Public Financial Management in the South Caucasus | EUNewsletter

Public Financial Management in the South Caucasus

27 September 2017
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On 19 September “Strengthening the Independence, Effectiveness and Transparency of the Armenian External Audit system” project co-funded by the EU and implemented by the GIZ came to an end. A meeting was held to both conclude this project, which ran from 2014-2017, and kick off the new “Public Financial Management in the South Caucasus” programme, which will end in 2020. Armenian Minister of Finance, Vardan Aramyan also attended the meeting.

DSC_8650The EU contributed €880,000 to the project, which aimed at strengthening the independence, effectiveness and transparency of the Armenian External Audit System. The new programme will work towards aligning public finance subsystems in Georgia and Armenia with European and international standards, particularly for results orientation, efficiency and accountability. Specific goals are agreed with partner institutions such as the Armenian National Assembly, the Chamber of Control, the Ministry of Finance, and the State Revenue Committee. The Programme is being supported by the EU under the Action “Strengthening Public Financial Management in Armenia”. The EU will contribute €1,000,000.

DSC_8645The International Aid/Cooperation Officer of the EU Delegation to Armenia, Paulius Strelciunas highlighted Armenia’s achievements in Public Financial Management (PFM) reform: ‘The EU and its partners are supporting Armenia’s long-term political commitment to PFM reform.  We believe that the best results will be achieved when initiatives are country-led and -owned. The EU believes that Government’s engagement with private sector, civil society, and wider societal groups is crucial in increasing credibility for reform; therefore, this project will be one of many positive steps towards its establishment. Armenia has created momentum in strengthening key actors of the public finance system; therefore, this new joint action will not only support the efficiency and transparency of PFM systems in Armenia but will also bring them into line with international best practice and standards’.

DSC_8732“Public Financial Management in the South Caucasus” Programme Director Peter Dineiger presented the results of the first project and outlined the new intervention: ‘“Strengthening the Independence, Effectiveness and Transparency of the Armenian External Audit system” was an interesting project, we had good results. However, there is still much to do. We hope to continue this cooperation in the future to bring about more positive change and concrete results. Expectations of the new “Public Financial Management in the South Caucasus” programme are that we will build on what we have done already: programme budgeting, public internal financial control (including internal audit), and public procurement’.

Public Financial Management in the South Caucasus

On 19 September “Strengthening the Independence, Effectiveness and Transparency of the Armenian External Audit system” project co-funded by the EU and implemented by the GIZ came to an end. A meeting was held to both conclude this project, which ran from 2014-2017, and kick off the new “Public Financial Management in the South Caucasus” programme, which will end in 2020. Armenian Minister of Finance, Vardan Aramyan also attended the meeting.

DSC_8650The EU contributed €880,000 to the project, which aimed at strengthening the independence, effectiveness and transparency of the Armenian External Audit System. The new programme will work towards aligning public finance subsystems in Georgia and Armenia with European and international standards, particularly for results orientation, efficiency and accountability. Specific goals are agreed with partner institutions such as the Armenian National Assembly, the Chamber of Control, the Ministry of Finance, and the State Revenue Committee. The Programme is being supported by the EU under the Action “Strengthening Public Financial Management in Armenia”. The EU will contribute €1,000,000.

DSC_8645The International Aid/Cooperation Officer of the EU Delegation to Armenia, Paulius Strelciunas highlighted Armenia’s achievements in Public Financial Management (PFM) reform: 'The EU and its partners are supporting Armenia’s long-term political commitment to PFM reform.  We believe that the best results will be achieved when initiatives are country-led and -owned. The EU believes that Government’s engagement with private sector, civil society, and wider societal groups is crucial in increasing credibility for reform; therefore, this project will be one of many positive steps towards its establishment. Armenia has created momentum in strengthening key actors of the public finance system; therefore, this new joint action will not only support the efficiency and transparency of PFM systems in Armenia but will also bring them into line with international best practice and standards'.

DSC_8732“Public Financial Management in the South Caucasus” Programme Director Peter Dineiger presented the results of the first project and outlined the new intervention: '“Strengthening the Independence, Effectiveness and Transparency of the Armenian External Audit system” was an interesting project, we had good results. However, there is still much to do. We hope to continue this cooperation in the future to bring about more positive change and concrete results. Expectations of the new “Public Financial Management in the South Caucasus” programme are that we will build on what we have done already: programme budgeting, public internal financial control (including internal audit), and public procurement'.