The specifics of the use of budgetary programs as one of the methods of financial and credit export promotion (on the example of the FRG)
The aim of the present article is to make practical recommendations in the sphere of financial and credit export promotion of the Republic of Belarus with the use of budgetary programs. The relevance of the research is stipulated by the fact that the usage of budgetary programs as an instrument of financial and credit export promotion is generally acknowledged by international practice in general as well as by international organizations (OECD, WTO) in particular. To date there is no practical budgetary export promotion program in the Republic of Belarus. National export development program is comprehensive and “frame”, and the direct stimulation is carried out within the framework of regulatory legal acts in the absence of a separate practice-oriented program. The introduction provides an overview of the research of the domestic scientists-economists and practitioners who are involved in the considered sphere of foreign trade policy, the relevance of the research and the necessity of orientation on the budgetary program Hermes cover in Germany as the most successful in international practice are substantiated. There were no previously conducted researches on the use of budgetary programs as an instrument of export promotion in Belarus, what is the scientific novelty of the paper. In the main part it is justified that highly diversified structure of the German exports both in product and country elements is designed to developing the most advanced measures to promote exports. The analysis of Hermes cover in terms of the performance of the role of crisis management tool is carried out. The proportion of the budget expenditure on the management of Hermes cover is compared with the closest numerically and qualitatively expenditure items of the federal budget of Germany. The country analysis of the program is made. The advisability of the usage of some elements of the budgetary export promotion practice in Germany in the conditions of realization of the financial export promotion policies in the Republic of Belarus is justified. The present research can be used by governmental bodies in the developing of the concept of the domestic export promotion using the budgetary program worked out in the future.