Public Financial Management

Effective systems for the management of public finances are essential to delivering government policy and public services in a predictable, sustainable and transparent manner. Sound arrangements for budget management, internal control and audit, public procurement and external audit ensure the economic, efficient and effective allocation and use of scarce public resources.

Public Financial Management - at a glance

Average indicator values are presented for each area and country. Click on the rows and columns to sort the table by highest value, or “show progress” to include trends over time.

ALB XKV MNE MKD SRB AVG
Medium-term budgetary framework
3
3
2
3
3
2.8
Annual budget preparation
3
3
1
2
3
2.4
Cash management and accounting
3
4
3
4
3
3.4
Debt management
3
4
2
3
3
3
Budget reporting and scrutiny
4
4
3
2
3
3.2
Operational framework for internal control
3
3
2
3
3
2.8
Functioning of internal control
1
1
0
0
1
0.6
Operational framework for internal audit
4
3
4
2
3
3.2
Functioning of internal audit
1
4
3
2
2
2.4
Public procurement legislation
5
3
5
5
4
4.4
Central public procurement institutions
5
4
3
4
4
4
Procurement review system
5
4
4
5
4
4.4
Procurement operations
3
3
1
3
3
2.6
Support to contracting authorities and businesses
3
2
2
2
3
2.4
Independence of supreme audit institution
4
4
4
3
4
3.8
External audit effectiveness
3
3
3
3
5
3.4

Compare performance

Pick a country and year above, and use the menu below to sort indicator values based on best or worst performance. Compare against the regional average, the highest performer and past performance.

Average
Highest Value
2017

Average, 2021

Medium-term budgetary framework Annual budget preparation Cash management and accounting Debt management Budget reporting and scrutiny Operational framework for internal control Functioning of internal control Operational framework for internal audit Functioning of internal audit Public procurement legislation Central public procurement institutions Procurement review system Procurement operations Support to contracting authorities and businesses Independence of supreme audit institution External audit effectiveness

Most significant change

Green bars show the indicator values that advanced most. Red bars shows those that deteriorated most. Only indicator values that have changed are shown.

Average from 2017 to 2021

Quality of legislative framework for public procurement and PPPs/concessions Independence, timeliness and competence of the complaints handling system Transparency and comprehensiveness of budget reporting and scrutiny Central institutional and administrative capacity to develop, implement and monitor public procurement policy effectively and efficiently Adequacy of the operational framework for internal audit Quality of the medium-term budgetary framework Quality of the annual budget process and budget credibility Quality of public debt management Efficiency, non-discrimination, transparency and equal treatment practiced in public procurement operations Effectiveness of the external audit system Reliability of budget execution and accounting practices Adequacy of the operational framework for internal control Functioning of internal control Availability and quality of support to contracting authorities and economic operators to strengthen professionalisation of procurement operations