The new Ukraine Public Expenditure and Financial Accountability (PEFA) Assessment report for 2019, published by the World Bank and the EU on April 13, testified to the progress made by Ukraine in the field of public finance management.

"The 2019 PEFA Assessment indicates that the government of Ukraine has made progress in the application of International Public Sector Accounting Standards (IPSAS). According to the report, the government improved its macroeconomic and budget forecasting tools, as well as increase transparency in public financial management through introduction of an open budget portal and e-procurement system – ProZorro," according to a press release on the website of the EU Delegation to Ukraine.

The comparison of the 2019 and 2015 PEFA Assessments reveals that many indicators and dimensions have improved, specifically those related to fiscal discipline, the strategic allocation of resources, and the efficient use of resources for service delivery. However, some indicators have deteriorated since the last PEFA. For instance, the time for budget preparation was shortened, and there was a reduction in competitive procurement bidding and fewer payroll audits compared to the previous PEFA," the report says.

"The report demonstrates Ukraine's willingness to further improve the management of its public finances. The EU will continue to support Ukraine's public financial management reform agenda," Ambassador Matti Maasikas, the Head of the Delegation of the European Union to Ukraine, said.

"The assessment was carried out by the World Bank as part of the Parallel European Commission-World Bank Partnership Program for the Reform of Public Administration and Finances (EURoPAF) and closely coordinated with the Ministry of Finance of Ukraine. Development partners from the U.S. Treasury Department and Sweden were part of the Assessment team," according to the document.

"The report presents an up-to-date diagnostic of the national-level public financial management (PFM) performance and describes the changes that have taken place since the previous PEFA Assessment in 2015," it says.