{"id":11450,"date":"2019-05-20T16:14:01","date_gmt":"2019-05-20T13:14:01","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=11450"},"modified":"2019-05-21T19:11:59","modified_gmt":"2019-05-21T16:11:59","slug":"volatility-of-budget-financing-of","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/volatility-of-budget-financing-of\/","title":{"rendered":"Boiko Svitlana, Hoshovska Valentyna, Boiko Nataliia, Volatility of Budget Financing of Road Economy in Ukraine"},"content":{"rendered":"

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JEL<\/strong> Classification:<\/strong> G3.<\/td>\nDOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V14(2019)-04<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Boiko Svitlana<\/strong>, PhD (Economics), Associate Professor of the Department of Finance, National University of Food Technologies, Kyiv, Ukraine<\/p>\n

ORCID ID<\/strong>: 0000-0002-1333-0397<\/a>
\ne-mail<\/strong>: svitlanaboyko@ukr.net<\/a><\/p>\n

Hoshovska Valentyna<\/strong>, PhD (Economics), Associate Professor of the Department of Finance, Accounting and Audit, National Transport University, Kyiv, Ukraine<\/p>\n

ORCID ID<\/strong>: 0000-0002-5942-5690<\/a><\/p>\n

Boiko Nataliia<\/strong>, Senior Lecturer of the Department of Finance, Accounting and Audit, National Transport University, Kyiv, Ukraine<\/p>\n

e-mail<\/strong>: boiko.natalia01@gmail.com<\/a><\/p>\n

Volatility of Budget Financing of Road Economy in Ukraine<\/h2>\n

 <\/p>\n

Abstract. Introduction<\/strong>. The critical condition of highways was the consequence of insufficient financing and the cancellation of targeted sources of financing for the road sector. The state of roads is negatively affected by the insufficient amount of financing of the road economy from the state and local budgets and the high level of its volatility.<\/p>\n

Purpose<\/strong>. The purpose of the study is to substantiate the methodological principles for determining the volatility of the road economy budget financing and its assessment in the context of the current priorities of the budget expenditure part.<\/p>\n

Results<\/strong>. The volatility of the road economy budget financing is understood by the authors as the degree of variability of financing of the road economy at the expense of budgetary funds. Estimation of the volatility of the road economy budget financing is proposed to be carried out on the relative indicator – the share of expenditures for road economy in budget expenditures. The inability to assess the volatility of budget financing in absolute terms is due to the high level of inflationary processes and currency fluctuations. The volatility of the share of expenditures on road economy in the expenditures of the Consolidated Budget of Ukraine was at a moderate level with differentiation of actual and planned indicators.<\/p>\n

Conclusions<\/strong>. The analysis of the volatility of expenditures on road transport in the expenditure part of the budget shows the existence of fluctuations from three to six percent in the long run and the tendency to increase in the medium-term period at the level of about one percent annually. In order to reduce the level of volatility of budget financing of the road economy in Ukraine, it is proposed to amend the current legislation, namely to fix the minimum level of financial support of the branch at the expense of budgetary funds at the level of not less than eight percent for the period of realization of the State target economic program of development of highways of general use for 2018-2022 years and regional programs.<\/p>\n

Keywords<\/strong>: budget priorities; budget expenditures; volatility; road economy; Consolidated Budget of Ukraine.<\/p>\n

References:<\/strong><\/p>\n

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  1. Cabinet of Ministers of Ukraine (2018). State target economic program for the development of public roads of state importance for 2018-2022 years (Decree No. 382, March 3). Retrieved from https:\/\/www.kmu.gov.ua\/ua\/npas\/pro-zatverdzhennya-derzhavnoyi-cilovoyi-ekonomichnoyi-programi-rozvitku-avtomobilnih-dorig-zagalnogo-koristuvannya-derzhavnogo-znachennya-na-20182022-roki [in Ukrainian].<\/li>\n
  2. Basiluk, A. V. (2016). Financial and accounting-analytical support of enterprises of road-transport complex. Kyiv: Condor [in Ukrainian].<\/li>\n
  3. Bezuhlyy, A. O. (2015). Organizational-economic mechanism of ensuring the efficiency of distribution of financial resources in road economy (Abstract of Ph.D. Thesis). 00.04. Kyiv [in Ukrainian].<\/li>\n
  4. Zhulin, O. V. (2014). Financial support of enterprises of road economy in the conditions of financial decentralization. Bulletin of the National Transport University<\/em>, 30 (2), 57-65 [in Ukrainian].<\/li>\n
  5. Zatonatska, T. G. & Voznenko, A. (2017). Transformation of the mechanism of state financing of transport infrastructure of Ukraine. Bulletin of the Odessa National University. Series: Economics,<\/em> 22(2), 43-47 [in Ukrainian].<\/li>\n
  6. Kontseva, V. V. & Pechonchik, T. I. (2013). Financing of the needs of the road industry in Ukraine: the current state and ways of solving problems. Bulletin of the National Transport University, <\/em>28, 227-232 [in Ukrainian].<\/li>\n
  7. Nikiforuk, O. I. & Chmyreva, L. Y. (2014). Changing the model of financing of road infrastructure in Ukraine. Economics and Forecasting,<\/em> 4, 38-56 [in Ukrainian].<\/li>\n
  8. Fedosov, V. & Yuri, S. (2012). Budget system. Kyiv: Center for Educational Literature [in Ukrainian].<\/li>\n
  9. National Bank of Ukraine (2004). Methodological guidelines for the inspection of banks “Risk Assessment System” (Decree No. 104, March 14). Retrieved from https:\/\/zakon.rada.gov.ua\/laws\/show\/v0104500-04 [in Ukrainian].<\/li>\n
  10. State Treasury of Ukraine Retrieved from https:\/\/www.treasury.gov.ua\/ua\/file-storage\/vikonannya-derzhavnogo-byudzhetu [in Ukrainian].<\/li>\n
  11. Kislyuk, A. P. (2017). Volatility of tax revenues in the conditions of macroeconomic instability (Abstract of Ph.D. Thesis). 00.08. Kramatorsk.<\/li>\n
  12. Verkhovna Rada of Ukraine (1991). About sources of financing of road economy of Ukraine (Act No. 1562-XII, September 18). Retrieved from https:\/\/zakon.rada.gov.ua\/laws\/show\/1762-19 [in Ukrainian].<\/li>\n<\/ol>\n

    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received:<\/strong> 22 April 2019<\/p>\n

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    Boiko Svitlana, Hoshovska Valentyna, Boiko Nataliia (2019). Volatility of Budget Financing of Road Economy in Ukraine. Modern Economics,<\/em> 14(2019), 26-32. DOI: https:\/\/doi.org\/10.31521\/modecon.V14(2019)-04.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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    [vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text] JEL Classification: G3. DOI: https:\/\/doi.org\/10.31521\/modecon.V14(2019)-04 [\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_column_text] Boiko Svitlana, PhD (Economics), Associate Professor of the Department of Finance, National University of Food Technologies, Kyiv, Ukraine ORCID ID: 0000-0002-1333-0397 e-mail: svitlanaboyko@ukr.net Hoshovska Valentyna, PhD (Economics), Associate Professor of the Department of Finance, Accounting and Audit, National Transport University, Kyiv, Ukraine ORCID ID: 0000-0002-5942-5690 Boiko Nataliia, Senior
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