Budget System of Ukraine


The budget is a plan to prepare and use financial resources for the tasks and functions carried out by the relevant state authorities, ARC (Autonomous Republic of Crimea) authorities and local governments during the budget period (Article 2 of the Budget Code).

The budget consists of revenues and expenses that form the budget.

Budget proceeds - all tax, non-tax and other revenues on irrevocable basis, charged under the laws of Ukraine (including transfers, fees for administrative services, budgetary institutions own revenues) loan repayment to the budget, money from the state (local) loans, funds from privatization of state property (to the state budget), return of budget funds from deposits, revenues from sale / presentation of securities.

The budget expenditures - the funds allocated for programs and activities under its respective budget, loans from the budget, debt repayment and allocation of budget funds on deposits, purchase of securities. The budget system of Ukraine consists of the state budget of Ukraine and local budgets.

 

The structure of the budget law includes regulations that govern budget relations in Ukraine, namely the Constitution of Ukraine; Budget Code of Ukraine; State Budget Law of Ukraine; Other laws that regulate budget relations under Article 1 of the Budget Code of Ukraine; regulations of the Cabinet of Ministers of Ukraine adopted on the basis of and pursuant to the Budget Code of Ukraine and other laws of Ukraine; regulations of the executive adopted on the basis of and pursuant to the Budget Code; decisions on local budgets; decisions of the Crimea authorities, local state administrations, local authorities adopted in accordance with the Budget Code.

Ministry of Finance of Ukraine is drafting in the established order the Law on State Budget of Ukraine for an appropriate year, the forecast indicators of the consolidated budget of Ukraine, provides for execution of the State Budget of Ukraine, exercise control over compliance budget legislation at every stage of the budget process, both in terms of the state budget and local budgets.