PUBLIC BUDGET AND GOVERNANCE IN THE CIS: EVIDENCE FROM GEORGIA AND THE REPUBLIC OF MOLDOVA1

Tatiana COVALSCHI Universitatea de Stat din Moldova

Аннотация

The public budget is a basic category of public finance, as a tool at the service of government to rule the economy and society. The budget planning can be seen as a political process of designing the procedures for procuring resources available to the state, subsequently embodied in the structure and size of public spending, while setting economic and social priorities. Budgeting is a central policy area not only for generating and allocating resources; the budget process is also a key to the institutionalization of democracy. Democratic practices open budgeting to the public and their representatives and forces government to consult citizens before taking action. Keywords: public budget, governance, budgeting, medium-term expenditure framework, democratic practices, transparency.