IMF Staff Country Reports

Ukraine : Technical Assistance Report-Medium-Term Budget Framework and Fiscal Risk Statement

Author/Editor:

International Monetary Fund. Fiscal Affairs Dept.

Publication Date:

November 15, 2019

Electronic Access:

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Summary:

To strengthen the medium-term orientation of the budget, the authorities have committed to implement a full-fledged medium-term budget framework (MTBF) as part of their Public Financial Management Reform Strategy (2017–21). A pilot MTBF exercise was launched for the 2018 budget cycle, which will inform the roll-out of a more complete MTBF in 2019. The development of the MTBF has been supported by several FAD technical assistance missions in recent years, including in April this year. The 2018–20 draft Budget Declaration, submitted to the Cabinet of Ministers on June 1, is a major step forward in terms of establishing a medium-term orientation to budget planning. For the first time, important elements of a MTBF were included in the budget documentation, including the presentation of detailed medium-term macroeconomic and fiscal forecasts and expenditure ceilings for 2018–20.

Series:

Country Report No. 19/342

Subject:

Financial statements Fiscal policy Fiscal space Risk management Social security funds