The second session of the awareness raising campaign on the implementation of the Public Finance Management Strategy (PFMS) 2023 – 2030, focusing on Public Internal Financial Control, took place on 12 October.
In the opening of the event, State Secretary of the Ministry of Finance Vladimir Arachelov stated that the Public Internal Financial Control is an essential initiative for strengthening responsible and efficient governance in the Republic of Moldova, particularly in the context of Moldova’s EU accession efforts. “Within the framework of the Public Finance Management Strategy 2023 – 2030, the Public Internal Financial Control is a consolidated system, aligned with EU practices, which guarantees efficient management in the public sector and works as a proactive mechanism, identifying and addressing risks before they materialize, thus protecting the financial integrity and performance of public entities,” stated Mr. Arachelov.
Josip Juric, Programme Manager at the EU Delegation to Moldova mentioned the need to have continuous progress in public administration and public finance management: “This is very important because Moldova is a candidate country for EU membership and this year, for the first time, the Commission is going to prepare an Enlargement Package exercise, which will include Moldova and will assess its progress or backsliding on various chapters of the EU Acquis.”
In his turn, the EU High Level Adviser on Customs and Tax Policy, Rosario De Blasio welcomed the presence of key stakeholders: the Court of Accounts and the Association of Internal Auditors of Moldova, noting that in order to have a realistic and feasible Public Finance Management Strategy, their active involvement in the subsequent development of implementing documents per components and policy fields, is crucial.
According to the Moldova-EU Association Agreement, the Republic of Moldova must implement the Public Financial Internal Control system (PIFC) at the national level, in line with internationally recognized methodologies and standards, and EU best practices. In terms of PIFC, the PFMS Strategy 2023-2030 aims at increasing transparency and accountability in public administration; diversifying the ways of citizen participation in the decision-making process; consolidating the government’s capacities to meet international commitments and implement major reforms; and aligning the financial control to the top international standards, thus promoting European integration and raising the country’s score in the global rankings of competitiveness, fight against corruption and transparency.
The event is part of the seven-session awareness raising campaign, which will cover each of the seven components of the PFMS: Macroeconomic analysis and Budgetary framework, Budget development and planning, Budget execution, Accounting and reporting, Public Internal Financial Control, Tax and Customs Policies – Revenue administration, Public Procurement and Transparency in Public Finance.