Hrebenyk K. Budget system as a tool of state regulation of the economy

Revealed the basic principles of the budget system as a component of state regulation of the economy, which are the validity, unity, subsidiarity of state and local budgets based on financial, economic and institutional regulation, taking into account the provisions of adaptive architecture of budget revenues and expenditures. inter-budgetary relations and medium-term budget planning and forecasting, which ensures the socio-economic development of the country, contributes to raising the level of social living standards. Improved provisions on budget policy as a set of adaptive targeted areas and measures of the state, based on institutional financial principles, aimed at rational budgeting, efficient use of budget funds to ensure economic growth, a sufficient level of social security; approaches to increase the effectiveness of budget policy, taking into account the institutional support consistent with the priority areas of economic and social development of the country, which will ensure the appropriate ratio of key indicators of public finance and social development; provisions for strengthening the efficiency of budget revenues and expenditures in the economic development of the country, which will contribute to the effectiveness of fiscal policy, the achievement of socio-economic goals. The following were further developed: generalization and systematization of the principles of functioning of budget systems in countries with developed and transformational economies, which will provide an opportunity to increase the stability of the domestic budget system in conditions of economic transformation; approaches to the use of adaptive budget planning in the system of financial and economic forecasting, which will provide an opportunity to increase the stability and balance of fiscal policy of economic growth; provisions to increase the effectiveness of the budget system, the efficiency of budget expenditures, long-term budget planning and forecasting, which will enhance the effectiveness of economic transformations.