Government-by-Government Assessments: Ukraine
During the review period, the government made its budget and information on debt obligations widely and easily accessible to the general public, including online. Budget documents provided a substantially complete picture of the government’s planned expenditures and revenue streams. However, the government maintained off-budget accounts, including three social insurance funds, which have yet to be independently audited. While the supreme audit institution lacked independence that met international standards, it did review the government’s accounts and make its report publicly available within a reasonable period of time. The process for awarding natural resource extraction licenses and contracts is specified in law but require reform to be effective and are not always followed in practice. Basic information on natural resource extraction awards was publicly available. Ukraine’s fiscal transparency would be improved by:
- ensuring the supreme audit institution meets international standards;
- subjecting off-budget accounts to public oversight;
- specifying fully in law or regulation the criteria and procedures for awarding natural resource extraction contracts; and
- following applicable laws and regulations in practice.