Pasichniy M. Budget deficit as a component of the system of budget regulation

The economic essence of the budget deficit as component of the budget regulation system is revealed. Management mechanism of budget deficit, based on determining the optimal size and structure of the sources of financing the budget deficit, estimation of budget programs, taking into account cyclical economic development, public finances is suggested. The feature of formation the national regulation system of budget deficit is discovered. Generalized and systematized experience of budget deficit management in the countries with developed and transitional economies, developed the methodological foundations of budget deficit management for the medium term taking into economic growth. Improved approaches to defining the role of budget deficits in the system of budget regulation, determinations on impact assessment instruments of regulation of the budget deficit on economic growth, justification of institutional changes in the budget system, introducing a mechanism using of the budget deficit.