Public Financial Management Reform Strategy 2017-2021 Royal Government of Bhutan
- Aug 2017
- Ministry of Finance, Royal Government of Bhutan
- International
Bhutan has been making exemplary progress in building its public financial management systems to provide fiscal discipline, rational allocation of resources in line with Five-Year Plans (FYP), and to support efficient public service. Externally validated assessments of its PFM in 2010 and 2016, using the Public Expenditure and Financial Accountability (PEFA) methodology which is an internationally accepted standard, show its achievements over the last six years and the strengths and weaknesses of Bhutan’s PFM. Comparison with other countries in the region shows that Bhutan is ahead of the regional average in most areas. However, weaknesses and risks exist in the PFM system.
The PFM Reform Strategy and Action Plan has been designed to consolidate recent reforms, close gaps, improve transparency and accountability, build domestic revenue and integrate or interface several stand-alone systems.
