The government has approved a roadmap for reforming public investment management aimed at fulfilling the IMF's structural benchmark, the Ministry of Finance said on Monday, UNN reports.
Details
"On December 22, during a government meeting, a draft roadmap for reforming public investment management was approved by a protocol decision. This ensures the fulfillment of the structural beacon provided for in the memorandum of economic and financial policy with the IMF," the Ministry of Finance said.
This roadmap, as stated, is a framework document that has been developed taking into account the recommendations of the World Bank and the IMF, best European practices, as well as the needs for rapid recovery and post-war reconstruction.
The purpose of the roadmap is to formulate the context, vision, basic principles and directions for building an integrated, sustainable and effective public investment management system that ensures the planning of investment projects based on strategic priorities and the medium-term budgetary framework, their selection in accordance with unified and transparent procedures and clear criteria, and their implementation within the planned timeframe and funding.
In particular, the roadmap provides for:
- making decisions on public investment within the framework of strategic and medium-term budget planning and establishing a Strategic Investment Council;
- Extension of public investment management procedures to all investment projects related to reconstruction, restoration and development through a single definition of a public investment project;
- unification of approaches to the evaluation and selection of public investment projects, regardless of sources and mechanisms of financing, and the creation of a single project portfolio to ensure prioritization and access to financing;
- assessment by the Ministry of Finance of the financial sustainability of public investments and strengthening the management of relevant fiscal risks;
. - creating a unified IT ecosystem based on the updated methodological framework for public investment management;
. - building public investment management capacities at the central and local levels.
Subsequently, the Ministry of Finance, with the participation of the Ministry of Economy, the Ministry of Justice, the Ministry of Infrastructure and other stakeholders, was instructed to develop and submit to the Cabinet of Ministers an action plan for the implementation of the roadmap by June 1, 2024.
Zelensky signs bill on investment insurance against war risks22.12.23, 12:10 • [views_27390]