Speaking at a Government meeting, the Minister of Finance Oleksandr Danyliuk initiated changes to the Budget Code in order to implement medium-term planning. This is another very important step in the budget reform, which will make it possible to introduce a new efficient mechanism of managing the budget process.
What is the essence of the new initiative? The Government-approved legislative draft “On Amending Section VI ‘Final and Transitional Provisions’ of the Budget Code of Ukraine” has been drafted to enable the transition to medium-term planning. This decision is part of the Public Finance Management System Reform Strategy for 2017-2020 developed by the Ministry of Finance and approved at a recent Cabinet of Ministers meeting.
For more detail, follow this link.
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