Investment and social potential local budgets under fiscal decentralization Ukraine

Slobodyanyuk, Natalja and Слободянюк, Наталя Олександрівна (2016) Investment and social potential local budgets under fiscal decentralization Ukraine. Торгівля і ринок України (39-40). pp. 133-140. ISSN 2079-4762

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Abstract

Investment and social potential of local budgets in a decentralized financial system of Ukraine is associated with increasing capacity development budgets, which is part of the special fund. Defects of budgeting is the lack of fixed tax sources, the long list of unreliable, unstable, single source of capital transfers significant role. The disadvantages of expenditures are unprotected nature of funds for repayment of loans and guarantees placement of municipal bonds. Positive indicators are growth over three year’s budget expenditures of local budgets, primarily due to capital expenditures. Courtesy of the author's definition of investment and social potential of local budgets in a decentralized financial system of Ukraine as a set of projected investment of resources that can be mobilized to achieve social policy objectives of local communities and further investment in increasing basis. For the stability of investment and social potential of local budgets must increase their revenues through tax revenues (including due to tax personal income single tax and property tax) and increase the investment attractiveness of municipal bonds. The key attraction of credit resources is attributing expenditures to repay loans obtained to secure the local budget items for the duration of the loan agreement.

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