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Peculiarities of Planning and Use of the Fiscal Space of Territorial Communities under Martial Law
Riabushka L. B., Prydukha I. O., Prydukha A. O.

Riabushka, Liudmyla B., Prydukha, Ihor O., and Prydukha, Andrii O. (2024) “Peculiarities of Planning and Use of the Fiscal Space of Territorial Communities under Martial Law.” Business Inform 11:221–229.
https://doi.org/10.32983/2222-4459-2024-11-221-229

Section: Finance, Money Circulation and Credit

Article is written in Ukrainian
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UDC 336.14:352

Abstract:
The processes accompanied by the migration of community residents, the relocation of businesses, the increase in funding to ensure the security situation in communities where active military hostilities are taking place, the increase in the need to finance social security programs, health care, and housing reconstruction require a significant burden on the financial capabilities of territorial communities (TCs). In turn, financial opportunities form the fiscal environment of the community and determine real achievements in ensuring the socioeconomic standards of life of community residents. Due to the interaction of local self-government bodies (LSGs) with stakeholders in the context of planning and implementation of local budget (LB) indicators, a fiscal space (FS) of TC is formed. Under martial law, research on the theoretical foundations and practical approaches to the planning and use of FS of TCs should be adapted to the priority goals of communities, the search for additional sources of funding, and the optimization of the use of financial resources. The aim of the article is systematizing the theoretical foundations and practical approaches to the planning and use of FS of TC under martial law. The basic element of the functioning of the FS of TC is the fiscal environment, which is formed as a result of the interaction of the economic, legal, financial and social spheres of activity of local development stakeholders. The use of creative instruments of local development (creation of innovative enterprises, development of modern business; formation of high added value; production of goods and services mainly for export; modernization of social infrastructure; increase of the tax capacity of the community; cooperation between municipalities; use of digital technologies and social networks) will allow communities to form their own unique fiscal space.

Keywords: fiscal space, territorial communities, local self-government bodies, local budgets.

Fig.: 5. Bibl.: 14.

Riabushka Liudmyla B. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Financial Technologies and Entrepreneurship, Sumy State University (116 Kharkivska Str., Sumy, 40007, Ukraine)
Email: [email protected]
Prydukha Ihor O. – Student, Sumy State University (116 Kharkivska Str., Sumy, 40007, Ukraine)
Email: [email protected]
Prydukha Andrii O. – Student, Sumy State University (116 Kharkivska Str., Sumy, 40007, Ukraine)
Email: [email protected]

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