NEW EU MEMBERS INTEGRATION PECULIARITIES TO A MULTIPLE FINANCING SYSTEM OF SUSTAINABLE DEVELOPMENT PROGRAMS

Abstract

The current course of all EU regional grouping countries aimed at implementing sustainable development as a fundamental objective of the Europe 2020 strategy has been highlighted in the article. Revitalization programs are considered as a tool for achieving sustainable development goals. The study of revitalization and its programs has been carried out, in the content of which the purpose, norms and process of their implementation at the international and regional level are highlighted. Emphasis is placed on funding as a major tool in the implementation of these programs. The system of financing at all its levels is organized in accordance with the principle of division into fixed assets, which are common to all Member States of the European Union. The financial receipts from the European organizations to the national funds in the period from 2014 to 2020 have been observed. The case study of the new member states of the EU explored the system of practical application of the international and regional model of sustainable development programs. The main investor in the research process is the European Union, namely its main banking structural and investment organizations, which replenish the corresponding funds of national economies by 70- 80% of the total amount, the rest is earmarked for local revenues. The 10 countries of Central and Eastern Europe (CEE) that joined the European Regional Group during the 2004 enlargement, Hungary, Poland, Czech Republic, Slovakia, Slovenia, Lithuania, Latvia, Cyprus, Bulgaria, are illustrative examples. The object of the analytical study was: statistical indicators of sustainable development, divided into seventeen basic goals and the volume of financing of selected countries from structural and investment funds. In the course of the correlation analysis, only a third of the Sustainable Development Goals and their financial revenues were sufficiently correlated. Other factors, such as social, technological, informational, economic, foreign economic and, above all, political, influence the achievement of other sustainable development goals. This again proves the importance of conducting national and regional policies, where particular attention should be paid to revitalization programs.