29 October 2019, Skopje – Starting today, the citizens can track the performance of capital investments at each ministry, directorate, agency, i.e. each budget user separately, thus prompting the institutions to improve such performance. New transparency tool has been published on the Ministry of Finance website today, showing how much of the capital expenditures, projected in the Budget, has been executed by each institution – as a percentage and in an absolute amount, as well as how much remains to be executed by the end of the year. 

Minister of Finance, Nina Angelovska, has recently announced this tool, which is aimed at strengthening transparency and discipline of the institutions to implement the projects they have presented when preparing the budget.

– Digital era offers broad room to improve fiscal transparency. In addition to accountability towards the public as regards spending public funds, fiscal transparency also plays the role of a corrector. In fact, should the public detect that certain institution shows performance of capital investments lower than the expected, public opinion can prompt that institution to improve its performance. This toll is of course just one of the many measures to improve the process of budgeting and budget execution. Public Finance Management Program includes number of reforms, among which the Integrated Financial Management Information System, which is to improve the overall process from planning to executing the expenditures, Angelovska said.

This tool, showing the performance of capital investments by institution, will provide for publishing new data on monthly basis on the Ministry of Finance website. You can find it here http://kapitalni-rashodi.finance.gov.mk/.

 

Also available in: Macedonian

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