The Ministry of Finance of Ukraine is a central executive authority governed and coordinated by the Cabinet of Ministers of Ukraine The Ministry is headed by Minister of Finance appointed by the Ukrainian Parliament (Verkhovna Rada) under procedure set by current legislation.
The Ministry of Finance of Ukraine is forming and implementing the financial, budget and tax policy of the State aimed at implementation of activities related to economic and social development of Ukraine, co-ordinates other executive governmental bodies in this sector.
Primary assignments of the Ministry of Finance are:
- forming and ensuring the implementation of financial, budget and tax policy of the State;
- analyzing, in cooperation with other executive authorities, financial and economic situation in Ukraine and the development prospects thereof;
- setting the strategy for the internal and external public debt and servicing and repayment thereof;
- drafting the State budget and consolidated budget of Ukraine projections, ensures pursuant to the existing procedures execution of the State budget, controls conformance of reporting on the State budget of Ukraine and consolidated budget of Ukraine execution to the existing rules;
- concentrating financial resources on priorities of social and economic development of Ukraine;
- implementing activities at raising the efficiency of public finance management, executing within its scope and authority the state financial monitoring;
- improving methodology for financial and budgetary planning, funding, reporting and monitoring system for budgetary funds spending;
- forming and ensuring the implementation of the State’s policy in the area of production, utilization and storage of precious metals, jewels and semiprecious jewels;
- supporting implementation of uniform accounting and reporting methodology (except accounting and reporting in the banks and financial institutions);
- informing the public on the State’s economic and fiscal objectives.