MANAGEMENT APPROACHES OF BUDGET FORMATION IN THE STATE ECONOMIC POLICY OF THE PERIOD OF EPIDEMIOLOGICAL CRISES

Abstract

During the epidemiological crisis, there are factors that determine the course of the economic crisis, the destructive impact of socio-economic transformations was exacerbated by the adverse effects of foreign economic factors. Relevant changes have taken place in all spheres of public life, from the real sector of the economy to the provision of social services. It should also be borne in mind that with the stability of the general downward trend in economic development, its specific manifestations change almost every year. In this regard, the task of improving the conceptual foundations of socio-economic policy remains relevant today. Economic crisis conditions have been particularly pronounced in emerging market economies, with the crisis revealing a lack of liquidity, financial resources and a high level of dependence on external loans. For all the diversity of crisis phenomena, during their course there are certain general processes, the development of the crisis is usually due to general economic patterns, the cyclical nature of economic development. Certain signs of the approaching economic crisis can be observed for a long time, as well as the approach of epidemiological threats. Such signs include a slowdown in economic growth, an increase in government spending with a growing budget deficit, and an increase in unemployment, often in a latent form. At the same time, the economy circulates a significant money supply, accumulated at the stages of economic growth and stable operation, and in conditions of slowing trade determines the growth of uncertainty in economic processes. Another sign of the approaching crisis is the imbalance of the components of public finances, organizationally separated from the budget. With a high level of uncertainty about the emergence of epidemiological threats, the development of the economic crisis begins. It does not matter where such a destructive event occurs, the consequence will always be the same - the economic system loses stability. From the point of view of the need to prevent crises, scientists consider it appropriate to create barriers to the diffusion of destructive external influences. A significant component of the consequences of the epidemiological crisis is the emergence of destructive feedback between the processes in the real and financial sectors of the economy and budgetary processes.