European Union External Action

EU set to provide EUR 55 mn to support Public Finance Management reform in Ukraine in 2018-20 (EU4PFM)

14/12/2017 - 09:30
Legal Bases / Legislation

On 16 November 2017, the European Commission adopted an Implementing Decision on the Special Measure 2017 II for Ukraine. One of the key priorities of this decision is Public Finance Management Support Programme for Ukraine (EU4PFM) of EUR 55 m.

Public finance management (PFM) is a priority area for the EU – Ukraine relations. Strong PFM systems are essential for sound management of taxpayers’ money and for effective and sustainable economic management, trade and business climate, and public service delivery. The proposed EU assistance programme on PFM will provide a major impetus to the implementation of the Government Public Finance Management (PFM) strategy and PFM reform action plan.

In line with Ukraine's commitments under the EU-Ukraine Association Agreement and the International Monetary Fund (IMF) programme, the following reform areas for the EU support programme in the area of public finance have been identified: (i) budget process, accounting, control and accountability, (ii) efficient budget spending, (iii) revenue mobilisation (tax and customs administration) and Financial Investigation Service, and (iv) horizontal institutional capacity building for PFM.

Editorial Sections: