The economic essence of fiscal policy formation in the conditions of economic transformation as an integral part of the system of state financial provision of socio-economic development of the country is revealed, which is to combine the components of the adaptive financial and budgetary architecture of the revenue part of the budget, the tax burden, the expenditure part of the budget, the intergovernmental fiscal relations, the budget deficit, debt taking into account the cyclicality of the economy, changes in the economic environment, the efficiency of using budget funds, the effectiveness of states financial control, which will provide an opportunity to improve the quality level of budget planning and forecasting, including at the level of the main spending units, the dynamic balance of the budget system, the effectiveness of the budget mechanism of economic growth, strengthen the relationship between the main functions, the objectives of the budget process, budget assignments and priorities of the public development.
The further development of the provision for planning budget expenditures, the state financial provision of human potential, increasing the efficiency of the public procurement system, and the state financial audit of budget programs has been further developed, which will make it possible to increase the impact of the budget mechanism on economic growth; approaches to the definition of the priority directions of the budget policy taking into account the dynamics of macroeconomic indicators, stability of the budget system, which will contribute to ensuring the achievement of socio-economic development of the country. Summarized and systematized the experience of the formation and implementation of fiscal policy in developed and transformational economies, including the main principles of income and expenditure planning, budget deficit, public debt management, which will enable, taking into account this experience, to increase the level of responsibility of participants in the budget process, the efficiency of functioning budget system.
Approaches to the development of the budget mechanism of a reproductive, stimulating direction for economic growth, taking into account the institutional components of financial and budgetary and socio-economic relations, are improved; the basic principles of forming a qualitative level of performance indicators of budget programs in order to establish the degree of achievement of planned indicators, the system of medium-term budget planning, which will increase the interrelation between the used budget funds and the results obtained; provisions on the development of budget relations, based on the principles of adaptation of the budget system to the processes of social development.
