METHODOLOGICAL APPROACH TO THE EVALUATION OF THE COUNTRY’S BUDGET SECURITY
Journal Title: Проблеми системного підходу в економіці - Year 2017, Vol 2, Issue 58
Abstract
It is emphasized that the modern realities require improving the methodological approach of assessment of budget security of the state and forming an effective budget policy from the standpoint of safety. The dynamics and current trends of fiscal security indicators are analyzed. Level of integrated indicator of Ukraine’s budget security of is in the area of critical state due to objective and current trends of the national economy. Interaction of public sector with fiscal component, money and debt market is proven. It causes possible extent of threats and requires a coordinated budget and monetary policy and prospects of their coordinated effects on development. So direct interaction and coordination of the abovementioned areas is demonstrated clearly in the process of drafting the state budget for each next year based on forecast macroeconomic indicator, including produce indexes of consumer and wholesale prices, nominal exchange rate of hryvna, the structure and level of government expenditure. The methodical approach to determine the level of budget security of the state on the basis of accumulated threats and processes of financial globalization is developed. The necessity of improvement the study methodology as one of the basics of cognitive activity and the need to build safety-oriented economy is proven. To ensure economic stability, it is offered to include indicators that describe the impact of globalization, namely compliance of Ukraine with the level of developed countries, the level of corruption, tax burden, inflation index, the level of hidden economy, share of income in GDP, the outflow of capital abroad. At the same time, to reduce indebtedness of Ukraine it is offered to consider indicator of budget settlement the government debt. Given the fact that the budget security provides for an appropriate potential in the state budget system to ensure financial stability and safe functioning it is offered to consider important indicator that describes the size of the state budget - the share of state budget revenues relative to GDP.
Authors and Affiliations
S. V. Onyshchenko
Keywords
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