Ukraine : Public Financial Management Performance Report
Improvements to the Public Financial Management (PFM) systems in Ukraine, introduced over the last decade, have contributed to improved fiscal management at an aggregate level and helped Ukraine to maintain budget discipline during a period of seri...
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| Format: | Country Financial Accountability Assessment |
| Language: | English en_US |
| Published: |
Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2011/01/16461565/ukraine-public-financial-management-performance-report http://hdl.handle.net/10986/11898 |
| Summary: | Improvements to the Public Financial
Management (PFM) systems in Ukraine, introduced over the
last decade, have contributed to improved fiscal management
at an aggregate level and helped Ukraine to maintain budget
discipline during a period of serious economic and political
disturbance in 2008-9. A well established and transparent
budget process, a strong centralized Treasury system and
improved tax collection provided the foundations for this
relatively good performance. Ukraine has a well established
budget process that allows for orderly consultations with
line ministries and with the legislature. Political events
that took place during the period under review resulted in a
significant delay in legislative approval of the budget in
2010 that accounts for the lower score compared to 2005. In
2011 budget preparation is back on track. The 2010 budget
code which came into effect in the current financial year
promises some further strengthening of the links between
policy and the budget. Previously government prepared medium
term fiscal forecasts, but these did not translate into
medium term allocations for programs or ministries and so
had little influence on annual budgets. The 2010 Budget Code
brings about important improvements, with the introduction
of sector expenditure ceilings and a medium term perspective
for long term public investment programs. The 2011 Public
Expenditure and Financial Accountability (PEFA) assessment
is intended to assess changes in PFM system performance
between FY 2005 and FY 2010, and to inform the future
direction of Government's public finance management
reform program. More specifically, this report: (i) provides
an updated overview of PFM performance using the PEFA
performance measurement framework; (ii) establishes and
explains changes in performance compared to the results
found during the previous assessment; (iii) reviews
Ukraine's PFM performance relative to other counties
and related benchmarks; and (iv) assesses the impact of the
findings and their implications for the ongoing reform
program of the Government. |
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