Принципи бюджетного процесу та фінансового регулювання в законодавстві ЄС
Principles of the Budget Process and Financial Regulation in EU Legislation

Summary/Abstract: Studying the principles of the budget process in order to determine their positive aspects and use them to improve national legislation in the field of the budget process is an important task. The purpose of this study is to analyze the principles of the budget process and financial regulation in EU legislation, outline the directions of their implementation in the mechanism of the national budget process, budget management and budget policy. The principles of budget regulation proposed by international organizations, in particular the OECD, as well as the principles provided for in the Financial Regulation applicable to the general budget of the European Union, have been studied. These principles have been compared with the principles of the budget system of Ukraine, which are defined in the Budget Code of Ukraine. It is substantiated that budget principles represent values and rules that indirectly affect various aspects of the budget process, budget management, as well as many other issues of public administration. It has been determined that the principle of sound financial management and productivity, which requires taking into account four principles (economy, efficiency, effectiveness, productivity), implies a clear emphasis on the use of the Smart approach (the presence of specific, measurable, achievable, relevant and time-bound goals), control and monitoring, transparency and publicity. Special attention in the principle of sound financial management and productivity is paid to efficient and effective internal control of budget implementation. On the contrary, the issues of control and audit in the Budget Code of Ukraine are considered only from the point of view of the subjects of control and their powers, and objects of control. The expediency of using this EU experience is substantiated because management principles as important principles of the budget process are scattered among other principles of the budget system of Ukraine and it is necessary to focus specifically on the management of state and local finances or on budget management at the state and local levels, taking into account the need to ensure the specific requirements of economic development.

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