№ 1/2021

Fìnansi Ukr. 2021 (1): 46–63https://doi.org/10.33763/finukr2021.01.046

BUDGET POLICY

YUSHKO Serhii ¹

¹Simon Kuznets Kharkiv National University of Economics
OrcID ID : https://orcid.org/0000-0001-6323-7687

Budget performance indicators: theoretical and practical aspects

The article examines the indicators on the basis of which the budget execution in Ukraine is assessed. Budget revenues and expenditures are characterized. The paper demonstrates the features of calculating the budget deficit (surplus) in Ukraine before and after 2004 year, emphasizing that despite the special place of this indicator in the budget planning system, for various reasons for a number of years there was neglect of current regulations legislation and world experience in budget deficit management. It is emphasized the imperfection of the budget deficit indicator due to its inherent shortcomings, concluding that the absolute value of the budget deficit is important in connection with another indicator – budget financing. The components of budget financing are named and characterized. It was found that the most important role in the context of balancing the main budget of the state belongs to debt operations. It is demonstrated the relationship between indicators of budget deficit and financing (their modular values are the same), revenues and expenditures (identical provided the balances at the beginning and end of the reporting period), net borrowing and the amount of public debt (the value of the latter increases / decreases by the amount net borrowing). The examples of specific budget years demonstrate the facts of exceeding the total amount of funding (budget deficit) by net borrowings of the state; the conclusion about the significance of the indicator of net borrowings in assessing the state of public finances is drawn; the need for further search for ways to improve the quality of budget management, thoughtful borrowing planning, the implementation of active budget operations with securities is stressed.

Keywords:budget, budget revenues, budget expenditures, budget financing, deficit, surplus, budget borrowings

JEL: H62, H63, Н69

YUSHKO S. . Budget performance indicators: theoretical and practical aspects / S. YUSHKO // Фінанси України. - 2021. - № 1. - C. 46-63.

Article original in Ukrainian (pp. 46 - 63)

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