Budget in the digital economy

The article examines budgetary activities and budgetary policy in the digital economy and shows the importance of the principle of transparency, openness of the budget as a factor in the development of digitalization in budgetary activities. Several ways of development of the information sphere of public finance management are analyzed. It is emphasized that the “electronic budget” is aimed at ensuring transparency, openness and accountability of the activities of state bodies and government bodies. The role of the subsystems of the “electronic budget” is shown, in particular the management of expenditures of the electronic budget, where reserve funds are of great importance. The importance of financial monitoring as an instrument of control over the effective use of federal budget funds is noted.

Consolidation of Public Finances as a Tool for Minimising Disparities in the Sectoral Structure of the National Economy

The present paper sets the task to consider the issues of public financial resources consolidation in the context of disclosing tax and budgetary policy tools to minimise disparities in the sectoral structure of the Ukrainian economy. The relevance of the study is determined by the topicality of the issues of consolidation and subsequent synchronisation of the finances of public structures in order to create the necessary conditions to minimise the differences between sectors of the Ukrainian economy. In this context, it is extremely important to consider the issues of public finance consolidation through the prism of disclosing the fiscal policy tools as a means of minimising the disparities in the sectoral structure of the Ukrainian economy. The issues of budgetary policy and the economy of Ukraine are extremely important from the standpoint of assessing the correctness of the chosen course of development of Ukrainian society in general and individual sectors of the national economy in particular. The purpose of this study is to assess the real state of the country's budgetary policy in general and in the context of the consolidation of public finances as a tool to minimise these disparities in particular, as well as to consider some aspects of the current status of the Ukrainian economy. The leading approach of the study is a combination of quantitative and qualitative analysis of the matter at hand. The main results of the study were: an assessment of the level of disparities in the distribution of funds from the state budget of Ukraine for 2020; determination of the main directions for the consolidation of public finances when planning the state budget for the current financial year. Prospects for further research in this direction are determined by the importance of various aspects of the distribution of public finances in various spheres of the national economy and the need to create optimal conditions for their proper distribution. The applied value of this study lies in the assessment of the prospects for consolidating public finance as a tool to minimise the disproportions in the sectoral structure of the Ukrainian economy and the possibility of searching for and then introducing optimal ways for a qualitative resolution of this issue

Methodical provision of financial security assessment of the state

Purpose of the research. The main purpose of the article is to improve methodological support for the assessment of the financial security of the state, taking into account the impact of budgetary policy. Methodology. During the study the following methods were applied: comparative analysis, integral estimation, normalization of indicators, component analysis, method of principal components, etc. Results. In the course of comparing the existing methodological support for the financial security assessment, it is justified, notwithstanding the existing shortcomings, the expediency of applying in the analytical work the Methodological recommendations for the calculation of the economic security level of Ukraine of the Ministry of Economic Development and Trade of Ukraine (2013) and the necessary calculations of the level of financial security of Ukraine for 2009-2018. Additional financial security indicators are proposed, taking into account the priority of its budget component, in particular, the share of revenues from the National Bank of Ukraine (NBU) in the state budget revenues (for banking security), the ratio of the pension contributions of non-state pension funds to the own income of the Pension Fund of Ukraine (PFU) market), government revenue as a percentage of consolidated budget expenditures and the share of public servicing and debt repayment expenditures in consolidated budget expenditures (for debt security), expenditures and for servicing and repayment of public debt as % of gross domestic product (GDP) (for fiscal security); consolidated budget revenues in USD US (for currency security), consumer loans to households, % of household income, and lending to consolidated budget expenditures (for monetary security). On the basis of regression analysis, where sub-indices of functional constituents are taken by factor signs, and the integral indicator of financial security is obtained as a result sign, the reliability of the calculations is confirmed. Practical meaning. The calculated sub-indices of the functional components of the financial security of Ukraine and the integrated indicator for 2009-2018 can be used in the development of plans, forecasts, strategies for socio-economic development of Ukraine. Prospects for further research of the author are to study the impact of budgetary policy on the state of financial security of Ukraine.

