- This learning initiative will include the E-Learning phase (May 15-June 5) and face-to-face workshop (June 13-15) in Ljubljana. We will gather 28 finance officials from line ministries and ministries of finance of 13 SEE countries at this knowledge sharing experience!
- On May 15th we welcome participants at our Online Learning Campus. During next three weeks we will be working together with regional and IMF experts to examine budgeting and planning processes and practices that serve as a basis for adequate EU reporting. cef-see.org/olc
- This learning journey has officially started with the Kick-Off Webinar together with Professor Mojmir: ‘’With this event we want to more systematically address fiscal programming within line ministries, and enhance their cooperation with ministries of finance in national and EU related budgetary decision-making’’
- In UNIT 1 we have introduced the Public Financial Management (PFM), explained key objectives that characterize modern PFM systems, and described how PFM processes are structured around budgeting and planning cycle to ensure that public expenditure is well planned, executed and accounted for.
- Suzanne Flynn, IMF Regional Adviser, explained in her lecture why MTBFs are at the core of PFM reforms in SEE region
- While jointly working on their weekly assignments, participants have identified the key drivers of PFM reforms in SEE region:
> Weak links between policies, available resources, and budget allocations (failure to achieve strategic objectives)
> Annual focus leads to sub optimal choices (unaware of medium-term implications)
> Non-comprehensive budgets (scope of institutions, large reserve funds)
> Taking piecemeal decisions without reference to their overall effects
> Public spending doesn’t produce intended effects (goods and services not delivered as planned, budget executed differs from approved).
..... and proposed initial reforms for their incentivization ...
- ... which we have than discussed with Suzanne during the webinar.
- With joint conclusions we proceeded to the UNIT 2 of E-Learning phase.