Financial Support of the Social Functions of the State: the Condition, Trends and Directions of Optimization
Journal Title: Проблеми економіки - Year 2014, Vol 2014, Issue 3
Abstract
The purpose of the article is to identify trends in the budgetary policy of the government for the financing of its social functions and identify areas to optimize budget expenditures with available macroeconomic and institutional factors of influence. Analyzing the structure of expenditures of the consolidated budget of Ukraine for the functional classification, in comparison with budget burden in the European Union, it has been proven that the transformation of the public sector in this country are in line with European trends and contribute to filling the new content of the concept "welfare state." The study revealed that in increasingly adverse trends in socio-economic development of the country comes the growth of budget expenditures for the implementation of the social functions of the state. The reserves of decline in social spending due to the introduction of compulsory state social insurance for the self-determination of the citizens of the maximum level of funding for public services was identified, which will in the long run reduce the fiscal stress in Ukraine and at the same time enhance the effectiveness of state institutions. The prospect of further research in this direction is the proof of the necessity of legislative consolidation of procedures for the development of the budget strategy as a tool to balance the budget in terms of adverse long-term trends that will allow the government to carry out more effective correction of volumes of public goods and services, taking into account the possible demographic shifts and other changes in the economy.
Authors and Affiliations
Tetiana Koliada
Keywords
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