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Budget Safety as the Level of Budgetary Potential of the State

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Abstract:

Budget safety, as a component of financial security, depends on the results of the implementation of an effective state financial and economic policy as the basis for the achievement of national interests. Effective using of the budget, namely, effective management of the state's cash flows, should ensure the regulation of economic and social processes in the interests of society, and create stable conditions for economic development of the country. Budget policy is an integral part of the state's financial policy and as one of the driving forces of Ukraine's development implies further stabilization of public finances, ensuring economic growth and raising standards of living for the maintenance of balanced development of the state. In today's conditions of development, the state faces the task of ensuring the balance and stability of the state budget against adverse external influences, establishing effective management of the country's cash flows, establishing effective budget and monetary policy, as well as long-term fiscal sustainability and stability. In recent years, to overcome this task, control over the activities of financial institutions has intensified, as a result they guided by the principles of responsible management of public finances, aimed at introducing the principles of medium-term financial planning, the availability of a system of forecasting budget parameters, ensuring the feasibility of economic forecasts, and creating and maintaining necessary financial reserves.

Info:

Periodical:
International Letters of Social and Humanistic Sciences (Volume 86)
Pages:
10-19
Citation:
V. Varenyk, "Budget Safety as the Level of Budgetary Potential of the State", International Letters of Social and Humanistic Sciences, Vol. 86, pp. 10-19, 2019
Online since:
March 2019
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