The Ministry of Finance is the specialised central public administration body to develop and promote the state's public finance policy. As the main public finance supervisor, the Ministry of Finance ensures the regulation and implementation of Public Finance Management policies.
The Ministry of Finance is the specialised central public administration body responsible for the development of predictable, sustainable and sound policies in the area of Public Finance Management by promoting budgetary transparency, in close cooperation with the business community and other representative interest groups, in order to ensure a balance between the objectives and the resources available.
The activity of the Ministry of Finance is primarily focused on reaching an optimal level in the economic development of society. Therefore, the relationship with its own staff, partners and civil society is the key component in the successful exercise of its mandate.
The Ministry of Finance aims to be reliable, correct, transparent and rational․
The main areas of activity of the Ministry are: budget, accounting, audit, procurement, tax and customs policies, as well as their administration.
In order to achieve its objectives, the Ministry of Finance elaborates necessary set of rules and regulations governing the budgetary process, tax and accounting systems, prepares medium and long-term fiscal forecasts and guides the public financial reform process.
In carrying out its functions, the Ministry:
- Drafts the annual budget law and, when necessary, drafts laws for amending and supplementing the annual budget and performs the execution of the State Budget;
- Contracts and guarantees loans in the domestic and foreign financial markets, manages and monitors the domestic and foreign public debt;
- Takes part in the formulation of the state tax and customs policies, evaluation of investment proposals financed from both the State Budget and external sources;
- Negotiates and concludes bilateral and multilateral loan and grant agreements, as well as agreements to avoid double taxation and combat tax evasion.