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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Main Author:	World Bank
Format:	Country Financial Accountability Assessment
Language:	English en_US
Published:	Washington, DC 2012
Subjects:	BUDGET CODE BUDGET DISCIPLINE FISCAL FORECASTS POLITICAL EVENTS PUBLIC FINANCIAL MANAGEMENT PUBLIC INVESTMENT PROGRAMS REFORMS SECTOR EXPENDITURE CEILINGS
Online Access:	http://documents.worldbank.org/curated/en/2011/01/16461565/ukraine-public-financial-management-performance-report http://hdl.handle.net/10986/11898

id	okr-10986-11898
recordtype	oai_dc
spelling	okr-10986-118982021-04-23T14:02:58Z Ukraine : Public Financial Management Performance Report World Bank BUDGET CODE BUDGET DISCIPLINE FISCAL FORECASTS POLITICAL EVENTS PUBLIC FINANCIAL MANAGEMENT PUBLIC INVESTMENT PROGRAMS REFORMS SECTOR EXPENDITURE CEILINGS 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. 2012-12-05T18:26:31Z 2012-12-05T18:26:31Z 2012-07 http://documents.worldbank.org/curated/en/2011/01/16461565/ukraine-public-financial-management-performance-report http://hdl.handle.net/10986/11898 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Country Financial Accountability Assessment Economic & Sector Work Europe and Central Asia Ukraine
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	BUDGET CODE BUDGET DISCIPLINE FISCAL FORECASTS POLITICAL EVENTS PUBLIC FINANCIAL MANAGEMENT PUBLIC INVESTMENT PROGRAMS REFORMS SECTOR EXPENDITURE CEILINGS
spellingShingle	BUDGET CODE BUDGET DISCIPLINE FISCAL FORECASTS POLITICAL EVENTS PUBLIC FINANCIAL MANAGEMENT PUBLIC INVESTMENT PROGRAMS REFORMS SECTOR EXPENDITURE CEILINGS World Bank Ukraine : Public Financial Management Performance Report
geographic_facet	Europe and Central Asia Ukraine
description	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.
format	Economic & Sector Work :: Country Financial Accountability Assessment
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Ukraine : Public Financial Management Performance Report
title_short	Ukraine : Public Financial Management Performance Report
title_full	Ukraine : Public Financial Management Performance Report
title_fullStr	Ukraine : Public Financial Management Performance Report
title_full_unstemmed	Ukraine : Public Financial Management Performance Report
title_sort	ukraine : public financial management performance report
publisher	Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2011/01/16461565/ukraine-public-financial-management-performance-report http://hdl.handle.net/10986/11898
_version_	1764418317292929024

Ukraine : Public Financial Management Performance Report

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