Public Financial Management ( Pfm ) Of Developing Countries

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Introduction Public financial management (PFM) of developing countries has recently being focused with the recognition of the various issues it holds. The reasons are 1. Cumulative deficit, payment delay, operational corruption, and other fiscal problems. 2. Increase of General budget support and the need of increasing accountability of receiving countries to reduce fiduciary risk. 3. Generalising of New Public Management. Due to the three reasons above, especially to deal with the fiduciary risk, various evaluation method had been created since 1997 (Ueno 2009). This essay focuses on Myanmar’s PFM where massive political and economic change occurred due to the election in 2010, and analyses its effectiveness and attainment along with the budget cycle using PEFA Public Financial Assessment Performance Report (PFA-PA) which is the first comprehensive PFM assessment in Myanmar. Then it argues the alternative measures to improve the cycle and involvement with the external factors. Cross-cutting features, Comprehensive Transparency PFM system in Myanmar has various problems in every phases of budgeting cycle, (planning, executing, accounting, and auditing). But before looking at each phases, several cross cutting features among this budget cycle would be observed first. In budgeting cycle, there are quite a few issues applicable for all the phases. One issue is that the budget categorization. In Myanmar, they have used their own categorization of budget which is not fully

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