Minister Cheikh Diba has announced significant reforms in budgetary management and public debt following the Court of Auditors’ report. The reforms focus on improving budgetary control, modernizing financial management through digital means, and restructuring debt management departments. Key strategies include enhanced accounting practices, stricter project oversight, and centralization of debt management functions to ensure sustainable public finances.
Following the Court of Auditors’ report, Finance and Budget Minister Cheikh Diba unveiled an ambitious initiative aimed at reforming budget management and public debt. In a recent government briefing, he discussed a comprehensive plan including three key strategies: enhancing budgetary control, modernizing public financial management through digital technology, and restructuring departments involved in debt management, all targeting sustainable public finances and economic sovereignty.
Diba emphasized the necessity for improved quality in accounting and financial reporting. This includes establishing an integrated public finance management system designed to enhance expenditure control and financing accuracy. The aim is to bolster the reliability and accessibility of financial data while ensuring the integrity of public accounts.
A stricter oversight of externally financed projects will be implemented, appointing a dedicated accounting officer for rigorous monitoring of these projects. This measure intends to ensure careful management of financial commitments and necessitates reorganizing the accounting network to accelerate data centralization and enhance treasury management.
The incorporation of critical media will improve accounting operations and financial flow traceability. The public debt management reform will centralize debt negotiation, utilization, and management functions, enabling a streamlined approach to address the challenges posed by fragmented public debt management capabilities.
This comprehensive reform package emphasizes the prioritized modernization of fiscal policies and practices in Senegal, with a clear focus on enhancing fiscal discipline, accountability, and transparency in public financial management.
Minister Cheikh Diba’s proposed reforms target the enhancement of budget management and public debt sustainability. By focusing on digital modernization, stricter project oversight, and centralized debt management, these reforms aim to improve financial accountability, reliability, and transparency in government operations while safeguarding the country’s economic sovereignty.
Original Source: www.senenews.com