ANALISIS INTEGRASI DAN KOORDINASI TERHADAP IMPLEMENTASI REFOCUSING ANGGARAN DALAM PENANGANAN COVID 19

ABSTRAKPermasalahan dalam penelitian ini, Pemerintah Provinsi Banten dihadapkan pada kondisi perekonomian daerah yang lesu akibat pandemi Covid-19 sehingga diperlukan skema pengaturan kebijakan anggaran daerah, mulai dari pengaturan pendapatan daerah, belanja daerah, hingga penetapan anggaran belanja daerah. Pengaturan pembiayaan daerah. Berdasarkan Surat Edaran Menteri Keuangan dan Menteri Dalam Negeri, Pemerintah Daerah berkewajiban membuat mekanisme penetapan Anggaran Pendapatan dan Belanja Daerah melalui refocusing dan realokasi anggaran. Tujuan dari penelitian ini adalah untuk mengetahui bagaimana kebijakan penganggaran daerah dalam studi kasus pandemi Covid-19 pada Pemerintah Daerah Provinsi Banten. Metode yang digunakan dalam penelitian ini adalah deskriptif kualitatif dengan menggunakan Purposive Sampling. Hasil penelitian menunjukkan kebijakan pengelolaan APBD pada masa pandemi Covid-19 di Pemerintah Provinsi Banten bahwa, Pemerintah Provinsi Banten telah menjalankan pengelolaan anggaran sesuai dengan arahan dan kebijakan yang telah ditetapkan oleh Pemerintah Provinsi Banten. pemerintah pusat melalui mekanisme refocusing dan realokasi anggaran pendapatan, belanja, dan pembiayaan daerah secara tepat. ABSTRACTThe problem in this research, the Provincial Government of Banten faced on the condition of the regional economy sluggish due to pandemic Covid-19 so it requires a scheme of setting budgetary policy of regions, ranging from setting regional revenue, regional expenditure, up to the setting of local financing. According to the Circular Letter of the Minister of Finance and Minister of internal Affairs, Local Government is obliged to make the mechanism of setting the Budget Revenue and Expenditure through refocusing and reallocation of the budget. The purpose of this study is to determine how the policy of local budgeting in the pandemic Covid-19 study case on Local Government of Banten Province. The method used in this research is descriptive qualitative using Purposive Sampling. The results showed the policy of the management of the regional budget in the pandemic Covid-19 at the Provincial Government of Banten that, the Provincial Government of Banten has been running a budget management in accordance with the directives and policies that have been set by the central government through the mechanism of refocusing and reallocation of the budget revenue, expenditure, and financing the area appropriately.

Accountability Revisited: Parliamentary Perspectives on the Inter-Parliamentary Conference on Stability, Economic Coordination, and Governance

<p>This article aims to verify whether, and to what extent, the Inter-Parliamentary Conference on Stability, Economic Coordination and Governance (IPC SECG) has become an accountability enhancing arena through which domestic legislatures can better scrutinize the process of the European Semester. While there is a broad scholarship on the difficult institutionalization of the IPC SECG and controversies related to its operation, little has been said about its actual performance as an accountability enhancing platform, especially in the context of domestic interactions between parliaments and executives in the area of economic governance. Despite it being operational for several years, the scholarship lacks focus on the national parliaments’ perspective with regard to this Conference’s effectiveness. Against this background, drawing from comparative data obtained from questionnaires and interviews, this article addresses the above-mentioned aspects from an actor-oriented approach and delves deeper into parliamentary perceptions of the SECG Conference. Findings indicate that attendance at the SECG Conference by MPs has neither significantly affected their domestic parliamentary activity in the area of economic governance and budgetary policy, nor improved the existing domestic legislative-executive relationship in this context. The Conference’s procedural weaknesses are only one part of the problem, another being the marginalized domestic position of parliaments in the European Semester procedure.</p>

