РЕЛЕВАНТНА ОБЕЛЕЖЈА САВРЕМЕНОГ ЈАВНОГ ФИНАНСИРАЊА
RELEVANT FEATURES OF CONTEMPORARY PUBLIC FINANCING

Summary/Abstract: The area of financing public needs is very complex. At the same time, in the modern age, it faces many challenges and it is exposed to numerous changes. They are reflected in both minor and permanent changes in the system of public revenues and public expenditures, as well as in more extensive and more comprehensive reform activities in the public finance sphere. Innovation of ideas on the concept of functioning and financing of the public sector, as well as the implementation of such ideas, in the first decades of the 21st century, are present in many countries. Through the improvement of institutions and procedures in the budget process, with significant fiscal transparency, an enviable level of fiscal discipline should be achieved, accompanied by lower macroeconomic costs. Also, it is necessary to devise the most efficient modalities of obtaining and spending public funds and to regulate them in a proper manner in order to contribute to the preservation of social values, solving the problem of high public spending and huge public expenditures. All of the above, as well as the establishment of fiscal responsibility and “sharpened” awareness in the direction of promoting better performance in the management of public affairs and the implementation of selected public policies, are desirable relevant features of contemporary public financing. Their full goal is worth the especial attention and it is realistic to expect that the “path” to such a goal is not at all easy.

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