Socio-Economic Development of Territorial Communities in the Context of Financial Decentralization

Abstract

The deep socio-political crisis in almost all areas of development of modern Ukraine have determined the importance and necessity of implementing the decentralization reform as an effective factor to stabilize the current socioeconomic situation, overcome the financial crisis, regulate the contradictions between power structures at different levels on the principles of efficient allocation of powers and resources, comprehensive responsibility, provision of citizens with all social benefits and improvement of the efficiency of using budgetary funds at all levels of government. Implementing the financial decentralization on the basis of the administrative-territorial reform and a new ideology of public administration in Ukraine creates opportunities for providing comfortable operating conditions and self-development of a selfsufficient community, establishing principles of sustainable socio-economic development, using modern infrastructure, obtaining the necessary highquality services and ensuring a high level of well-being of its own people.

Keywords

• reform of power decentralization
• financial decentralization
• socio-economic development
• territorial communities
• local self-government system
• powers