On 8 February, the Cabinet of Ministers approved a new Public Finance Management Strategy for the year 2017-2021 developed by the Ministry of Finance (Presentation on the Strategy).
The goal of the Strategy is building a modern and effective system of public finance management capable of providing quality government services, effectively accumulate resources, and allocate those in strict conformity to the country’s mid- and long-term development priorities. The Strategy is expected to ensure a qualitatively new level of public services and citizens’ engagement to the budget process.
The MFSI-II Project has contributed to the Strategy development, in particular, with regard to improving the Performance Program Budgeting, medium-term budgeting, internal finance audit and increasing budget transparency for citizens. Now the Government faces a challenge to change drastically the approach to budget expenditures. For instance, from now the expenditures should be based on services provided by the institutions, not on their maintaining. To meet goals of the Strategy, MFSI-II will provide the Ministry of Finance and State Audit Service with the methodological support.
Glyanec