Ministry of Finance of the Slovak republic, Štefanovičova 5, 817 82 Bratislava, IČO: 00151742. www.mfsr.sk

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Public Finance for Development programme

The cooperation started in the first half of 2010 within the first Component and the first phase (2010-2011) has been as follows: 

1.  Montenegro

Four areas of assistance were agreed with the aim to strengthen capacities of the Ministry of Finance of Montenegro (MoF Montenegro) in the following areas:

a)  Macroeconomic and fiscal analysis and forecasting

·  Timeframe – First phase started in June 2010 and finished in June 2011. 

·  Results – the recipient Sector for Economic Policy and Development of the MoF Montenegro adopted the proposed organisational structure (the same like the structure of the Financial Policy Institute of the MF SR); other recommendations for improving operations of the Sector were adopted.

b)  Adoption of ESA 95 methodology (methodology for reporting key public finance indicators according to European Union requirements)

·  Timeframe – First phase started in December 2010 and finished in June 2011. 

·  Results – Proposed roadmap for the adoption of ESA95 by Montenegro was accepted by the Sector for Treasury of the MoF Montenegro.

c)  Accounting and reporting

·  Timeframe – First phase started in December 2010 and finished in November 2011.

·  Results – Proposed medium term strategy for transition to accrual accounting by IPSAS[1] was discussed in November 2011 with the Sector for Treasury of the MoF Montenegro.

d)  Debt management

·  Timeframe – First phase started in June 2011 and finished in November 2011. .

·  Results – Proposed action plan for improving debt management functions and developing risk management model will be discussed in November 2011 with the Sector for Treasury of the MoF Montenegro.

 

2.  Moldova

One area of assistance was agreed with the aim to strengthen capacities of the Ministry of Finance of Moldova (MoF Moldova) in the area of scaling up the performance based budgeting (PBB) concept in local governments of Moldova:

·  Timeframe – First phase started in April 2011 and finished in November 2011. 

·  Results

o  Analysis of the current PBB methodology prepared, recommendations for its improvement will be used by MoF Moldova during the planned amendment of the PBB methodology (confirmed by minister´s letter);

o  Assessment of capacities for budgeting was done by consultants in cooperation with UNDP BRC team and was presented in November 2011 in Moldova.

 

3.  Serbia

One area of assistance was proposed with the aim to strengthen capacities of the Ministry of Finance of Serbia (MoF Serbia) in the area of budgeting with particular emphasis on programme budgeting, medium-term budget planning and establishing linkages between strategic planning and budgeting at the national level.

·  Timeframe – First phase started in May 2010 and was ceased by the MoF Serbia due to lack of capacities to manage assistance as well as due to planned elections.

·  Results – Study visit of 5 representatives from the MF Serbia was conducted. The presentations were focused on budget process on central and local government levels, programme budgeting, fiscal decentralisation and the budgetary information system.

 

4.  Ukraine

One area of assistance was proposed with the aim to strengthen public financial management at the local level in Ukraine. Ukraine has at its disposal Programme allocation from the originally approved contribution.

 

Within the Component 3 case studies were prepared in all areas of assistance to share the experience from public finance reforms in Slovakia and provide recommendations to transition countries (lessons learnt). These will be shared with Programme recipient countries and other countries in the region via the Programme website:

Final case studies on Slovakia´s lessons learned have been published on the Programme website: http://publicfinance.undp.sk/en and can be publicly accessed.

 



[1] International Public Sector Accounting Standards

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Ministry of Finance
of the Slovak republic

Štefanovičova 5
P. O. BOX 82
817 82 BRATISLAVA
IČO: 00151742

+421 2 5958 1111
podatelna@mfsr.sk

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