scholarly journals Review of the Public Financial Management Reform Strategy for Pacific Island Countries, 2010-2020

2020 ◽  
Vol 20 (183) ◽  
Author(s):  
Richard Allen ◽  
Majdeline El Rayess ◽  
Laura Doherty ◽  
Priya Goel
Keyword(s):  
Financial Management ◽  
Gender Inequalities ◽  
Pacific Island ◽  
Public Infrastructure ◽  
Management Reform ◽  
The Public ◽  
Slow Pace ◽  
Public Financial Management ◽  
Reform Strategy ◽  
Pacific Island Countries

This paper reviews the Public Financial Management (PFM) reform stategy for 16 Pacific Island Countries (PICs) during the period 2010-2020. The strategy was endorsed by the finance and economic ministers of the region (FEMM) in 2010. The paper analyzes more than 30 PEFA assessments carried out across the region. The region shares the generally slow pace of PFM reform that is also a feature of most developing countries. Some PICs have improved their PFM performance significantly, while others have done less well. PFM reforms have suffered from the small size and low capacity of many PICs, poorly designed PFM roadmaps, variable political suppport for reform, and vulnerability to natural disasters. The paper recommends that in the next five years, there should be a more granular and targeted approch to PEFAs. PICs should focus on basic PFM reforms and (where capacities allow) more transparent public finances, as well as better management of climate change considerations, public infrastructure, gender inequalities, and state-owned enterprises. Perseverance by countries in implementing reforms and leadership by finance ministries are critical. PFTAC’s advice is highly regarded across the region, and it could consider alternative modalities of CD delivery and stronger coordination with other development partners.

scholarly journals The Impact Of Corruption On Economic Development: Case Study Romania

10.26458/1613 ◽  
2016 ◽  
Vol 16 (1) ◽  
pp. 33
Author(s):  
Luminita Ionescu ◽  
Florentin Caloian
Keyword(s):  
Economic Development ◽  
Financial Management ◽  
Cyber Attacks ◽  
Management Reform ◽  
The Public ◽  
Fiscal Transparency ◽  
Public Financial Management ◽  
The Impact ◽  
Geopolitical Risks

In the last decade, Romania implemented a strong legislation and a comprehensive program of public financial management reform in order to improve the national fiscal transparency and to reduce corruption.Corruption is a growing phenomenon all over the world, affecting economic development and aggravated by the legacy of the global economic crisis. The global risks are different from the past due to notably cyber attacks, new economic realities and geopolitical risks. Most of the time, corruption is associated with financial crime, fraud and bribery. Corruption is a major factor of reducing economic development and the governments must increase of macroeconomic and fiscal forecasts in order to facilitate access to the public funds.       

scholarly journals Ukraine

2019 ◽  
Vol 19 (342) ◽  
Author(s):  
Keyword(s):  
Financial Management ◽  
Technical Assistance ◽  
Medium Term ◽  
Major Step ◽  
Management Reform ◽  
Budget Planning ◽  
Public Financial Management ◽  
Reform Strategy ◽  
First Time ◽  
Roll Out

To strengthen the medium-term orientation of the budget, the authorities have committed to implement a full-fledged medium-term budget framework (MTBF) as part of their Public Financial Management Reform Strategy (2017–21). A pilot MTBF exercise was launched for the 2018 budget cycle, which will inform the roll-out of a more complete MTBF in 2019. The development of the MTBF has been supported by several FAD technical assistance missions in recent years, including in April this year. The 2018–20 draft Budget Declaration, submitted to the Cabinet of Ministers on June 1, is a major step forward in terms of establishing a medium-term orientation to budget planning. For the first time, important elements of a MTBF were included in the budget documentation, including the presentation of detailed medium-term macroeconomic and fiscal forecasts and expenditure ceilings for 2018–20.

scholarly journals PUBLIC SECTOR PROPERTY MANAGEMENT REFORM TO ENHANCE THE ECONOMIC DEVELOPMENT: CROATIA AND BOSNIA AND HERZEGOVINA CURRENT STATE AND INTERNATIONAL PERSPECTIVES

2017 ◽  
pp. 436-461
Keyword(s):  
Economic Development ◽  
Public Sector ◽  
Bosnia And Herzegovina ◽  
Asset Management ◽  
Financial Management ◽  
Property Management ◽  
Real Property ◽  
Management Reform ◽  
The Public ◽  
Current State

Property asset management can be defined as the process of decision – making and implementation relating to the acquisition, use, and disposition of real property. This definition applies to both the private and public sectors, even though in the government sector, the term itself was not in common usage until recently. Over last two decades, however, a new discipline has emerged that looks more critically at the important component of public wealth and seeks to apply standards of economic efficiency and effective organizational and resource management. Public sector property management has been regarded as a structured process that seeks to ensure best value for money in serving the strategic public sector needs and enhancing the economic development and competitiveness. There are governments that are only beginning to seek improvements in the management of publicly owned property with a goal of putting into use various types of government asset items, under the supervision of professional management, with a view to ensuring quality public services and welfare to the citizens, governments that have just recently embarked in the long term financial management reforms and strategic public sector property management reform in particular, and governments called “advanced reformers” offering their conceptual and valuable practical experience in the sphere of public property management. Starting from the concept that public authorities have to be fully accountable to the public and that the whole of government assets need and can be effectively managed, and widely accepted thesis that effective government asset management is a very important generator for creating a supportive entrepreneurial environment, and raising the competitiveness of the entire economy, in this paper we analyse the drivers of international property management reforms in the public sector and provide a comment on public sector property management in developed countries and (post) transition countries. Then we analyse the characteristics of commenced public sector property management reform in Croatia which may be considered as challenges ahead of Bosnia and Herzegovina authorities in structuring their national public sector property management reform, given the current state of play.

scholarly journals THE CHALLENGES FOR THE IMPLEMENTATION OF A GENDER-ORIENTED APPROACH TO BUDGETING IN UKRAINE: WHAT CAN BE IMPROVED?

