FEATURES OF MODERN PROCESSES OF FORMATION AND IMPLEMENTATION OF THE BUDGET POLICY OF SOCIO-ECONOMIC DEVELOPMENT OF THE TERRITORY
The article substantiates and confirms that the budget policy of socio-economic development is an independent system designed to promote the achievement of the strategic and tactical goals of each territory. This means that its formation should take place in compliance with national standards, while regional interests should be taken into account; otherwise, the excessive dependence of local budgets on the «center» will lead to the loss of prospects for the development of territories. The author believes that local self-government bodies should acquire the status of real owners of the territory, which have all necessary powers and financial and economic resources that will allow themselves to solve local problems and effectively carry out all delegated functions of the state in order to ensure socio-economic stability and qualitative development of territories. Local authorities should get the position of real actors subject to the implementation of democratic principles at all levels of government, in addition, it is necessary to continuously improve the mechanism of fiscal decentralization in the context of European integration and globalization.
The results of the research prove that a scientifically grounded approach to the formation of regional budget policy will allow us to use a rational use of a set of interacting mechanisms of development of human potential, modernization of the economy, sustainable socio-economic development, environmental safety, and also an innovative mechanism in order to provide a higher standard of living for the population.
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Keywords: budget policy, local (regional) budget, budgetary mechanism, bodies of local self-government |
MACROECONOMICS
Zhuk Inna
PhD, Associate professor
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