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Home / On April 3, 2008 a new version of the initial draft law on the budgetary system and budgetary process, developed by the ECORYS Nederland B.V., Netherlands and Corporate Solutions, United Kingdom >>>

On April 3, 2008 a new version of the initial draft law on the budgetary system and budgetary process, developed by the ECORYS Nederland B.V., Netherlands and Corporate Solutions, United Kingdom >>>

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3 April, 2008 - 03:00


On April 3, 2008 a new version of the initial draft law on the budgetary system and budgetary process, developed by the ECORYS Nederland B.V., Netherlands and Corporate Solutions, United Kingdom, was presented within the Public Financial Management Project. Representatives of the Ministry of Finance, Court of Accounts, Financial Control and Revision Service as well as representatives of the World Bank participated at the presentation and further discussions. An important aspect was the inclusion of the State Treasury functions and the provisions on the public internal financial control and internal audit in the new law. The revision of the law is made with the aim of improving budget formulation and execution methodology and developing a public financial management and internal control and audit system. These changes are required for aligning to the European Union requirements, international standards and best practices in the field.