2021 ◽  
Vol 7 (2) ◽  
pp. 101-109
Author(s):  
Anna Karpych ◽  
Nataliia Miedviedkova
Keyword(s):  
Gender Equality ◽  
Gender Stereotypes ◽  
Financial Management ◽  
Public Management ◽  
Primary Data ◽  
The Public ◽  
Secondary Sources ◽  
Public Financial Management ◽  
The Relationship ◽  
Oriented Approach

The purpose of this article is to identify the obstacles which emerge on the way of the implementation of a gender-oriented approach to budgeting in Ukraine and hinder the promotion of this approach within the public financial system as well as to give recommendations on the possible ways to eliminate them from Ukrainian public financial management. Methodology. The article is based on a review of existing academic literature and on the analysis of secondary sources (mainly, government and non-government reports and publications). The results of the research show that the main barriers for the application of a gender-oriented approach to budgeting in Ukraine are, among others, dominance of gender stereotypes, the lack of funds for gender initiatives, insufficient understanding of the relationship between gender equality and public policy, the low level of awareness of civil servants and officials regarding the policy of gender equality. The overview of the best international practices in the integration of gender aspects in budgeting helped authors identify prior tasks for ensuring effectiveness of a gender-oriented approach to budgeting in modern conditions. Based on the obtained findings, the recommendations were provided; they include the measures to reduce gender gaps and suggested methods for modification of a gender-oriented approach to budgeting. Research limitations/implications. The authors did not study the underlying reasons for the emerging problems for the application of a gender-oriented approach to budgeting. Also, the research was based only on the review and analysis of secondary sources, thus, primary data collection techniques were omitted. Practical implications. The findings are likely to be useful for researchers and public sector practitioners both in Ukraine and abroad to gain knowledge on the implementation of a gender-oriented approach to budgeting. The developing countries may investigate the case of Ukraine and prepare for the similar challenges and problems adjusting the practice of implementation of a gender-oriented approach to budgeting according to their conditions and model of public management system. Value/originality. The article contributes to the discussion about the challenges for the effective implementation of a gender-oriented approach to budgeting in order to strengthen the public financial management in modern Ukraine.

scholarly journals FACTORS OF GROWTH OF THE EFFICIENCY OF PUBLIC DEBT MANAGEMENT

2021 ◽  
pp. 5-11
Author(s):  
M. E. Kosov
Keyword(s):  
Public Debt ◽  
Financial Management ◽  
The State ◽  
Debt Management ◽  
Macroeconomic Factors ◽  
The Public ◽  
Correlation And Regression Analysis ◽  
Public Financial Management ◽  
Public Debt Management ◽  
Debt Policy

Public debt is an integral part of public finances of various countries, the process of its management, including formation, maintenance and repayment has a powerful impact on the macroeconomic system of the state. The subject of the study is the public debt of the Russian Federation. The article performs a correlation and regression analysis of factors that have a direct impact on the state of the Russia’s public debt under the conditions of the restrictions caused by the Covid-19 coronavirus infection, as well as the consequences of these restrictions. The paper proposes an econometric model that describes a system of indirect macroeconomic factors that are not directly related to the state’s debt policy, but show the strongest influence on the formation of public debt in modern realities and increase the efficiency of its management, as well as reflect the quality of public financial management in general. The author concludes that the demographic burden and the indicator reflecting the ratio of the budget deficit to the total budget revenue have the greatest impact on the effectiveness of public debt management.

scholarly journals 5.6. QUALITY ASSESSMENT OF FINANCIAL MANAGEMENT IN THE public sector: METHODICAL ASPECTS

2020 ◽  
Author(s):  
Л.И. Ткаченко
Keyword(s):  
Public Finance ◽  
Public Sector ◽  
Quality Assessment ◽  
Financial Management ◽  
Federal Budget ◽  
Operational Efficiency ◽  
The Public ◽  
Public Financial Management ◽  
Methodological Aspects

В статье обоснована актуальность оценки качества управления государственными финансами с целью повышения эффективности их использования. Проанализировано развитие методики оценки качества финансового менеджмента главными администраторами средств федерального бюджета за период с 2008 по 2019 гг. Исследованы методические аспекты определения итоговой оценки качества финансового менеджмента. В частности, проанализирован расчет некоторых показателей операционной эффективности расходов бюджета и дана их интерпретация. Представлен авторский взгляд на расчет и интерпретацию проанализированных показателей. The author in this article substantiates the relevance of assessing the quality of public financial management in order to increase the efficiency of use of public finance. The development of the methodology for assessing the quality of financial management by the chief administrators of the federal budget for the period from 2008 to 2019 is analyzed. Methodological aspects of determining the final assessment of the quality of financial management are investigated. In particular, it analyzes the calculation of some indicators of the operational efficiency of budget expenditures and gives their interpretation. The author's view on the calculation and interpretation of the analyzed indicators is presented.

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