact of budget process risks on the activities of public sector entities in order to ensure the sustainability of public finances.

Класифікація

Ідентифікатори

Схожі роботи