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Tuesday, February 7, 2023

Finance Ministry Scrutinizes Public Expenditure

HomeAYV NewsFinance Ministry Scrutinizes Public Expenditure

Finance Ministry Scrutinizes Public Expenditure

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According to the Principal Deputy Financial Secretary Ministry of Finance, Matthew Dingie, the workshop looked at public expenditure and financial accountability assessment. He stated that it is an assessment which looks at the management of the economy and public financial management system of a country.

Mr. Dingie maintained that the PEFA report provides a standardized assessment of the public financial management performance, adding that it gives scores across 31 indicators and 94 dimensions.

“PEFA is an international assessment tool for PFM used by developed and developing countries,” Dingie said; adding that it enables them to identify their strengths and weaknesses against global best practices.

Mr. Dingie added that various PEFA assessments were conducted for Sierra Leone in 2007, 2010, 2014 and that the most recent assessment in 2017 allows them to check on their progress over time and highlight challenges.

According to World Bank Country Manager Sheik Sesay, PEFA provides credible and impartial information about the state of PFM systems as they currently stand.

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