Budget System Efficiency in the Digital Economy: International Experience and Challenges for Ukraine

Abstract

Digitization of the budget system is a key component of Ukraine's integration into the global economy. This will allow the country to integrate with international financial institutions, attract investment, and increase confidence in the Ukrainian economy on the global stage. To increase Ukraine's transparency, efficiency, and competitiveness, it is necessary to incorporate international experience and adapt it to domestic realities. The introduction of digital technology in the public sector is not just a technological step, but also a strategic necessity for Ukraine's economic development.

Purpose. The aim of the study is to determine the peculiarities of the budget system efficiency in the context of digitalization based on the use of international experience to increase the transparency of budget funds.

Methods. The study used theoretical methods such as analysis, synthesis, induction, deduction, classification, and modeling. Empirical methods included observation, analysis of scientific publications and international researchers.

Results. The results of the study indicate that Ukraine needs to adapt the best international experience in the field of budget systems, taking into account its peculiarities, especially the challenges related to the technological infrastructure, the level of digital literacy of the population, and the particularities of the management system. The key criteria for the effectiveness of budget systems are identified and the role of digital technologies in improving efficiency is studied in detail. International experiences and comparative analysis of the digitization of budget processes with a focus on digital tools in budget management are described. Challenges and prospects for improving budget systems in the context of digitalization are identified.

Conclusions. In conclusion, the authors propose ways to improve the efficiency of budgetary systems in the digital economy, based on international experience. This is to adapt state institutions to modern technological realities, improve financial management, increase transparency, and reduce the risk of corruption using digital technologies and tools.