Lecture 6 The system of public resourses - Vostricov

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Lecture 6 The system of public resourses 1 Economic content of public resorses 2Components of financial recourses 3 Tendencies and trends in evolution of public recourses 1 Economic content of public resources. Resources are the elements of a nation's wealth. They are material, human, financial and informational resources. A particularly important role has financial resources. Financial resources represent all monetary funds needed to achieve certain economic objectives, social objectives or otherwise. The strongest influences on the level of financial resources of the society are the following factors: 1. volume and production structure; 2. prices level; 3. ratio of gross capital formation and consumption. The volume of the society’s financial resources depends, in principle, by two factors: 1. the size of gross domestic product (GDP); 2. The possibility of obtaining external financial resources (loans, donations, etc.). Financial resources of the society or nation include public financial resources. At the same time public financial resources include: • financial resources of the central state administration; • resources of the local state administration; • resources of public enterprise; • resources of state social security. Each component corresponds to a certain structure: 1. Central state administration resources include: a) taxes and fees; b) non- fiscal revenues; c) loans; d) other resource.