МЕТОДИЧНИЙ ПІДХІД ДО РОЗГЛЯДУ ОПТИМІЗАЦІЇ ДЕРЖАВНОГО БЮДЖЕТУ НА ОСНОВІ ЗБАЛАНСУВАННЯ ДОХОДІВ ТА ВИТРАТ

Abstract

The effective operation of the financial sector is a necessary condition for economic development. The government budget, in its turn, is one of the most critical components of an integrated financial system. Since the formation, redistribution and use of a significant proportion of resources accumulated in the budget is the responsibility of the public finance sector, a prudent fiscal policy is vital for successful social and economic regulation. Optimizing the budget of Ukraine becomes particularly urgent under the tense economic and fiscal situation, reduced investment attractiveness, increased budget deficit and public debt. In particular, an important aspect is to ensure the balance of budget revenues and expenditures, because in the case of deficit (excess of spending over receipts), the state’s dependence on external borrowing resources increases, thus reducing the level of financial security and creating unfavorable conditions for the economy. The optimal structure of incomes and expenditure contributes to macroeconomic stability. Tax policy as a method of the state budget balancing should be balanced, because tax increases are effective only to a certain level. In order to avoid a negative impact on economic growth, it is worth looking at and expanding the tax base without increasing rates. The level of taxation should be socially fair and economically optimal. An additional emission of money to finance the budget is used during the implementation of the budget policy, but it can have a very negative effect in the form of inflation’s increase. Therefore, the growth rate of the money supply in the country should not exceed the growth rate of GDP. Also, in order to balance state revenues and expenses, loans are used, both internal and external. By issuing and selling government securities, or receiving another tranche from the IMF, the state receives additional financial resources to cover the deficit, but in this case, public debt increases. It is important that the optimization of the state budget takes place in both directions, both in terms of income and expenditure, since in order to solve social problems, ensuring economic growth, supporting entrepreneurial activity, and regulating the economy, an adequate resource base are needed. At the same time, the optimal allocation of funds in conditions of limited resources is important in order to achieve the maximum positive socio-economic effect. The article defines theoretical approaches to determining the nature of revenues, expenses and expenditures of the budget, examines the general scheme of control of the state budget, the basic concepts of balancing the state budget, develops a conceptual scheme of the state budget optimization based on the balance of income and expenses.