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Abuselidze George
ANALYSIS OF THE FORMATION
AND USE OF BUDGETARY POLICIES ENSURING THE SOCIO-ECONOMIC DEVELOPMENT OF TERRITORIAL UNITS
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.
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Denitsa Zagorcheva, Y. Velcheva
BUDGET DECENTRALISATION AS A FACTOR FOR THE SIMULTANEOUS DEVELOPMENT OF MUNICIPALITIES
AND THE INDUSTRIAL BUSINESS
Summary:
The article presents the results of a study on budget decentralisation and its effects on the development of municipalities and the industrial business. The objective is to reveal the relationship and interdependence between municipalities’ own-source revenues, which are characteristic of their financial and investment policies, and the extent to which industries are developed on their territories. The development of the industrial business is not directly affected, however, by the investment policy of the municipalities. Nevertheless, it contributes greatly to the increase of their own-source revenues.
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Rumyana Lilova, Petko Angelov
The Budget Balance – Technical and Financial Aspects
Summary:
The paper focuses on issues related to the procedure for determining the different types of budget balance in compliance with the consolidated fiscal programme (CFP) and the national budget, and their economic interpretation. The paper also specifies that the numeric value which states the difference between the value of receipts and the value of outlays depends on the absolute sum of expenditure on interest payments on internal and external loans. The dynamics of the difference between the values of receipts and outlays under the CFP and under the national budget is analysed. We prove that the rate of change in the consolidated cash budget balance does not match the rate of change in the cash balance on the national budget. We also identify the relation between analysed balance variables and the reference values approved by the Maastricht Treaty and set in the Public Finance Act. An analysis is made of the effect which the rate of change in the nominal value of receipts and outlays exercises on the dynamics of analysed cash budget balances. Finally, we arrive at the conclusion that the value and the relative share of the budget balance in the GDP do not pose a threat to public finance stability.
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Presiana Nenkova, Angel Angelov
ASSESSMENT OF THE FISCAL STANCES OF THE BALKAN STATES
Summary:
The research paper presents an assessment of key budgetary and socio-economic indicators to reveal the effects of the models of public finance management adopted by the countries on the Balkan Peninsula. Based on these indicators, the analysis determines the fiscal stance of each Balkan country before, during and after the global economic crisis. The results of the analysis show a significant degree of similarity in the discretionary measures taken, but at the same time some more pronounced deviations from the general economic development of the Balkans.
