BUSINESS INFORM JOURNAL.

УКР

ENG

Search:

REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

PUBLISHER

Liburkina L. M.

SITE SECTIONS

International Experience and National Peculiarities of Budgetary Financing of Targeted Development Programs in the Context of Global Crises
Biskyi S. N.

Biskyi, Serhii N. (2025) “International Experience and National Peculiarities of Budgetary Financing of Targeted Development Programs in the Context of Global Crises.” Business Inform 11:742–742.
https://doi.org/10.32983/2222-4459-2025-11-742-742

Section: Finance, Money Circulation and Credit

Article is written in Ukrainian
Downloads/views: 0

UDC 336.14:338.1:330.1

Abstract:
The article examines international experience and national peculiarities of budget financing for targeted development programs under global crises of the 21st century, particularly the 2008–2009 financial crisis, the COVID-19 pandemic, and the 2022–2024 energy crisis. The research methodology is based on a comparative analysis of different countries’ responses to crisis phenomena, a structural-functional analysis of institutional mechanisms for managing budget expenditures, and the systematization of budget financing models. As a result of the study, four basic models of budget management were identified: the State control and strategic planning model, the decentralized planning with coordination model, the international coordination and assistance model, and the hybrid model, each of which possesses specific characteristics, advantages, and limitations depending on the country’s institutional context. A critical analysis identified significant limitations to the direct adoption of international practices in Ukraine, caused by the ongoing war, economic crisis, weak institutional capacity, the absence of traditions in program-targeted budgeting, high levels of corruption, and a shortage of qualified personnel. Based on the systematization of international experience, a conceptual model of a hybrid budget management system for Ukraine was developed, integrating adapted elements of all basic models and providing for long-term strategic planning over 5–10 years, three-year medium-term planning with scenario-based budgets, decentralized expenditure management, and mechanisms for public engagement and transparency. The proposed model is characterized by phased implementation over 1–10 years, with an expected increase in the efficiency of budget resource utilization, creating preconditions for balancing the short-term needs of crisis response with the long-term objectives of structural development of the economy. The practical significance of this research lies in the potential application of its findings by the State authorities of Ukraine in the development of strategic documents in the field of budget policy, the reform of public expenditure management systems, and the preparation of programs to secure international financial assistance for post-crisis recovery.

Keywords: budgetary financing, targeted development programs, global crises, international experience, institutional capacity, public financial management, program-targeted budgeting, fiscal resilience.

Bibl.: 11.

Biskyi Serhii N. – Postgraduate Student, Department of Accounting and Finance, National Technical University «Kharkiv Polytechnic Institute» (2 Kyrpychova Str., Kharkіv, 61002, Ukraine)
Email: [email protected]

List of references in article

Harchenko I. (2024). Directions of Budget Policy to Ensure the Financial Security of the State. Economics of Systems Development, 1(6), 119–124. https://doi.org/10.32782/2707-8019/2024-1-15
Kanova O. A. (2021). Otsiniuvannia efektyvnosti finansovoi skladovoi realizatsii tsilovykh prohram v Ukraini [Evaluating the effectiveness of the financial component of the implementation of target programs in Ukraine]. Biznes Inform, 8, 134–139. https://doi.org/10.32983/2222-4459-2021-8-134-139
Kentikelenis A. & Stubbs T. (2024). Social protection and the international monetary fund: promise versus performance. Globalization and Health, 41(20). https://doi.org/10.1186/s12992-024-01045-9
Leach-Kemon K., Chou D. & Schneider M. (2012). The global financial crisis has led to a slowdown in growth of funding to improve health in many developing countries. Health Affairs, 1(31), 228–235. https://doi.org/10.1377/hlthaff.2011.1154
Lupenko Yu. O. & Radionov Yu. D. (2021). Napriamy vdoskonalennia systemy upravlinnia derzhavnymy finansamy krainy [Directions for improving the country's public financial management system]. Finansy Ukrainy, 8, 47–67. https://doi.org/10.33763/finukr2021.08.047
McGuire F., Vijayasingham L. & Vassall A. (2019). Financing intersectoral action for health: a systematic review of co-financing models. Globalization and Health, 86(15). https://doi.org/10.1186/s12992-019-0513-7
Mendoza R. (2011). Crises and Inequality: Lessons from the Global Food, Fuel, Financial and Economic Crises of 2008-10. Global Policy, 3(2), 259–271. https://doi.org/10.1111/j.1758-5899.2011.00090.x
Ncube M. (2024). Social Development in Southern Africa in the Wake of COVID-19. Social Work/Maatskaplike Werk, 1(60), 16–37. https://doi.org/10.15270/60-1-1249
Palomo I., Dujardin Y. & Midler E. (2019). Modeling trade-offs across carbon sequestration, biodiversity conservation, and equity in the distribution of global REDD+ funds. Proceedings of the National Academy of Sciences, 45(116), 22645–22650. https://doi.org/10.1073/pnas.1908683116
Tereshchenko H. M. & Kryshchenko K. Ye. (2023). Osoblyvosti zabezpechennia prozorosti ta efektyvnosti biudzhetnoho finansuvannia osvity v umovakh voiennoho stanu [Peculiarities of ensuring transparency and efficiency of budget financing of education under martial law]. Osvitnia analityka Ukrainy, 3, 45–55. https://doi.org/10.32987/2617-8532-2023-3-45-55
Yasir Z. A. (2025). The Impact of Program and Performance Budgeting on the Strategic Allocation of Public Funds and the Achievement of Sustainable Development Goals. Journal of Frontiers in Multidisciplinary Research, 2(6), 60–68. https://doi.org/10.54660/.JFMR.2025.6.2.60-68

FOR AUTHORS

License Contract

Conditions of Publication

Article Requirements

Regulations on Peer-Reviewing

Publication Contract

Current Issue

Frequently asked questions

INFORMATION

The Plan of Scientific Conferences

OUR PARTNERS

Journal «The Problems of Economy»

The site and its metadata are licensed under CC BY-SA.

Write to webmaster