Syrian Arab Republic : Modernization of Public Financial Management
The authorities have made good recent progress in important public financial management (PFM) areas. They have strengthened the overall regulatory framework of the budget process by adopting a new basic finance law, and further deepened budget inte...
| Main Authors: | , , , , , |
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| Format: | Other Financial Sector Study |
| Language: | English en_US |
| Published: |
International Monetary Fund and the World Bank, Washington, DC
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2010/03/16423388/syrian-arab-republic-modernization-public-financial-management-vol-1-1 http://hdl.handle.net/10986/12810 |
| Summary: | The authorities have made good recent
progress in important public financial management (PFM)
areas. They have strengthened the overall regulatory
framework of the budget process by adopting a new basic
finance law, and further deepened budget integration by
transferring the responsibilities for the capital budget
from the State Planning Commission (SPC) to the Ministry of
Finance (MoF). They have also improved the budget
presentation by providing information to parliament for
selected ministries on the base of a simple program
structure.The main purpose of this report is to
assist the authorities in advancing their reform agenda for
modernization of the PFM system. To this end, the report:
Develops an action plan for PFM reform. The plan sets out
specific activities in a selection of reform areas
identified as priorities in discussion with the Minister of
Finance, as well as the suggested timing and possible
requirement of technicalassistance (TA); and
elaborates, in detail, actions that need to be undertaken in
four broad PFM areas as identified in the plan: (i)
medium-term orientation of the budget; (ii) budget
integration reforms; (iii) budgetary treatment of public
economic entities; and (iv) treasury reforms. Key
recommendations of the report include:Prepare a
three-year fiscal forecast and link fiscal projections to an
approved debtsustainability and fiscal strategy
framework; present as part of the budget documentation
information on the revenues and expenditures of the public
economic entities; and progressively strengthen governance
of the sector; gradually extend the use of programs for
presentation purposes in the budget by adding up to five to
six new ministries in 2010, including the MoF and the
ministry of local administration (MoLA); further integrate
the management of the recurrent and capital budgets by the
budget department in the MoF; the reform areas included in
the action plan reflect initial priorities and are not an
assessment of all areas in which the PFM system in Syria
might be improved. Strengthen the government banking
arrangements by introducing a treasury single account (TSA)
system; develop accounting and cash management functions at
the MoF, by establishing accounting and cash management
units in the treasury department; and introduce new budget
classification and chart of accounts (CoA) to be integrated
into a new integrated financial management information
system (GFMIS). |
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