Minister of Finance Angelovska: Public financial reform is intensified

16th September 2019, Skopje - Public financial reform is being intensified. The new Organic Budget Law is expected for be finalized by the end of 2019. This was underlined at today's Fourth Dialogue for Public Financial Management Reforms in the Ministry of Finance, chaired by Minister of Finance Nina Angelovska.

Public Financial Management Reform Programme has been implemented for a second year in a row. It includes activities aimed at improving the legislation in several main areas: planning and budgeting, public procurement, public internal financial control, public debt management and financial inspection in the public sector. In parallel with the preparation of the regulations, activities are also undertaken for enhancing the capacities of the institutions.

 “Part of the ambitious agenda covered under the reform Programme is also the integrated information system for financial management, which will provide for better monitoring and execution of all phases of public spending of the budget users - starting from procurement until payment. Process is in the final phase of mapping and creating the technical documentation, is expected by the end of 2019 - Angelovska said at the meeting.

The realization of reforms envisaged under the Public Financial Reform Programme was also considered at the meeting. It was also attended by Vice Prime Minister Koco Angusev, Minister of Information Society and Administration Damjan Mancevsjki, Head of Cooperation Section at the EU Delegation Nikola Bertolini, Deputy Minister of Finance Shiret Elezi, Directors of the Public Revenue Office, the State Audit Office, the State Statistical Office, experts, representatives from relevant institutions and the NGOs.

 “This reform is a big challenge our Government undertakes, in order to provide for greater transparency and efficiency of the operations of all budget users. Such ambitious Programme calls for joint efforts, alignment of the views of all stakeholders, comprehensive approach, strong commitment and mutual vision. We stay committed to continuing the implementation of the envisaged activities with even stronger dynamics".  - Minister of Finance Angelovska said.

Except for the planning, the law also provides for improving the monitoring of the budget execution by introducing fiscal rules and establishing Fiscal Council.

In addition, new law is under preparation, which will provide for improving the efficiency and the transparency in managing the public funds by the institutions. It  is a matter of new Law on Public Internal Financial Control.

Head of the Cooperation Section at the EU Delegation, Nikola Bertolini welcomed the dedication and the commitment of the Government to implement the public financial management reform Programme. In addition, the activities aimed at improving the public financial system in the country, were welcomed, i.e. the quality and the accountability in managing the public funds.

It was concluded that the implementation of the public financial management reforms would be coordinated with the public administration reform and that the regular, inclusive and transparent dialogue with all stakeholders would continue.

However, 2018-2021 Public Financial Management Reform Programmeme is the first comprehensive strategy in the field of public financial management. Reforms therein should contribute to realizing the following 7 goals: improving the fiscal framework by enhancing the projecting process, improving the revenue collection at the same time simplifying and improving the services of the competent institutions, enhancing the planning and budgeting process, improving the Budget execution, increasing the transparency, increasing the internal control in the institutions, as well as the external control and the parliamentary oversight.