Finance Minister Martin Helme discussed the development of the financial management of Estonia with the experts of the Organisation for Economic Co-operation and Development (OECD) on Friday.
The European Commission funds two projects for the development of the financial management of the Estonian public sector from the Structural Reform Support Programme: improving the capacity for implementation of spending reviews and conducting an IT analysis of financial management. Both projects are carried out with the assistance of OECD experts.
The Government decided to launch a thorough revision of the state budget at the cabinet session held on 25 July 2019. The preparation of spending reviews is one of the activities of budget revision. The analyses will be conducted in cooperation of the area of government of different ministries.
“We want to strengthen the financial management of Estonia with these two projects,” said Finance Minister Martin Helme. “The meeting focused on increasing the capacity of implementation of spending reviews and their more extensive application upon the preparation of the state budget. We want to have the capacity to critically assess state budget expenditure to a significant extent and receive proposals on how to use the money of taxpayers better than before. We hope that the OECD experts will advise us how to organise this in the most efficient manner.”
“Regular spending reviews must help us find additional sources of revenue and reduce expenditure by leaving some things undone or reallocating funds in or between areas. This will allow more funds to be allocated to the implementation of the government’s priorities,” said the Finance Minister.
The OECD delegation will be in Estonia from 26 to 30 August to collect direct input from important target groups for increasing the capacity for conducting spending reviews. The project will last until the end of 2020. The mission has included meetings with the prime minister, the Finance and State Budget Control Select Committee of the Riigikogu, the Strategy Unit of the Government Office, the National Audit Office and the Ministry of Economic Affairs and Communications.
Helmes will help carry out the IT analysis of financial management.