Country Moldova, Ukraine
Project Title Assessment of the Public Finance Management System in Moldova and Ukraine
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Key Topics:

Public Finance Management (PFM), Medium-Term Fiscal Framework, Auditing & Accounting, Legislative Framework


Project Description and Objectives:

The overall objective of the PFM assessment is to contribute to the improvement of the efficiency of the EC funded assistance, by identifying the necessary conditions, in the PFM systems of the partner countries, allowing for an intensified recourse by EC to sector-wide approaches and budget support mechanisms.


The specific objectives of this PFM assessment are:

  • To provide a documented review, based on available information, on the current performance of the public finance management (PFM) systems of the concerned countries, as well as, on the medium term, on the realistic perspectives of improvement of these systems through the design, execution and monitoring of PFM reforms that are or will be gradually implemented by the government; and
  • To draw up recommendations for an EC-funded programme to support those PFM reforms.


Services Provided:

  • Assessment of the PFM situation in the Moldova and Ukraine, including and assessment of the legal framework, revenues, debt management, comprehensiveness of the budget, budget preparation and formulation, budget execution, Medium-Term Fiscal Framework, accounting and reporting, external scrutiny and audit, organisation and capacity for reform;
    On the basis of the assessment, recommendations have been developed for a PFM reform support programme;
  • Development of a PFM reform support programme for Moldova and Ukraine, taking into account all the pertinent aid delivery mechanisms available (TA, twinning, budgetary support, etc.), a multi-annual prospective, similar interventions by other donors or IFIs (in order to ensure coordination in the domain), and develop a proposal for a matrix of PFM reform-related conditionalities.