Macroeconomic and fiscal planning is a clear, outlined process in Slovakia, which Montenegro aims to enhance within national rules and procedures. Being part of the Public and Private Finance for Development provides an opportunity for Montenegro to significantly improve the outcomes of macroeconomic and fiscal policies, strengthen internal capacities and gain insight into best EU and international practices in PFM.

I am always impressed by the Public Finance for Development team’s commitment to quality and to shared success. They approach the topics not only from a theoretical but also from a practical perspective. They demonstrate a high level of expertise and a passion for what they do. With confidence in the continuation of this successful collaboration, we look forward to working together on future projects and continuing to grow and prosper. UNDP and the Slovak Ministry of Finance are a valuable partner and essential to our success.

Under Public Finance for Development program, we have made significant strides in several key areas. We have enhanced our capacity for increasing public revenues, we have fortified the skills and knowledge of municipal officers in capital budgeting, and we have invested in building technical and human resources capabilities within the Ministry, specifically on designing and implementing Economic Reform Programme, accrual accounting, and implementing measures related to regulatory reform and the enhancement of the business environment. The insights and experiences we gain from Slovakia are of immense value as we plan and execute reforms in the realm of public finances.

Participation in the Public Finance for Development programme strengthened Public Revenue Office’s capacities to introduce international taxation as well as the knowledge in the transfer pricing segment. The expert guidance from the Financial Administration of the Slovak Republic at the organized on-job trainings improved tax officials’ acquaintance of international practices and we learned from Slovak experience in the transfer pricing regulation, conducting financial risk analysis, and transfer pricing audit.

The State Audit Office successfully enhanced the state audit capacities under the Public Finance for Development Programme. We conducted five training courses through which the SAO employees exchanged knowledge and experience with leading international and local experts. They significantly improved state auditors’ skills and capacities and are now applied in ensuring high-quality and transparent audit reports, available to all the stakeholders. Insights transferred by the Slovak experts are particularly significant, due to country’s strategic commitment for EU membership.

We are interested in the systematic control of public spending and identifying potential areas where we can save on low-priority, inefficient or ineffective spending, so that we can use the savings in implementing the necessary reforms. The Ministry of Health and Ministry of Labor and Social Protection benefit from support from Slovak experts in the process of spending review, which at a later stage will be institutionalized and periodically implemented by all public authorities.

With almost two decades of experience in the Ministry of Finance and a history of collaborating on projects with various international institutions, I can confidently and objectively assert that the Public Finance for Development program stands out as one of the most valuable initiatives for our administration. The UNDP project team displayed an exceptional level of comprehension regarding our specific requirements during the design phase. This understanding translated into concrete and quantifiable outcomes, duly recognized by the European Commission.

The Government of Republika Srpska has initiated the development of the 2024-2030 Sustainable Development Strategy, with a strong emphasis on aligning with the Sustainable Development Goals and the Agenda 2030 as well as addressing gender and other types of inequalities. This forward-looking initiative has received invaluable support from the Slovak government and the UNDP in Bosnia and Herzegovina, and we are very grateful for it.

The Development Plan and Mid-Term Plan of local self-governments (LSGs) ensure that measures and activities are planned in a realistic manner to achieve the priority goals of the LSG and the goals of public policies at the national level. It also enables a clear understanding of obligations related to the EU accession process that are implemented at the local level. The assistance received through Public Finance for Development programme is important for the reform of the planning and budgeting system.

In cooperation with UNDP and under the Public Finance for Development programme, the Ministry of Finance of North Macedonia has over the past three years improved its operations in fiscal decentralization and tax policy, transfers from the central budget, audit and accounting, informal economy and cash flow reduction. Together, we conducted a study identifying the leading factors behind the informal economy, followed by an awareness raising campaign on the “grey economy” consequences. The ministry’s staff greatly valued the trainings and study visits, which effectively conveyed Slovakia’s expertise in automatic data exchange for tax purposes.