Ukraine : Technical Assistance Report-Strengthening Budget Formulation and Fiscal Risk Management.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. Fiscal Affairs Dept.

Series:

IMF Staff Country Reports; Country Report ; No. 2019/360

IMF Staff Country Reports

Language:

English

Physical Description:

1 online resource (48 pages)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2019.

Summary:

This Technical Assistance Paper on Ukraine discusses that implementing strategic planning and a medium-term budget framework (MTBF) is a core component of Ukraine’s Public Financial Management (PFM) reform strategy. A pilot MTBF conducted in 2017 formed the basis for amendments to the Budget Code in December 2018, which firmly establish a MTBF as the basis for budget preparation. The amendments also establish a legal basis for related reforms, including regular spending reviews and monitoring and managing risks to public finances. The report also highlights that a central margin should also be established to accommodate budget volatility and meet the costs of genuinely urgent, unavoidable and unforeseeable expenditure pressures that may arise. In order to reinforce spending discipline, the margin should be tightly controlled, centrally managed and transparently reported. Strategic planning should also be improved to provide a stronger basis for integrated policymaking, strategizing, planning and budgeting. Creating a robust strategic planning system would assist in this regard.

Contents:

Cover

CONTENTS

ABBREVIATIONS AND ACRONYMS

PREFACE

EXECUTIVE SUMMARY

I. STRENGTHENING BUDGET FORMULATION

A. Progress to Date

B. Enhancing the Budget Process and Calendar

C. Content of Budget Submissions

D. Considerations for Roll-Out to Local Governments

E. Budget Declaration

F. Recommendations

II. SUPPORTING AN EFFECTIVE MTBF

A. Design of the MTBF

B. Linking Planning, Performance Evaluation, and the MTBF

C. Recommendations

III. ENHANCING FISCAL RISK ANALYSIS AND DISCLOSURE

B. Enhancing Fiscal Risk Analysis and Management

C. Improving the Fiscal Risk Disclosure

D. Recommendations

BOXES

1.1. Potential Definitions for Strategic Budgeting Concepts

1.2. Reconciling Between Different MTBF Vintages

2.1. Considerations in Designing Medium-term Expenditure Limits

3.1 Developing Mitigating Measures for SOEs

TABLES

0.1. Summary of Recommendations

1.1. Simplified Budget Timeline for 2019 (2020–22 Budget)

2.1. Different Approaches to Managing Uncertainty Generated by AI.

Notes:

Description based on publisher supplied metadata and other sources.

Part of the metadata in this record was created by AI, based on the text of the resource.

ISBN:

9781513521725

1513521721

9781513521732

151352173X

OCLC:

1140062447