Ministry of Economic Development and Trade of Ukraine initiates amending the Procedure for the development of forecast, program documents and the budget specified in the Resolution of the Cabinet of Ministers of Ukraine No. 621 "On the Development of Forecast and Program Documents of Economic and Social Development and Drafting the State Budget".
"Our goal is to practically introduce medium-term budgeting and planning of the activities of the main budget holders. And also the formation medium term strategy with the definition of the main goals, tasks, indicators of their achievement and coordination with the possibilities of the budget resource. These changes will have a positive effect for both the business and the public sector, as they will create a more predictable business environment and will ensure efficient use of budget funds in order to achieve strategic goals," First Deputy Prime Minister/Minister of Economic Development and Trade of Ukraine Stepan Kubiv stressed.
The Ministry of Economic Development and Trade is responsible for developing a forecast of economic and social development of the country. Based on the data of this forecast, the State Budget and other program documents are being formed in the future.
The budget declaration that will contain the information budget expenditures items will be based on a coherent system of mutually agreed detailed forecast calculations after the adoption of amendments to the Procedure for the development of forecast, program documents and budget, which has more than 400 indicators presented in the forecast for 3 years. In the process of budget planning, it will replace the main directions of fiscal policy, which are currently defined for the period of 1 year based on the forecast of 7 macroeconomic indicators.
The budget requests from the main budget holders will be formed according to budget declaration.
Amendments to the Procedure for the Development of Forecast, Program Documents and Budget initiated by the Ministry of Economic Development and Trade will bring its norms in line with the norms of the Law of Ukraine "On State Forecasting and Development of Programs of Economic and Social Development of Ukraine" (with amendments), as well as to the already developed practice in the field of forecasting and planning . The latter also will unify the approaches to the development of state and regional forecast and program documentю