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Liburkina L. M.

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Fiscal Policy of Economic Development
Vatulov A. V.

Vatulov, Andrii V. (2025) “Fiscal Policy of Economic Development.” Business Inform 12:35–35.
https://doi.org/10.32983/2222-4459-2025-12-35-35

Section: Finance, Money Circulation and Credit

Article is written in Ukrainian
Downloads/views: 0

UDC 336.1

Abstract:
The article explores the fundamental principles of the formation and implementation of budgetary and tax policy. The aim of the article is to systematize and develop theoretical and methodological approaches to the formation and implementation of budgetary and tax policy in the context of ensuring sustainable economic development. It is substantiated that budgetary and tax policy constitutes a multidimensional system of institutional, managerial, and financial mechanisms aimed at ensuring macroeconomic stability, accumulating public resources, and supporting sustainable growth processes. It is noted that the choice of a regulatory model depends on the phase of the macro-financial cycle, the level of economic resilience, and the scale of exogenous shocks. An approach is formulated for assessing the effectiveness of tax regulation through the lens of forecast accuracy, the ratio of revenues to administrative costs, as well as ex ante and ex post transaction costs. Provisions are outlined for enhancing the effectiveness of budget forecasting and planning under current conditions of uncertainty. The appropriateness and necessity of strengthening institutional coordination, enhancing the predictability of changes in tax regulations (rates, bases, benefits, exemptions), and improving planning and forecasting procedures in terms of developing alternative scenarios for fiscal and tax policy have been identified. The main principles of tax policy formation, which ensure favorable conditions for sustainable economic development, have been elucidated. An analysis of the structure of expenditures of the Consolidated Budget of Ukraine for 2015–2024 was conducted, demonstrating a significant reallocation of resources to the defense sector and highlighting the need to optimize the efficiency of public spending. The results of the study can be utilized to deepen scientific understanding of fiscal regulation mechanisms and to develop practical solutions for modernizing fiscal and tax policy amid structural changes in the economy.

Keywords: fiscal and tax policy, socioeconomic development, budget forecasting and planning, budget expenditures, taxes, institutions.

Tabl.: 1. Bibl.: 24.

Vatulov Andrii V. – Candidate of Sciences (Economics), Associate Professor, Candidate on Doctor Degree, Department of Finance, State University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: [email protected]

List of references in article

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