EU4PFM supports the Ministry of Finance of Ukraine in the development of a new software system for budget planning and monitoring process

The Minister of Finance of Ukraine Sergii Marchenko recently signed a contract for the development of the new software system, which will automate data exchange between all parties involved in the budget planning, execution, and monitoring processes. 

The software system includes analytical modules that provide decision-makers with swift and on-request data availability. This will reduce the amount of manual processing of information and related errors and time-consuming calculations in the process of collecting and processing budget requests from key spending units. This automation will also decrease the time required to prepare the Budget for the following year. 

The software will also be easily modified to align with changes in legislation and automate almost 60% of MoF’s key functions.

The initiative will contribute to the transformation process in the PFM area in Ukraine such as the introduction of mid-term budget planning and will be instrumental in the evaluation of the execution of the budget programmes, including the assessment of their effectiveness. It is also in line with the IT strategy for Digitalisation in the PFM area in Ukraine, adopted in 2021, which promotes centralised management, consolidation of data and IT systems, and secure data exchange between the PFM institutions. 

As part of the work carried out, the corresponding Technical Specifications for the construction of the IT system for the Ministry of Finance, namely the “State Budget – Ministry of Finance,” and the automated information system for online interaction with key spending units have already been developed. These developments will form the basis for further digitalisation of the budget process.

The software system development services will be delivered by the state enterprise «Open Public Finances» with support from EU4PFM. «Open Public Finances» will perform as an administrator of this IT solution after the development and deployment stage.

This significant step – the start of contract implementation – was made after a complex process of technical requirements development for the software systems through inclusive consultations with all relevant stakeholders.

EU4PFM is proud to contribute to the transformation process in the PFM area in Ukraine!