Vatulev A. Financial policy in the conditions of economy transformation

The economic essence of financial policy as a compound of institutional development of economy is uncovered. The structural and functional model of system of financial regulation is offered. Approaches to definition of the priority directions of financial policy in respect to goals and tasks of social and economic development of the state are developed, experience of formation and realization of financial policy in the countries with advanced and transformational economy are generalized and systematized. Expediency of institutional changes of financial policy is proved considering extent of development financial and economic relations, structural features of budgetary, tax, monetary and credit system, recurrence of economy. Regulation on forming consolidated budget revenues in the conditions of transformational economy has been alaborated. Methodological approaches of perspective budgetary forecasting with use of dynamics of tax revenues, implementation of expenditures, budget financing on the basis of the forecast social and economic development of the country are improved. The mechanism of forming and realization of the budgetary policy on medium-term prospect in the sphere of budget expenditures has been enhanced.