Makohon V. Budget strategy for the social and economic development of the country

The essence of the budget strategy for the social and economic development of the country is presented, it aims to ensure macroeconomic stability, accelerate economic growth, and develop human potential. The provision on the budget strategy institutionalization is justified. It involves identifying approaches, principles, directions, tasks relating to the formation and implementation of budget policy as a set of budget methods, tools, instruments for financial provision of social and economic development, budgetary efficiency mechanism to reflect changes caused by globalization and the transformation of the institutional component of budget space. The experience of developed and transformed economies in developing and implementing a budget strategy was summarized and systematized. The essence of budget architectonics as a tool of financial and budgetary regulation was determined. It consists of the formation of budgets of all levels on the basis of budget optimal ratios, tax, social, monetary and public debt components. Institutional foundations of a budget strategy have been developed based on the need to adapt the aggregate budgetary control mechanisms of the terms of financial and economic environment and cyclical economic processes. The approaches to the budget policy formation and implementation in the area of incomes, expenditures, budget deficit, public debt, intergovernmental budgetary relations in connection with the transformations of social and economic processes were improved. The methodological principles of budget strategy formation were improved on the basis of determining the principles, the system of indicators, criteria of stability and balance of the budgetary system taking into account the cyclical economic development. These found further development: dominant approaches to budget policy in conjunction with the economy globalization intensification; provisions for areas of improvement prospective budget planning; approaches to developing budgetary relations, evaluating the efficiency of budget programs, systems of medium-term budget planning, improving the quality of public financial control and audit; provisions on the priorities of the budget strategy in terms of economic transformation.