The RA Finance Minister Vahe Hovhannisyan participated in the invited discussion on the results of the 2023 evaluation of the Public Expenditure and Financial Accountability (PEFA) of Armenia.
The assessment of public expenditure and financial accountability provides a framework for assessing, reporting and measuring the strengths and weaknesses of public financial management. The PEFA is mainly used to assess the criteria for the provision of budget support by the European Union.
Taking into account that the last assessment of the PFSP in Armenia was done in 2013, the European Union, together with the Asian Development Bank, financed the implementation of a new assessment in 2023.
Preliminary results of this evaluation were presented to donor partners and government officials on November 23. Overall, the evaluation concludes that the PFM system in Armenia remains well established, with effectively functioning institutions and responsibilities. The results of the PFSP will also contribute to the implementation of the process of further reforms in the PFM system in Armenia.
