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Digest Finance
 

Analysis and control of the budgetary policy efficiency in 20162018

Vol. 21, Iss. 2, JUNE 2016

Received: 15 February 2016

Received in revised form: 3 March 2016

Accepted: 24 March 2016

Available online: 17 June 2016

Subject Heading: MONETARY SYSTEM AND CURRENCY CIRCULATION

JEL Classification: H53, H61, H62, H68

Pages: 22-30

Fedotova G.V. Volgograd State Technical University, Volgograd, Russian Federation
g_evgeeva@mail.ru

Dusetova S.M. Volgograd State Technical University, Volgograd, Russian Federation
020893sania@mail.ru

Importance The research is of significance since there is a need to study issues and prospects of enhancing the budgetary policy efficiency. The article focuses on financial and economic relationships underlying the process of budgetary resource management.
Objectives The research theoretically and practically substantiates the effective budgetary management in the current and hardly predictable conditions of financial planning.
Methods Relying upon methods of statistical analysis, financial analysis, horizontal and vertical analysis of data, we analyzed the efficiency of budgetary policy.
Results In 2015, external economic conditions included significant drop in oil prices and consumption possibilities of the Russian buyers of imported products. The standard of living will imply a general rise in unemployment as business activities go down. Adhering to principles of budgetary policies and laws, total expenditures of the federal budget are proposed to cut against the approved indicators only by conditionally approved expenditures in 2016, which are 2.5% higher than total spending in 2017, and estimate expenses for 2018 in line with the budgetary rules.
Conclusions and Relevance This research presents certain scientific novelty since the budgetary policy is a focal point of the governmental economic policy, reflecting entirely financial relationships of the State with public institutions and citizens.

Keywords: budgetary policy, efficiency, socio-economic development, budgetary planning, budgetary process, budget message

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