On October 9, in Brussels, the second round of the bilateral meeting between Ukraine and the European Commission took place as part of the screening of Ukrainian legislation’s alignment with EU acquis in the area of the Public Finance Management (PFM), as part of the public administration reform process.
The Ministry of Finance of Ukraine was represented by First Deputy Minister Denys Uliutin, as part of the government delegation.
On October 9, the Ministry of Finance delegation, together with representatives from the Directorate-General for Neighbourhood and Enlargement Negotiations (DG Near) of the European Commission, discussed progress in the field of public finance management.
Denys Uliutin detailed the key achievements of the Ministry of Finance in reforming the public finance management.
“In 2001, the reform to transform budget legislation and implement the new Budget Code of Ukraine began. Since then, Ukraine has continuously improved the public finance management, aligning it with best global practices to create conditions for sustainable economic development, attract investment, and join the EU. Today, even in the context of russia’s full-scale invasion and extreme uncertainty, we are returning to best practices in budgetary processes, particularly in key areas such as medium-term budget planning and fiscal risk management at both the central and local levels. In the draft State Budget for 2025, the Ministry of Finance is introducing a new public investment management mechanism, which will help systematize all projects according to recovery and development priorities, especially crucial given extremely limited resources.”
As part of the reforms in public finance management, Ukraine has achieved the following: