WB: Belarus improves public access to key fiscal information

Belarus has improved public access to key fiscal information, the head of the World Bank Office in Belarus Young Chul Kim told media while presenting the report on public expenditure and financial accountability (PEFA) in Belarus, BelTA reports. Compared with the report 2009, Belarus achieved good results in such areas as improving public access to key fiscal information, enhancing the transparency of responsibilities and liabilities of taxpayers, the modernization of the legislative framework governing the inter-budgetary relations.

The public expenditure and financial accountability report provides a useful basis to determine the scope of further reforms and to identify priorities, said Young Chul Kim. The report is intended to serve as a source of information necessary for the development of a strategy for reforming the public finance management system, said Deputy Finance Minister Maxim Yermolovich. Concepts will be developed in four areas: medium-term budget planning, cash flow optimization, approximation of national systems of accounting and reporting in the public sector with the international standards, implementation of a new approach to the organization of internal financial control.