Minister of Finance of Ukraine Sergii Marchenko and Deputy Director of the Public Institution Central Project Management Agency (CPMA, Republic of Lithuania) Rasa Suraučienė signed a contract to develop a new software system to automate the exchange of data between all participants in the process of budget planning, budgeting, execution, and monitoring.

The development of this software is being implemented within the framework of the Public Finance Management Programme for Ukraine (EU4PFM) project.

The new software will include analytical modules that provide decision-makers with immediate access to data on demand. Communication between participants in the budget process will be done digitally and in real time. This will help reduce the amount of manual processing of information and related calculation errors in the process of collecting and processing budget requests from key spending units.

"Our task is to make the budget process even more accessible and transparent for people. The development of the new IT system is an important step towards modernization, which will further fully digitize the key functions of the Ministry of Finance. The modernization of the data exchange system will reduce the time for processing budget requests and will also speed up the preparation of the budget for the next year," Sergii Marchenko said during the signing ceremony.

As part of the work carried out, experts of the Ministry of Finance of Ukraine and the SPMA have already developed the relevant technical specifications for the construction of the IT system of the Ministry of Finance "State Budget - Ministry of Finance" and the automated information system for online interaction with spending units of the state budget (AIS "GRK-WEB"), which will become the basis for further digitalization of the budget process.

Software development services will be provided by the Open Public Finance State Enterprise with the support of EU4PFM. Open Public Finance will act as the administrator of this IT solution after the development and implementation phase.

The improvement of the relevant systems will contribute to the transformation process in public financial management in Ukraine, in particular in the introduction of medium-term budget planning and evaluation of the implementation and effectiveness of budget programs.