CHAPTER 6. EFFICIENCY OF USE OF PUBLIC FUNDS AS AXIOLOGICAL BASIS OF STATE REGULATORY POLICY

The study is devoted to the disclosure of the concept and signs of the effectiveness of the use of public funds as one of the axiological foundations of the state regulatory policy. The main point in the implementation of this policy is the formation of a balanced internal state regulatory policy that has a direct impact on the economic security and stability of the state, its position in the international community. It has been established that such a policy should be based on the optimal combination of private law and public interests, as well as taking into account both international and national economic development priorities. The greatest efficiency in the use of public funds is achieved through a system of legal means that allow not only to ensure the economical use of such funds, optimize the structure of budget revenues, but also form a stable economy of a socially oriented type. The interrelation between the mechanism of using public funds and the formation of state policy in the sphere of regulation of economic relations has been clarified. The author defines the concept and criteria for the effectiveness of the use of public funds in the process of implementing state regulatory policy. The legal foundations for ensuring the effective use of public funds are investigated, and ways to improve the relevant legislation are determined. It is concluded that the effective use of public funds in the process of implementing state regulatory policy means: 1) the transparency of the activities of the subjects of power in the use of public funds, that is, the openness and availability of information about the sources and volumes of formation of the revenue part of budgets and the direction of the direction of budget funds; 2) such use of public funds that ensures full financing of expenditures planned in the expenditure side of budgets; 3) achievement as a result of the use of public funds of a high economic and social effect; 4) ensuring, when using public funds, an optimal combination of state and public interests; 5) creation, through the implementation of financing of various measures at the expense of public funds, conditions for comprehensive socio-economic development in the state and its individual regions. The types of legal liability for violation of legislation in the field of use of public funds are characterized. Particular attention is paid to the analysis of the experience of foreign countries in the field of ensuring the effective use of public funds in the process of implementing state regulatory policy. Based on the study, the author formulated criteria for the effectiveness of the use of public funds in the process of state regulation of economic relations.