Govt approves strategy for reforming public finance management system for 2022-2025

"An order 'On the approval of the strategy for reforming the public finance management system for 2022-2025' was adopted at a government meeting on December 29, 2021. The Finance Ministry drew up the updated strategy in cooperation with concerned government agencies, experts and international partners," the statement said.

The strategy envisages further improvement of the public finance management system.

The objectives and measures of the strategy are aimed at improving the functioning of tax and customs systems, improving the reliability of macroeconomic and budgetary forecasts, early detection of fiscal risks and taking measures to avoid or minimize their impact on the budget, ensuring debt sustainability and increasing the effective management of public debt, publicly guaranteed debt and local debt, increasing the predictability and availability of funds to perform public functions, etc.

The implementation of the strategy should result in a more effective public finance management system that, together with the reformed public administration system, will contribute to sustainable socio-economic development, economic competitiveness and dynamic integration of Ukraine into international markets, including the European Single Market.

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