State and prospects of development of financial decentralization in Ukraine

Abstract

The article analyzes the current problems of the formation of local budgets and systematizes proposals on the prospects of financial decentralization in the context of the need for reforming the power system in Ukraine. The priority directions of the management of public finances are defined: substantiated formation, transparent distribution and redistribution and effective use, which will promote effective management of budgetary funds in the country. It is proved that the improvement of the legal and institutional framework of the system of intergovernmental financing will contribute to the implementation of effective budget reforms.