It is time to improve the mechanisms of Union State budget generation and execution

In view of the fact that the Agreement on Management of Union State Property has come into effect, now it is necessary to improve the mechanisms of Union State budgeting and budget execution. Such a statement was made at the meeting of the Parliamentary Assembly Committee for Budget and Finance which took place in Minsk on February 18th 2010.

In view of the fact that the Agreement on Management of Union State Property has come into effect, now it is necessary to improve the mechanisms of Union State budgeting and budget execution. Such a statement was made at the meeting of the Parliamentary Assembly Committee for Budget and Finance which took place in Minsk on February 18^th 2010.

The participants of the meeting came to the conclusion that the long-felt need which is to define the powers of the participants of the budget process in the Union State should be finally fulfilled. Moreover, it remains necessary to define the powers of the Standing Committee as a financial body of the Union State. It is the Standing Committee which should be in charge of Union State budgeting, drawing up and keeping consolidated budget revenue and expenditure, organization of Union State budget execution.

Furthermore, it is reasonable to specify the powers of the state customer and the main administrator of the Union State budget as well as their responsibility for implementation of Union State programmes and events; define types of income from Union State property.

In order to generate and execute Union State budget it is also necessary to eliminate contradictions between articles and correct inaccuracies which were revealed during implementation of the budget process.

It is expected that this issue will be soon brought up at the meeting of Union State bodies.