ФІНАНСОВО-БЮДЖЕТНА ПОЛІТИКА В УМОВАХ ЕКОНОМІЧНИХ ПЕРЕТВОРЕНЬ

Vollständiger Abstract

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This article examines the mechanism for formulating fiscal and budgetary policy amidst economic transformations. The effective formulation of the state budget and the financial support of national defense and security are matters of significant importance. It is demonstrated that fiscal and budgetary policy is a key instrument of state governance regarding socio-economic development; its effectiveness depends on the coherence of the institutional framework, the quality of budget planning, the performance of financial mechanisms, and the state's ability to respond effectively to changes in the domestic and external economic environment. Improving the effectiveness of fiscal and budgetary policy is linked to the implementation of modern approaches to the strategic management of public finances. In the current environment, fiscal policy establishes the financial prerequisites for realizing the state's strategic priorities, maintaining macroeconomic balance, ensuring sustainable economic growth, and upholding fiscal security and economic resilience under martial law. Fiscal and budgetary policy is a key instrument of state macroeconomic regulation, facilitating the achievement of strategic goals for societal development. Amidst the current economic transformation, enhancing the efficiency of financial mechanisms aimed at supporting the national economy's competitiveness has become particularly important. Modernizing the institutional framework for budget expenditure planning and strengthening the financial underpinnings of societal development remain critical tasks. Improving the effectiveness of fiscal and budgetary policy is inextricably linked to the implementation of modern approaches to the strategic management of public finances. The budget occupies a central place in the public finance system, as it is the mechanism through which the redistribution of gross domestic product to meet societal needs is carried out. The performance of the budgetary system is largely determined by the quality of management decisions in the sphere of public finance; this directly affects the level of budget balance and the effectiveness of the budgetary mechanism as an instrument for economic transformation.