Budget expenditure management in conditions of decentralization on the example of Ukraine

The object of this research is budget expenditures. The limited financial resources are typical for most countries of the world, therefore, it is important to find and improve the ways of forming and implementing the budgetary policy of the state at every stage of the budgetary process. The budget of any country reflects important economic and social aspects of the life of society as a whole and each person individually. Of course, the budget is a powerful regulator of the main economic processes. One of the most problematic areas is ineffective and inefficient use of budget expenditures. Therefore, this study is aimed at developing practical recommendations for optimizing the process of managing budget expenditures in the context of decentralization to ensure sustainable socio-economic development of the state. To achieve this aim, the author used the problems of managing budget expenditures on the example of Ukraine in the context of the introduction of decentralization processes in the country. The research used the methods of scientific abstraction, systems approach, grouping and classification. To determine the integrated indicator of the efficiency of budget expenditures management at the level of a budgetary institution, society, region, state, a statistical method was used that reflects the correlations of the constituent indicators. To optimize the process of managing budget expenditures, which is considered as a cycle of public policy, two main approaches are proposed. First, a change in the concept of budget expenditures management – a transition from the consumption budget to the development budget, which will allow achieving sustainable economic development in the long term. Secondly, it is proposed to introduce an assessment of the effectiveness of budget expenditure management by calculating an integrated indicator, consisting of all components that reflect the effectiveness of the budgetary policy being implemented. Thanks to the proposed methodology, it is possible to timely adjust the policy for managing budget expenditures in the event of an unsatisfactory value of the integrated indicator of the effectiveness of managing budget expenditures. This provides the advantage that such an adjustment will have a positive effect, since it will be carried out both at the level of a budgetary institution, society, region, and the state as a whole.

Appropriate Budgetary Policy for a Changing Economy

The XXI century's contemporary challenges and crises indicate that fiscal policy is an appropriate tool for countercyclical regulation, ensuring sustainable economic growth and social justice. In this regard, society's requirements for the quality of budgetary policy have changed, which has shifted the focus in setting goals and choosing tools for its implementation from the position of ensuring sustainable economic growth and the principles of fair distribution of income. The analysis allows us to conclude that to ensure the proper quality of budgetary policy, its goals and objectives must correspond to the strategic goals of developing public law education, and coordination of budgetary and monetary policy is necessary. To achieve the goals of justice, the author of the article propose to differentiate the instruments of inter-budgetary reallocation of funds depending on the level of debt sustainability of the regions and to use targeted grants to motivate the authorities of public law entities to ensure sustainable socio-economic development. The article shows that for improvement of the formation mechanism of state programs and national projects and budget efficiency growth, it is necessary to monitor the compliance of tax expenditures and budget subsidies with the target indicators of state programs.

The Analysis of Conceptual Theoretical Approaches to the Problem of Technology Transfer in Foreign Universities

The article overviews the existing models of technology transfer, including those within foreign universities, and highlights the most relevant ones that can be used by Russian universities in the post-COVID-19 conditions. The study should allow the university-based transfer centers to choose the model which is mostly suitable for their situation, and to include elements that will help them to maximize the efficiency of their activities. The existing centers will be able to make changes in their activity in order to update and/or to transform it in accordance with the changed conditions. For the management personnel of the university, the article also provides practical recommendations on managing technology transfer centers. The authors reveal the key functioning elements of various technology transfer models, which can be used by management personnel to design technology transfer centers based on Russian universities. The possible result of the stakeholders’ getting to know this study might be their creating and implementing regulations to govern the technology transfer centers’ activities; forming a personnel reserve; advanced existing personnel training and multi-competence teams’ creating; forming a flexible budgetary policy, as well as a policy of values, for the technology transfer center to function within.