Budget planning with the development of the budget process in Ukraine
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DOIhttp://dx.doi.org/10.21511/ppm.18(2).2020.21
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Article InfoVolume 18 2020, Issue #2, pp. 246-260
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The transition to future-oriented medium-term budget planning has been an important innovation in the budget process of Ukraine. Since then, the main budget indicators are calculated for the next three years with a forecast that allows for systemic reforms in several areas. This paper aims to identify problems of implementing budget planning for generating an envisaged and balanced budget in conjunction with the priorities of the state. The current status of budget planning and budget performance is analyzed by reviewing budget legislation, budget reporting, information-analytical and presentation data of state authorities and local governments, the experience of developed countries that have achieved some success in medium-term budget planning in terms of income and spending. The paper also reveals the features and advantages of medium-term budget planning based on the result; explores the approaches to transparent, effective, and high-quality use of budget funds with a limited potential of the state to increase tax revenues. The implementation of budget planning is due to the need for further development of the budget process in Ukraine towards increasing predictability, transparency, stabilizing the budget in the medium term, and solving important problems of efficient and high-quality use of budget funds for economic and social recovery.
- Keywords
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JEL Classification (Paper profile tab)H50, H60, I00
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References36
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Tables1
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Figures6
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- Figure 1. Execution of revenue and expenditure parts of budgets, %
- Figure 2. The share of budget deficit (-) and surplus (+) in GDP, %
- Figure 3. The number and the amounts of warnings for managers and recipients of state and local budgets, identified by the State Treasury Service of Ukraine
- Figure 4. Number of warnings from the State Treasury Service of Ukraine’s bodies to managers and recipients of state and local budgets about improper fulfillment of budget legislation, number of cases
- Figure 5. Stakeholders in improving the efficiency and effectiveness of the use of budget funds
- Figure 6. The amount of the State Budget of Ukraine’s expenditures influenced by tax revenues and the largest expenditure items of the general budget fund, UAH bn
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- Table 1. The list of alternative areas of budget financing and expected results of the efficient use of budget funds
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