Formation of budget expenditure as a component of social development
Authors: Makohon Valentyna , Adamenko Iryna 
Published: April 2019

Relevance of research topic. The development and implementation of effective policy in the field of financial and budgetary relations is a powerful tool for influencing the country's socio-economic development. Accordingly, ensuring effective influence on the pace and quality of economic growth requires the improvement of the system of budget expenditures as a component of social development taking into account the strengthening of globalization processes. Formulation of the problem. With the acceleration of the pace of financial and economic globalization, its increasing influence on the system of public finances and its components, the issues of increasing the efficiency and effectiveness of fiscal policy regarding the expenditure part of the budget are urgent, which requires further scientific research of the theoretical and applied aspects of the formation of budget expenditures as a component of social development. Analysis of recent research and publications. The problem of the formation and implementation of budget policy regarding the expenditure part of the budget, its impact on socio-economic processes is currently quite widespread in scientific research. These are works by well-known domestic and foreign scholars: J. Buchanan, P. Samuelson, J. Stiglitz, T. Bogolib, L. Lisyak, I. Lukyanenko, A. Mazaraki, V. Sidenko, I. Chugunov and others. Selection of unexplored parts of the general problem. The above-mentioned issues are actualized in connection with the strengthening of globalization processes, the adverse external and internal economic environment, which requires the solution of a number of specific tasks related to increased efficiency of the distribution and use of public financial resources, improvement of the budget policy of Ukraine in relation to the formation of budget expenditures. Setting the task, the purpose of the study. The research objective is to reveal the role of the expenditure part of the budget in ensuring social development, to reveal the features of the budget policy regarding the formation of the expenditure part of the budget. The purpose of the study is to substantiate the priority tasks of the budget policy regarding the formation of budget expenditures and the improvement of their architectonics in the context of institutional transformations. Method or methodology for carrying out the research. The article uses a set of methods of scientific research: system approach, statistical analysis, structuring, analysis and synthesis, etc. Presentation of the main material (results of work). The role of the expenditure part of the budget in ensuring social development is determined and the priorities of the budget policy regarding budget expenditures formation, improvement of their architectonics in the context of institutional reforms are substantiated. The analysis and estimation of the structure of expenditures of the consolidated budget of Ukraine in terms of functional and economic classification, payments on repayment and servicing of the state debt are carried out. The field of application of results. The results of this study can be applied in the process of formation and implementation of the budget policy of Ukraine. Conclusions according to the article. The development of public finances depends on the direction of transformation of the formation of the expenditure part of the budget in line with changes in the socio-economic environment. The budget strategy for planning the expenditure part of the budget, its structure contributes to a balanced distribution of national income is substantiated. At the same time, the relevant strategy should be based on qualitative assessment and monitoring of the development trends of the domestic economy and aimed at ensuring the innovative activity of production. In the context of transformational transformations, the task of optimizing budget expenditures and ensuring a sufficient level of their flexibility based on economic cyclicality and macroeconomic situation in the country are important. The article defines the strategic priorities of budget policy regarding the formation of budget expenditures as a component of social development.