THE ANALYSES OF LATIN AMERICAN COUNTRIES PUBLIC BUDGETS

Abstract

The article analyzes the formation of the public budgets of Latin American countries in the case of Brazil, Ecuador, Chile, Peru, as well as the effectiveness of the implementation of government programs, contributed to the chronic underfunding, financial instability and external debt increase, since in modern conditions, government financing, aimed to achieve results and high parameters of final results must take into consideration target programmes quality development and improvement, their justification, and implimentation assessment indicators. This study reflects budgetary expenditures in Latin American countries, characterizes state and municipal management and it is considered to be one of the conditions for the social well-being through such indicators as the level of budgetary resources provision and the amount of GDP used and produced per capita. The implementation of the budgeting concept,aimed to achieve results is related to the creation of budget expenditure performance monitoring system, core activities results reports of budget planning entities, the transition to a multi-year budget planning. The article offers beneficial cooperation with the Russian Federation as one of the directions for LAC financial situation improvment, based on the similarity of political views on the issues of a multipolar world, the strengthening the national sovereignty and collaboration in the economic and oil and gas spheres, which will contribute to reduce inflation, individual incomes increase. It will help to make national financial systems more resilient to external threats.