Ukraine is up to position 39 in the international budget transparency rating Open Budget Index

Ukraine have taken position 39 among 115 countries listed in the international budget transparency rating Open Budget Index which is based on the criteria of the biggest network for budget transparency research International Budget Partnership. This was announced at the IBP press conference which was also attended by Oksana Markarova, First Deputy Minister of Finance of Ukraine.

According to the Open Budget Index results in 2017, Ukraine gained 54 points of 100. This is higher than the average global budget transparency level which is equal to 43 out of 100. According to the rating data, our country improved its performance climbing 18 positions higher, which is equal to 14%. In 2015, Ukraine gained 46 points out of 100. This performance demonstrates a positive dynamics resulting from the improved budget process in Ukraine as well as the higher budget transparency achieved through “E-Data”, the project of the Ministry of Finance.

These results of Ukraine can be compared to those of the countries from Eastern Europe, and the achieved ranking is in line with the Ministry’s target to be among top 40 nations with the most transparent state budgets.

According to Oksana Markarova, a few things have been achieved over the last three years. Thus, the complete draft budget examination procedure has been restored due to which the draft state budget has been submitted on time and with all required documents and analytical data for the last two years in a row. Also, budget transparency is significantly improved due to the launch of E-Data which is the largest database on public finance in Ukraine.

“Transparency of the public finance system is a tool which is as crucial for the elimination of corruption and ineffectiveness in the use of public funds as the anti-corruption enforcement or judicial infrastructure which is now being built up in Ukraine. Together with the public, we have achieved an unprecedented transparency by launching the portal spending.gov.ua which is the biggest public finance database in Ukraine. In 2018, we will make one more step towards effectiveness and accountability by creating the portal “Open Budget””, Oksana Markarova said.

For information:

Open Budget Index is the only budget transparency rating worldwide which analyzes the budgets of 115 countries following a unified methodology and is prepared by independent experts every two years.

https://www.internationalbudget.org/open-budget-su...