The Government has approved the action plan for the implementation of the Reform Strategy for Public Finance Management for the period from 2017 till 2020

On May 24, the Government approved the action plan for the implementation of the Reform Strategy for Public Finance Management for the period from 2017 till 2020.

The draft of the action plan had been prepared by the Ministry of Finance jointly with the Team for Reform Support to implement the Strategy regulations approved by the Cabinet of Ministers on February 8, 2017.

The action plan is aimed to determine concrete steps needed for the implementation of the Strategy tasks as well as responsible bodies, timeframes and success indicators.

This document shall be the main tool for the progress monitoring of the reform of public finance management and coordination of the work of all responsible entities.

The action plan contains a set of concrete tasks and steps for the implementation of the Strategy in its key areas:

• maintaining the overall budgetary and tax discipline in the mid-term run;
• enhancing the effectiveness of resources distribution in state policy;
• ensuring the effective state budget execution;
• increasing transparency and accountability in public finance management.

The implementation of the action plan will make it possible to:
• Cut the deficit in the national public management and slow down the growth of the public debt in the mid-term run as well as to keep it at the acceptable level;
• Ensure the consistent budgetary and tax policy;
• Improve the quality of public services and the effectiveness of public investments while using the resources in a more rational way.