Indicators of budget efficiency reflect the impact of project implementation on revenues and expenditures of the republican and local budgets.
The main indicator of the budget efficiency of the project is the budget effect, which is used to justify the state support measures laid down in the draft. For step t, the fiscal effect B(t) is defined as the difference between the revenues (Dt) and expenditures (Rt) of the respective budget:
Bt = Дт – Рт
The integral budget effect B(int.) is calculated as the excess of integral budget revenues D(int.) over the integral expenditures of the budget P(int.):
B(int.) = D(int.) – P(int.).
The list of budget income items from the implementation of the investment project includes:
tax revenues and rent payments; increasing tax revenues from other enterprises; additional revenues to the budget of income tax from the salaries of employees; revenues to budgetary and extrabudgetary funds (social protection fund and state employment promotion fund), etc.
Budget expenditures related to the implementation of the project include:
funds allocated for direct budget financing of the project; payment of benefits for persons who are unemployed; loans of the National Bank, allocated as borrowed funds, subject to compensation at the expense of the budget, etc.
Economic efficiency reflects the impact of the investment project implementation process on the external environment for the project and takes into account the ratio of results and costs of the investment project, which are not directly related to the financial interests of the project participants and can be quantified.
The choice of an investment project that provides for state support is made on the basis of the maximum integral effect, taking into account commercial, budgetary and economic efficiency.