The Importance of Openness and Transparency in the Budget Process in the Defense and Security Sector of Ukraine

Lyutiy, Igor; Petlenko, Yuliia; Drozd, Nataliia

doi:10.55643/fcaptp.6.47.2022.3900

Cited by 3 publications

(2 citation statements)

References 19 publications

(17 reference statements)

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“…The recent publication by representatives of the professional community of the Taras Shevchenko National University of Kyiv, authored by I. Lyutiy et al (2022), brings to the fore the crucial issue of enhancing open and democratic control over the budget process in Ukraine's defense and security sector, in line with the emerging principles of information openness and the classification of information as a state secret. The authors have strongly underscored the urgent need to formulate transparent budgeting standards and implement an open indicative system to monitor and evaluate the budget process in the defense and security sector.…”

Section: Literature Reviewmentioning

confidence: 99%

Transformation of the Budget System of Ukraine in the Face of Extraordinary Challenges and Threats

Gasanov,

Ivashchenko,

Bartosh

et al. 2024

ФКДПТП

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Full-scale hostilities have had a significant impact on the budget system due to increased spending on defense, reconstruction, and humanitarian assistance to vulnerable groups, which has affected the accumulation of budgetary resources. The article examines the impact of extraordinary challenges and threats on the national budget system, in particular, on the structure and volume of budget revenues and expenditures, the growth of the budget deficit and public debt, changes in regulation in the field of public finance, and the potential of financial capabilities of the regions. The purpose of the article is to make a scientific and practical assessment of the problematic aspects related to the transformation of the budget system, to outline the ways of attracting financial resources that can be used for the purpose of distribution and redistribution to perform the functions of the State, to identify the main areas of influence of emergency challenges and threats on the budget system of Ukraine and the priority areas and measures of budget policy in wartime.The authors conclude that the strategic and main directions of Ukraine's development need to be improved in the strategy of public finance management and financial and economic security as part of the implementation of the Memorandum of Economic and Financial Policies by the IMF. At the same time, the relevant legislative changes to the state budget for 2023 that meet the needs of Ukraine are studied, and the implementation of the first preparatory stage for the development of the National Revenue Strategy is analyzed. The authors emphasize the positive impact of decentralization on local self-government and the financial sustainability of local budgets. It is proposed to empower communities through monitoring the implementation of local budgets. In the context of defense needs, the possibility of including defense expenditures during martial law in local budgets is considered.

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Section: Literature Reviewmentioning

confidence: 99%

Transformation of the Budget System of Ukraine in the Face of Extraordinary Challenges and Threats

Gasanov,

Ivashchenko,

Bartosh

et al. 2024

ФКДПТП

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“…Among these, the strategic use of an endowment fund stands out. This approach, which we have previously explored for its potential in public finance and education (Lyutiy et al, 2022;Kuznyetsova et al, 2017), is also highly applicable to innovationdriven research in the green energy sector. An endowment fund, typically sourced from private or corporate donors, can be invested to generate returns that finance ongoing green energy initiatives.…”

Section: Innovative Financial Solutionsmentioning

confidence: 99%

Financing Green Energy for Enhancing Energy Security in Ukraine

Petlenko

2024

ФКДПТП

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This paper examines the financing of green energy initiatives as a critical element in strengthening Ukraine's energy security, especially in the context of post-war reconstruction and the need for sustainable and resilient energy infrastructure. The study aims to assess the potential and challenges of investing in green energy in Ukraine, considering the destruction caused by Russian military actions in the winter of 2022-2023, and the need for recovery based on sustainable models. In this regard, the obtained results emphasize the importance of creating a reliable and decarbonized energy sector, driven by both domestic needs and international cooperation with the EU and other partners. The analysis shows that despite strong support for the green energy transition, the development of the sector is hindered by the high capital intensity required for green technologies, which are often not competitive without government subsidies. This requires a careful balance between innovation and commercial viability of green energy projects, highlighting the need for public and private investments in technologies that can compete with traditional sources of energy in the long term and developing new financing tools for Ukraine. The conclusions indicate that a multifaceted approach is needed to ensure Ukraine's energy future and minimize risks. Such an approach should include policy reforms, strategic investments in proven green technologies, and fostering partnerships to bridge the commercialization gap. Policymakers face the dual challenge of accelerating the energy transition while managing financial constraints exacerbated by military spending, highlighting the trade-off between rapid development and the risks associated with financing innovation. Overall, this study contributes to the understanding of how green energy financing mechanisms can enhance Ukraine's energy security, suggesting broader implications for policy, investment, and technological innovation in the context of Ukraine's post-war recovery and future resilience.

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Conceptualization of budgeting in the paradigm of institutionalism

ZHYBER,

TYMCHENKO

2023

Fìnansi Ukr.

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Introduction. The development of a theoretical and methodological concept of budgeting in public finance is necessary and important for Ukraine, which does not have its own long tradition of the budgeting technologies developing on the democratic principles. Considering the fact that budgeting takes place in an institutional environment, it is reasonable to substantiate the conceptual foundations of budgeting in the paradigm of institutionalism. Problem Statement. A systematized presentation of the conceptual foundations of budgeting as a macro-level financial and management technology with the specification of elements, conditions and principles remains an unresolved task. The purpose of the article is to substantiate the conceptual foundations of modern budgeting as a financial and management technology aimed at ensuring public welfare, to identify the components of budgeting, to expand and deepen their characteristics compared to the previous developments, to substantiate the principles of budgeting. Methods. The authors base their research on the methodology of institutionalism. They use evolutionistic approach to argue for the institutional nature of budgeting; systemic approach and theoretical generalizations - for conceptualizing budgeting; graphic interpretation - for a visualization of the components of budgeting as a financial and management technology. Results. The authors reveal the evolutionary changes in the development of budgeting technologies, give the definition of budgeting in public finance, identify the elements of budgeting, determine the sequence of budgeting stages as a process aimed at ensuring sustainable development and growth of the welfare of society, and substantiate the principles of budgeting. Conclusions. Budgeting in public finance is a management technology, the content of which is revealed in two aspects: 1) as a set of techniques, tools and methods; 2) as a process consisting of successive stages: from setting the goals and tasks of socio-economic development to evaluating effectiveness and efficiency. With the evolution of the state, approaches changed and different budgeting technologies were formed. The main task of financial and management engineering is the correct choice and combination of various budgeting technologies or their components to achieve the desirable result.

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The Importance of Openness and Transparency in the Budget Process in the Defense and Security Sector of Ukraine

Cited by 3 publications

References 19 publications

Transformation of the Budget System of Ukraine in the Face of Extraordinary Challenges and Threats

Transformation of the Budget System of Ukraine in the Face of Extraordinary Challenges and Threats

Financing Green Energy for Enhancing Energy Security in Ukraine

Conceptualization of budgeting in the paradigm of institutionalism

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