№ 9/2018

Fìnansi Ukr. 2018 (9): 45–59https://doi.org/10.33763/finukr2018.09.045

BUDGET POLICY

PAVLIUK Klavdiia ¹, SHAPORENKO Olena ²

¹SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0002-9495-6630
²SESE “Academy of Financial Management”

The development of the medium-term budget planning in Ukraine

The introduction of medium-term budget planning is one of the priorities of the state policy in Ukraine, which is provided by a number of state strategic documents and the IMF Memorandum. The article presents a thorough analysis of the advantages and disadvantages of medium-term budget planning. The current legislation of Ukraine and draft regulatory acts that provide for the full implementation of the medium-term budget planning are reviewed. The main changes are described, namely: the introduction of the Budget Declaration for the medium term (3 years); an updating budget calendar; expansion of budgetary rules; coordination of strategic and budget planning. In the context of the new approaches to the analysis of the state policy and the relevant changes to the Cabinet of Ministers of Ukraine regulations, stakeholders are identified and their role and motivation in the process of introduction of medium-term budget planning are defined. The forecast of the impact of the introduction of medium-term budget planning on the key interests of stakeholders is made and the possible alternatives of the introduction of medium-term budget planning with the advantages and disadvantages are substantiated. The conducted study makes it possible to conclude on the necessity and expediency of the use of the three-year budget planning, its combination with the strategic goals and priorities of the state policy, with the possibility of annual adjustment of expenditure ceilings in order to conduct a consistent budget policy.

Keywords:budget declaration, medium-term budget planning, cost overview, expenditure ceiling, fiscal rules, impact forecast, stakeholders

JEL: H30, H50, H61

PAVLIUK K. . The development of the medium-term budget planning in Ukraine / K. . PAVLIUK, O. . Shaporenko // Фінанси України. - 2018. - № 9. - C. 45-59.

Article original in Ukrainian (pp. 45 - 59)

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