The World Bank and the European Union have issued a report on the effectiveness of the government financial management in Ukraine, as ForUm correspondent informs.

According to the report, Ukraine gained 2.67 points on the four point scale according to the estimates of government expenditure and financial reporting.

According to the World Bank director in Ukraine, Belarus and Moldova Chimyao Fan, it means that the country has implemented the fundamental government finance management, but there is still a wide range of issues requiring further work. Moreover, Ukraine ranks above 2.53 points among the estimated 114 countries.

Fan added that Ukraine duly fulfills the requirements on monitoring, transparency and predictability of the budget. But at the same time it lags in the budget reliability.

"Ukraine carried out a great progress in reforming the government finance management in the last few years, but a lot of work remain to be done, especially in the investment planning, the issues of reliability of the budget, internal and external audit," the expert said.


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