Public finance system of Ukraine needs developing, expert says

Ukraine's public finance system does not differ much from the best world analogues, first deputy head of the Parliament’s committee on budget Oksana Kaletnyk said during the first Ukrainian financial dialogue, ForUm correspondent reports.

However, according to the economist, the system still needs to be developed and expanded. "It needs perfection particularly in management culture, strategic planning experience, ability to compromise and negotiate. The difficulties are largely made up of details: the performance of activities and projects, the shades of understanding of the specific problems by each of the participants," MP said.

The question is whether these participants are ready for the open dialogue, she continued. "The dialogue should be aimed at effective work of the system of financial regulation, at fulfilling the goals set in the area of public finance. If the country’s economy can be really improved through external borrowing, it is important to soberly assess the sources and prospects of the loans, and control the fulfillment of the tasks," the first deputy head of the Parliament’s committee on budget said.