Year: 2024 | Month: February | Volume 69 | Issue 1Special
Financial Resources in State Authorities
Oleg Diegtiar
Aleksandr Bokov
Maksym Yushchenko
Vitalii Kuvik and Mykhailo Shkilniak
DOI:10.46852/0424-2513.1.2024.28
Abstract:
The issue of financial resources in state authorities and the features of their sources of formation, further use and allocation is a priority task of macroeconomic policy and budgeting to ensure sustainable economic development. The importance of the research is determined by the increasing instability of the socio-economic environment in the global space and the need to optimize public administration in the dynamic economic environment. The primary objective of the academic paper is to reveal the concepts of using and allocating financial resources based on a critical analysis and study of the practical experience of advanced and developing countries. The scientific article examines the approaches to the sources of financial resources of state authorities. The academic paper analyzes aspects of the possibilities of using decentralized systems of management and control of financial resources distribution based on the practice of implementing block chain technology and also identifies further prospects for its development. The research methodology is based on a methodological and practical analysis of the experience of European countries regarding public administration use of financial resources and appointment to state authorities with the subsequent performance of functions. The academic paper analyzes the basic principles of stimulating the corporate sector to engage and perform the functions of state authorities through the policy of strengthening corporate social responsibility and interaction with the state as a source of investment funds. The results obtained can be used to conduct further analytical investigations on the practice of developing the formation of financial resources, their accumulation and direction by the strategic economic policy of the state.
Highlights
- The efficient management of financial resources in state authorities is crucial for ensuring the fulfillment of basic state functions and responding to geopolitical challenges, emphasizing the need for effective budget reforms and digitalization.
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