THE PRACTICE OF FORMATION OF THE REGIONAL BUDJET FINANCIAL RESOURCES IN THE CONDITIONS OF FINANCIAL DECENTRALIZATION (ON THE EXAMPLE OF THE REGIONAL BUDGET OF THE ODESSA REGION)
Abstract
Local budgets are the basis for the socio-economic development of territories and improving the material well-being of residents of these territories. Strengthening the financial security of local budgets is seen as an effective tool to influence the development of regions.The purpose of the article is to analyze the formation of the revenue side of the budget of the Odessa region in the context of financial decentralization and to develop practical recommendations for transforming the regional budget into a working tool for the socio-economic development of the region. The article discusses the legal framework for the functioning of local government in the context of financial decentralization. Aspects of the formation of regional financial resources are investigated on the example of the Odessa region. The powers of local government of the regional level are considered. It is proved that regional self-government is an effective vector for the development of the Ukrainian economy as a whole. The dynamics of incomes of the regional budget of the Odessa region and their components for 2015 - 2019 in the context of financial decentralization has been investigated. The analysis of tax revenues of the Odessa region for the largest taxes: personal income tax and corporate income tax. The structure of non-tax revenues of the regional budget and the share of interbudgetary transfers are analyzed. It was revealed that for five years the Odessa region is characterized by the preservation of a significant share of interbudgetary transfers and a small share of its own financial resources. The foreign experience of the formation of financial resources of regional budgets is considered. The sources of the formation of financial resources of regional budgets of such countries as the USA, Germany, Italy, Poland, France and Switzerland are given.The article uses general scientific and applied methods such as historical, mathematical statistics, system comparison, structural and functional approaches to data analysis. The problems and directions of ensuring the socio-economic development of regions in the context of effective management of financial resources have been identified on the example of the experience of economically developed countries of the world.
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References
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