ШТА СЕ ПРОМЕНИЛО У БУЏЕТСКОМ СИСТЕМУ И БУЏЕТУ
CHANGES IN THE BUDGET AND BUDGET SYSTEM

Summary/Abstract: Many modem states today are in some sort of a financial crisis. The conflict between the ever-growing public demand towards the state and the limited financial resources is more and more difficult to solve by applying the common mechanisms available within the public sector. In the last couple of decades, the reduction of public expenditures and their rationalization have been the primary goals of economic policy, and the stabilization role of fiscal policy has come into the spotlight. To this end, governments embark on more profound reforms of the budgetary system, laying special emphasis on the efficiency of public spending and an orientation towards the results of the employed budgetary measures. There are certain apparent trends in these budget changes which are aimed at balancing public revenues and expenditures and observing the established budgetary discipline. To that effect, there are fiscal rules laid down to limit the framer of budgetary decisions and measures. With the same purpose in mind, there is a different approach to managing public expenses, which has three basic goals: to strengthen the overall fiscal discipline, to allocate government resources in compliance with the strategic priorities, and to encourage efficiency of public services. As opposed to the conventional budgeting, the concept of managing public expenses is primarily aimed at achieving the desired budgetary and political effect (more benefit from the spent bugetary resources) and higher level of responsibility of the budgetary authorities for the achieved budgetary results. For that reason, the budgetary process is seen in a broader time context (long-term financial planning) including an intensified control of the planned budget expenditures and the achieved results. An issue of considerable importance in the process of reforming budgetary systems and policies in relatively developed countries is the role of Parliament. There are apparent attempts on the part of Parliament to regain its "power over money matters" (as the most significant attribute of political sovereignty), certainly to the extent it is possible in the current circumstances and allowed by different political structures.

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