The Cabinet of Ministers of Ukraine decided to extend the validity of the Strategy for the Digital Development of the State Finance Management System. The updated document will now be valid until 2030 and should ensure the further implementation of digital changes in the financial system of the state. About this informs press service of the Ministry of Finance.
During 2022-2024, significant results have already been achieved in the field of digitalization of finances. Thus, in 2022, a specialized web portal with detailed information on banks of primary dealers and licensed brokers was created to popularize military bonds of the domestic state loan. In 2024, the Reform Matrix was introduced — a tool for monitoring Ukraine’s fulfillment of its obligations to the EU, international organizations and partners.
The digital development strategy of the SUDF for the period until 2030 defines a set of measures aimed at implementing modern IT solutions to increase the efficiency, transparency and integration of the financial system. It provides:
- optimization of information exchange between state financial institutions;
- reducing costs and improving the administration of budget funds;
- strengthening trust in public finances among the public and international partners by increasing transparency;
- use of digital tools for analysis and forecasting of budget processes;
- minimization of the influence of the human factor on information processing;
- increasing the level of information security in the public finance management system.
It is expected that the result of the implementation of the updated strategy will be IT consolidation of information resources of financial management entities at the level of the Ministry of Finance. This list includes the State Tax Service, the State Customs Service, the State Treasury Service and the State Audit Service.
Management of consolidated resources will be carried out by an independent administrator using cloud technologies. This will make it possible to gradually move to a service-oriented model of providing services and ensure their availability online. The approach is based on the successful experience of EU countries, in particular Poland, Austria and Denmark.
We will remind you that according to the “Champions of Digitization 2024” study, the average digitization index of Ukrainian companies is 56 points out of 100. At the same time, 99% of companies have included digital transformation in their long-term strategies.
