IDEAS home Printed from https://ideas.repec.org/a/aff/colart/y2020i47p169-176.html
   My bibliography  Save this article

Directions of budgetary policy adaptation to socio-economic processes under the transformation conditions

Author

Listed:
  • Valentyna Makohon

    (Kyiv National University of Trade and Economics)

  • Iryna Adamenko

    (Kyiv National University of Trade and Economics)

Abstract

Relevance of the research topic. In the conditions of transformations, the budget policy is the most crucial government economic lever of influence on social and economic processes. The main reasons that hinder the effective implementation of fiscal policy are the political risks associated with finding ways to optimize it. Accordingly, risk assessment is a necessary condition for timely decision-making and ensuring macroeconomic stability, long-term balance, and stability of the budget system. Formulation of the problem. Based on the peculiarities of socio-economic development, important tasks in the conditions of transformations are substantiation of directions of budget policy, optimization of budget revenues and expenditures architecture. At the same time, the choice of budget tools should be made, taking into account the level of economic growth of the country. Analysis of recent research and publications. Problems of formation and implementation of budget policy, its adaptation to socio-economic processes are quite common in research. These are the works of well-known domestic and foreign scientists: J. Keynes, P. Samuelson, J. Stiglitz, V. Tanzi, O. Vasilika, I. Zapatrina, S. Kucherenko, L. Lysyak, L. Levaieva, І. Luk’yanenko, M. Pasichnyi, A. Sokolovsko, I. Chugunov, and others. Highlighting unexplored parts of a common problem. The above issues are relevant in connection with the deepening of transformation processes, the adverse impact of the COVID-19 pandemic on the budget balance, which requires several specific tasks related to the formation and implementation of fiscal policy. Goal setting, research goals. The objectives of the study are: to reveal the essence and relationship of budget policy with socio-economic processes. Also, to justify the peculiarities of the budget revenues and expenditures formation at the current stage of the budget system development. The purpose of the study is to reveal the directions of adaptation of budget policy to socio-economic processes in the conditions of transformational transformations. Research method or methodology. The set of methods of scientific research is applied in the article: a systematic approach, statistical analysis, structuring, analysis, synthesis, etc. Basic material presentation (results of work). The essence and interrelation of budget policy with socio-economic processes are revealed, the peculiarities of budget revenues and expenditures formation are substantiated. The directions of adaptation of budgetary policy to social and economic processes in the conditions of transformational transformations are substantiated. Area of application of results. The results of the study can be used in the process of forming and implementing the budgetary policy of Ukraine, reforming the public finance system. Conclusions according to article. The qualitative level of formation and implementation of budget policy is determined by the system of financial institutions, the state of their development in a particular country aimed at ensuring economic growth and welfare of citizens. An essential condition for the dynamic growth of the domestic economy is a comprehensive solution to social and economic problems by ensuring the balanced development of the economy and the social sphere, strengthening decentralization processes.

Suggested Citation

  • Valentyna Makohon & Iryna Adamenko, 2020. "Directions of budgetary policy adaptation to socio-economic processes under the transformation conditions," University Economic Bulletin, Hryhorii Skovoroda University in Pereiaslav, Faculty of Financial, Economic and Vocational Education, issue 47, pages 169-176, December.
  • Handle: RePEc:aff:colart:y:2020:i:47:p:169-176
    DOI: https://doi.org/10.31470/2306-546X-2020-47-169-176
    as

    Download full text from publisher

    File URL: https://economic-bulletin.com/index.php/journal/article/view/729/740
    Download Restriction: no

    File URL: https://libkey.io/https://doi.org/10.31470/2306-546X-2020-47-169-176?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aff:colart:y:2020:i:47:p:169-176. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Svitlana Kucherenko (email available below). General contact details of provider: https://edirc.repec.org/data/ffphdua.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.