Proceedings of the International scientific and practical conference ―Oxford 2026: Science and Education Today‖ (May 29-31, 2026) / Publisher website: www.naukainfo.com. - Oxford, United Kingdom, 2026. - 392 p.

42 improve existing tools and methods to improve the budget planning toolkit and its impact on the growth of the dynamics of socio-economic indicators. When implementing budget planning, institutional support is important, which consists in creating appropriate legislative, regulatory, and organizational conditions for the functioning of the entire planning system. The effectiveness of the institutions of the planning system, as well as the economic system, depends on the completeness of the institutions' compliance with modern realities and the needs of society. Organizational and methodological principles are necessary for the preparation of budget requests, the development of a draft budget taking into account the forecast indicators determined by the Ministry of Finance for the next two budget periods. The use of modern methods and techniques of medium-term budget planning allows to raise this tool to a higher quality level, to ensure medium-term balance of budget revenues and expenditures, to form real, scientifically based budget programs with clearly defined priorities for the implementation of socio-economic measures. Such an approach allows to significantly improve the quality of budget draft preparation, to improve the budget process, to evenly distribute appropriations by budget periods, to introduce a system of economic incentives for optimizing budget expenditures. In our opinion, the difference between forecasting and planning is that forecasting allows us to see the goal in the long term, including possible risk and impact factors. Planning is the reality that we see before us, a more specific and predictable phenomenon. If the forecast is a certain probabilistic nature of actions, then planning is an already made decision that brings us closer to the corresponding goal. Forecasting and planning are not antagonists, on the contrary, these concepts complement each other and ensure the continuity of the process of effective and rational use of budgetary resources [2, p.43]. The budget forecasting mechanism in Ukraine needs improvement, in particular, a systematic analysis of assessments of the country's socio-economic development, identification of negative trends, analysis of the causes of their formation, and