ADAPTATION OF BUDGETARY LEGISLATION OF UKRAINE TO THE REQUIREMENTS OF THE EUROPEAN UNION AND THE IMPACT OF ECONOMIC RISKS ON THE STATE BUDGET INDICATORS

Ukraine is on the way budget relationships reform realization, one of which tasks is adaptation of current legislation to EU legislation in order to create European conditions of development in country and in budget system particularly. Budget control is the type of state finance control, integrated and telic system of economic and legal measures of authorized control subjects, aimed on providing of eligibility and effectiveness of budget process parties while drafting, reviewing, adoption of budgets, fulfillment, amending, considering reports on budgets’ fulfillment, which compose the budget system of Ukraine. From that point of view the title of Chapter 17 of Budget Code of Ukraine (hereinafter BCU) “Control on maintenance of budget legislation” means not the essence of state finance control but its aim. The powers of controlling subjects which are established by this chapter have mostly duplicative character while current Chapter 5 of BCU determines types of budget legislation violations and means of influence for such violations still contains inaccuracies and gaps in expression of legal norms concerning budget control. Lack of budget control principles implementation on the regulatory level causes commitment of budget violation. On Accounting Chamber reports while fulfilling the controlling measures concerning the effectiveness of budget funds usage for ensuring activities and performing powers of public authorities more than 23 million UAH have been identified as used with violation of the requirements of the current legislation, and almost 313 million UAH were used inefficiently According to the calculations, the state budget short received income of almost 0.6 million UAH and also 10.3 million UAH were transferred to budgets exceeding the established deadlines/ Thus, the system of budgetary control requires improvement by defining a modern concept of its organization and implementing appropriate amendments to the current legislation. With this aim the authors have studied international experience, which shows the necessity of integrating new contemporary concept of budgetary control, which should be oriented to preliminary and current budgetary control.