THE CONCEPT OF THE BUDGET PROCESS, ITS CHARACTERISTICS AND STAGES

Abstract

The article systematically analyzes the concept of the “budget process,” its essence, features, and stages. It is emphasized that the budget process occupies a central place in the system of state financial management and plays an important role in the effective distribution of state resources and the satisfaction of the socio-economic needs of society. The features of this process are its legality, planning, systematic and phased implementation. The article details the main stages of the budget process – budget planning, execution, and control, as well as the processes of budget approval and consolidated budget formation. At the same time, the role and functions of government bodies in the budget process are analyzed. The article helps to understand the budget process not only theoretically, but also practically.