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

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.