The role of public procurement in financial law

This article is devoted to the examination of the legal regulation of public procurement, namely state and municipal procurements, as well as procurements carried out by certain types of legal entities, and to the theoretical understanding of the place of public procurement in the science of financial law. The object of the research is the social relations that arise during the procurement procedures carried out by state and municipal bodies, organizations operating under public control, and other entities. The subject of the research is the provisions of regulatory legal acts that govern procurement activities. The article thoroughly discusses the categories of public interests and public finances, which served as criteria for defining the types of procurements that fall within the scope of financial law regulation. Special attention is given to the issue of the role of certain public procurements, specifically those carried out by entities with significant public authority participation in their charter capital, within the system of financial law. This research is based on a methodology that includes methods of analysis, synthesis, induction, deduction, as well as the formal-legal method. As a result of the research, the place of public procurements in the legal system and in the system of financial law was determined. The novelty of the research lies in the fact that based on the understanding of doctrinal positions regarding the subject of financial law and its expanded interpretation, as well as the analysis of norms governing the management of legal entities, the inclusion of procurement activities of organizations that operate under the control of public-law entities into the system of financial legal regulation was justified, which will subsequently allow the development of legal regulation of public procurements in this area to enhance the efficiency of public financial expenditures. Additionally, the circle of entities participating in relations arising from procurement procedures and simultaneously falling within the scope of financial law regulation was outlined.