17:24 16.12.2016

Finance ministry seeks to target deficit of national budget, open budget requests

2 min read
Finance ministry seeks to target deficit of national budget, open budget requests

Ukraine's Finance Ministry seeks to continue introducing the medium-term budget planning and enhance the role of the gender-oriented approach in the budget reform, First Deputy Minister Oksana Markarova has said.

"There are many quick and specific changes in the budget process. This is not good. We must think now for the outlook of three years, and even more than three years. We must determine the clear goals now and clearly stick to them in the budget policy, even when we speak about new initiatives," she said at a roundtable on Friday.

Markarova said that the targeting of the budget deficit, toughening of budget discipline, stepping up of effectiveness of budget expenditure is foreseen.

It is proposed to introduce a budget declaration for three years that would contain the upper limits for expenditure and increase responsibility for ultimate decision-makers on budget funds.

"What is new that we are introducing: the upper limits for expenditure for each ultimate decision-maker in the declaration. These are limits one cannot exceed when drawing up the budget and later they could be specified," she said.

It is planned to introduce public reports on spending under budget-funded programs and achieving the goals. The key information about budget-funded programs and budget requests will be made public.

Markarova said that not efficient information about the assessment of the cost of sector reforms, the absence of medium-term sector plans and inconstancy of budget priorities are among obstacles hindering the implementation of the above-mentioned plans.

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