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  • Abuselidze George
    ANALYSIS OF THE FORMATION AND USE OF BUDGETARY POLICIES ENSURING THE SOCIO-ECONOMIC DEVELOPMENT OF TERRITORIAL UNITS
    JEL: E62, H61, H72, H75, H76, H77
    Keywords: fiscal policy, state and local budget, intergovernmental relations, forms of financial mechanisms, Georgia.
    Summary: The main function of the state in nowadays-civilized world is to maintain the macro-economic proportions throughout the country and avoid financial and economic crises in regions that have priority in the formation of the new economic system in Georgia. The object of the research is the formation and use of Budget policy of Georgia; One of the most problematic places is socio-economic development of territorial units; As a result of the research it is shown that current economic and political system’s radical transformation process, creation of new economic system and ensuring its efficiency, requires mobilization of huge financial resources, which is impossible without proper functioning of the financial mechanism. This in turn requires implementation of sufficient financial and economic policy. The government should take responsibility of supporting financial-economic independence for territorial units. In the future, the proposed forms of financial mechanisms and features of use for the arrangement and territorial integrity of the government.
  • Petko Angelov, Silvia Sasheva Zarkova
    THE FINANCIAL TRANSPARENCY OF BULGARIA’S MUNICIPALITIES WITHIN THE EUROPEAN ECONOMIC DIGITALIZATION
    JEL: H76, O18, R12
    Keywords: digitalization, municipalities, Bulgaria, public sector, electronic government, financial transparency.
    Summary: Digitalization is among the main priorities of the EU set in the Europe 2030 strategy; Bulgaria and Bulgaria’s municipalities are direct participants in this process. The global COVID-19 pandemic at the beginning of 2020 positively reflects the process of digitalization including the public sector and local self-government as the effects of it are of varying intensity. The research ascertains that the process of adjustment of the financial and budget transparency of the municipalities to modern digital solutions has resulted in a significant difference in the implementation of the concept of European economic digitalization among the various administrative units in the country. This requires the improvement of the process of digitalization which is of utmost significance for the private sector; it also necessitates taking efficient measures for the formation of favorable business environment; citizens shall also be taken into account with a view of facilitating them in performing their administrative duties.