On April 26, Deputy Minister of Finance Sergiy Marchenko attended the meeting of the Coordination Council of EU countries in Brussels which discussed the reform of public finance management in Ukraine.
During the meeting, Sergiy Marchenko presented the Public Finance Management Strategy for the period from 2017 till 2020 which was prepared by the Ministry of Finance and approved by the Government in the beginning of February 2017.
The aim of the Strategy is to build up a modern and effective public finance management system ensuring proper public services, effective accumulation of resources and their distribution in line with the development priorities of the country.
The Deputy Minister of Finance said during the presentation that the complex implementation of the Strategy can contribute to the sustainable economic growth of Ukraine, higher quality of public services as well as catalyze reforms in other areas.
The Public Finance Management Strategy covers the following key areas:
- compliance with the overall budget and tax discipline;
- increasing the effectiveness of resources distribution;
- ensuring the effective execution of the state budget;
- increasing the transparency and accountability in public finance management.
During the meeting the parties also discussed the current status of the public finance management reform in Ukraine and challenges confronting Ukraine in this area for the coming years.
Peter Wagner, the Head of the Support Group, also emphasized the progress of Ukraine in implementing strategic planning and increasing the effectiveness of the distribution of financial resources in Ukraine.