State regulation of budget investments in the framework of project financing

The importance and relevance of the issue of the effective participation of state authorities in the interbudgetary process, the improvement of the mechanism of interbudgetary relations under the influence of the trend of transformation of state power both vertically and horizontally. The pragmatic side is that the issues of improving the methods of managing budgets and, accordingly, finances are among the most important elements of managing a country, a region, since the problems of the interbudgetary process are so great that it is still impossible to talk about the completion of the formation of an integral system for managing budget flows. In practice, there is insufficient validity of budget indicators, in connection with which recent years have become a period of exacerbation of interbudgetary relations, manifested in increased subjectivism, incomplete and untimely execution of budgets at different levels. One of the reasons for this situation is the sharp disproportions between spending commitments concentrated at the republican and local levels, on the one hand, and available revenue sources, on the other. The purpose of the study is territorial budgets, especially local ones, poorly provided with their own revenue sources, adequate to their spending obligations. This problem is seen as especially acute in the context of the ongoing crisis in the public sector, when there is a decrease in budget revenues, an increase in their debt burden and dependence on higher financial assistance, and a number of other negative consequences. The role of interbudgetary relations in these conditions is especially high. Therefore, the assessment and classification of factors influencing the regulation of interbudgetary relations will allow for the improvement of interbudgetary regulation and its tools.

1. Tokaev K.K. Constructive public dialogue is the basis of stability and prosperity of Kazakhstan // Message of the President to the people of Kazakhstan. Nur-Sultan: Akorda, 2019, 16 p.

2. Yescomb E.R. Public-private partnership: basic principles of financing; per. from English. M.: Alpina Publisher, 2019, 457 p.

3. Engel E., Fischer R.D., Galetovic A. The Economics of Public-Private Partnerships: A Basic Guide. Cambridge University Press, 2014, 192 p.

4. Toksanova A.N., Galieva A.Kh., Abildina A.Sh. Evaluation of the effectiveness of PPP projects in the Republic of Kazakhstan. LAP LAMBERT Academic Publishing, 2019, 324 p.

5. Analysis, evaluation and financing of innovative projects: Textbook / Proskurin VK, 2nd ed., add. and reworked. M.: Vuzovsky textbook, NIC INFRA-M, 2017, 136 p.

6. Tyutyukina E.B. Investments and innovations in the real sector of the Russian economy: state and prospects: monograph / ed. Doctor of Economics, prof. E.B. Tyutyukina. M.: Publishing and Trade Corporation “Dashkov and Co”, 2014, 220 p.

7. Economic political science. Business relations with the state and society / otv. ed. HELL. Bogaturov. M.: Aspect Press, 2017, 240 p.

8. Akintoye A., BeckM. Policy, finance & management for public-private partnerships / A. Akintoye, M. Beck. Published by Blackwell Publishing Ltd, London, 2009, 275 р.

9. Belitskaya A.V. Legal regulation of public-private partnership. M.: Statute, 2012, 191 p.

10. Sazonov V.E. Public-private partnership: civil-legal, administrative-legal and financial-legal aspects. M.: Buki Vedi, 2012, 492 p.

11. Hodge G.A., Greve C. Public-Private Partnerships: An International Performance Review // Public Administration Review, 2007. Vol. 67(3). Р. 545–558.

12. Nikonova I.A. Public-private partnership: foreign experience of project financing. Monograph. M.: KnoRus, 2020, 272 p.