FORMATION OF AN INSTITUTIONAL-STRATEGIC MECHANISM FOR ENSURING THE ECONOMIC SECURITY OF CONSTRUCTION ENTERPRISES

Abstract

The article examines the evolution of fiscal regulation mechanisms in the European Union and analyzes their quasi-normative impact on the formation and implementation of national budgetary policy. It is substantiated that the development of EU fiscal instruments has taken place under conditions of deepening economic integration, financial crises, pandemic shocks, and geopolitical instability, which has led to significant transformations in approaches to budgetary discipline, fiscal policy coordination, and public debt management. The main stages of the formation of the EU fiscal architecture are analyzed, including the Stability and Growth Pact, the European Semester, fiscal rules, and supranational monitoring mechanisms.

Special attention is paid to the quasi-normative nature of EU recommendations, guidelines, and framework rules, which, although lacking direct legal enforceability, exert a substantial influence on national budgetary decisions. It is demonstrated that these instruments create institutional constraints and incentive-based conditions for Member States aimed at ensuring macro-financial stability, reducing budget deficits, and controlling public debt levels.

The study proves that the quasi-normative impact of EU fiscal mechanisms manifests itself through the harmonization of budgetary strategies, adaptation of national legislation, enhancement of budget transparency, and strengthening the accountability of public finance authorities. The main advantages and risks of such influence on national budgetary policy are identified, including the partial limitation of fiscal sovereignty alongside increased resilience and sustainability of public finances. The article concludes that incorporating EU fiscal governance experience is advisable for improving national budgetary policy, particularly for countries pursuing European integration and alignment with EU fiscal standards.