FORMATION OF BUDGET EXPENDITURE IN THE SYSTEM OF FISCAL REGULATION
Authors: Chugunov Igor , Makohon Valentina , Korovii Valerii 
Published: May 2020

The purpose of the article is to substantiate scientific and methodological approaches to the development of a financial and budgetary strategy for budget expenditures in the context of globalization of the economy. The comparative and factor method allowed to reveal the peculiarities of the financial and budgetary strategy of forming the budget expenditures of the EU and Ukraine in the system of public finance management, to determine approaches for its improvement. Methodology. The substantiation of scientific and methodological approaches to the development of the financial and budgetary strategy of budgeting in the conditions of globalization of the economy is based on the generalization and systematization of the relevant instruments and instruments of the financial and budgetary strategy in the countries with advanced and transformative economies. To this end, the analysis and evaluation of budget architecture in terms of expenditures in different countries was done. Results. The results showed that the financial and budgetary strategy for budget expenditures is a comprehensive, adaptive system of directions and tasks of public administration in the sphere of budgeting expenditures to socio-economic transformations, which aims at improving the welfare of the population and the efficiency of the national economy. To accelerate economic growth, the EU countries are changing the structure of public sector spending in favor of productive ones, while optimizing unproductive spending. In particular, there is an increase in government capital investment. Long-term financial and budgetary sustainability should be assessed based on a system of thresholds for both budget expenditures and revenues; the increase in government spending should not exceed GDP growth. Practical implications. The financial and budgetary strategy is the target of the reproduction process. An adequate level of reasonableness of the architectonics of budget expenditures will contribute to ensuring the dynamic balance and stability of the budget system. It is advisable to make institutional changes to the architecture of budget expenditures based on an assessment of the dynamic interrelation of macroeconomic and budgetary indicators. There is an important task to develop economic and mathematical models based on the analysis and evaluation of macroeconomic proportions and the level of devel-opment of social production. Value/originality. Substantiation of scientific and methodological approaches to the development of financial and budgetary strategy for budget expenditures in the context of globalization of the economy is an important condition for ensuring macroeconomic stability and social development. To increase the feasibility of architectonics of budget expenditures, it is advisable to optimize them, to increase the share of productive costs and to reduce unproductive ones, to reconcile the dynamics of budget expenditures with macroeconomic indicators. Based on the aforementioned in this article, substantiated scientific and methodological approaches to the development of financial and budgetary strategy for budgeting expenditures in the context of strengthening globalization processes and their impact on the financial and budget sphere; approaches to improving the system of fiscal regulation in terms of budget expenditures are revealed, and it is determined that the soundness of the budget expenditures architectonics is the basis for the formation and implementation of effective fiscal policy, which determines the effectiveness of changes in the public finance system.