Annex I. Draft Overview of Fiscal Risks for Inclusion in the Budget Declaration
This is an indicative draft with gaps to be filled in and sections updated by the MoF.
Annex II. Guide for SOE Financial Model
Reports are to be prepared by the designated MoF officials where there is a delay or failure to submit the information required for fiscal risks assessments; where false information is knowingly submitted; or where there is a failure to implement the regulatory measures applicable to fiscal risk management. The head of the MoF or other authorized officials considers and decides on these cases in accordance with specified procedures, imposing a fine on culpable officials. Appeals may be made to the superior manager, but not through the courts.
The FAD report “Strengthening Public Financial Management” of May 2017, suggested responsibilities for undertaking analysis and providing input to the preparation of the fiscal risk statement (see Chapter II, subSection A of that report).
In future the analysis should be extended to cover the State Food and Grain Corporation which, with UAH 42.1 billion in guaranteed debt (mostly external debt), accounts for more around half of the guaranteed debt portfolio of UAH 87.4 billion as well as a number of the coal mining companies, which are experiencing financial difficulties
See in particular the May 2017 report on Strengthening Public Financial Management, July 2017 report on Medium-Term Budget Framework and Fiscal Risk Statement, and December 2017 report on Fiscal Decentralization and Legal Framework for Fiscal Risk Management and Medium-term Budgeting as well as the STX reports from the visits of August 2017, March 2018 and November 2018.