Armenian Public Financial Management reforms | EUNewsletter

Armenian Public Financial Management reforms

16 September 2010

The second round of reforms of the management of the Armenian Public Finance system was discussed in Yerevan on 16 June. The objective of reforms envisaged during the next ten years, is to enhance the efficiency of managing public expenses. “We support reforms which will not only modernize the public financial system, but, controlling the expenses, will also restrain corruption”, said Raul de Luzenberger, the Head of the EU Delegation to Armenia.
Within the scope of the workshop, participants also discussed the international experience on the PFM system reforms and best practices, including the Public Internal Financial Control (PIFC). PIFC focuses on harmonising the public sector’s internal control system with international standards. This model could be introduced as a new mechanism in the Armenian PIFC system.
Among the participants of the workshop were Prime Minister Tigran Sargsyan, Minister of Finance Tigran Davtyan and Asad Alam, the Country Director of the South Caucasus Countries Department at the World Bank.

Armenian Public Financial Management reforms

The second round of reforms of the management of the Armenian Public Finance system was discussed in Yerevan on 16 June. The objective of reforms envisaged during the next ten years, is to enhance the efficiency of managing public expenses. “We support reforms which will not only modernize the public financial system, but, controlling the expenses, will also restrain corruption”, said Raul de Luzenberger, the Head of the EU Delegation to Armenia. Within the scope of the workshop, participants also discussed the international experience on the PFM system reforms and best practices, including the Public Internal Financial Control (PIFC). PIFC focuses on harmonising the public sector’s internal control system with international standards. This model could be introduced as a new mechanism in the Armenian PIFC system. Among the participants of the workshop were Prime Minister Tigran Sargsyan, Minister of Finance Tigran Davtyan and Asad Alam, the Country Director of the South Caucasus Countries Department at the World Bank.