[{"bbox": [85, 153, 1146, 352], "category": "Text", "text": "14 thematic reform components, and results indicators to monitor the successful implementation of PFM reforms. The fourteen 14 priority areas considered in the PFM Action Plan are: Revenue and Expenditure forecasting, Domestic Resource Mobilization, Debt Management, Planning and Budget Preparation, Public Investment Management, Public Sector Performance Management, iBAS++/BACs implementation, Pension Management, SoE Governance, Financial Reporting, Strengthening Internal Security and Oversight, Strengthening Parliamentary Oversight & Security of Public Expenditures, Procurement, PFM Reform Leadership and Coordination & Monitoring."}, {"bbox": [85, 365, 1146, 565], "category": "Text", "text": "Overall, the country's continuous and positive engagement in PFM reform has been instrumental in addressing identified weaknesses. Nonetheless, various remedial actions and priorities for reform in PFM continue to lag behind. GoB has embarked on a sequenced programme of reforms including EU supported PFM TA, World Bank supported PfR programme, donor trust fund supported programme, IMF managed SARTTAC, etc. to improve the PFM system. Ministry of finance prepares the PFM Action Plan progress report on a semi-annual basis based on the regular inputs received from the Program Implementation Teams (PITs) of relevant line ministries/agencies and development partners."}, {"bbox": [85, 578, 1146, 664], "category": "Text", "text": "Under the leadership of Ministry of Finance (MoF), Finance division (FD) and related GoB agencies have made significant efforts to reconcile the pfm goals and prioritising the implementation activities to overcome the delays due to the challenges with the COVID-19 pandemic as well as for global economy crisis."}, {"bbox": [85, 676, 1146, 905], "category": "Text", "text": "The ongoing PEFA Assessment is the fourth assessment performed in Bangladesh. In the draft report, an analysis of PFM performance by pillar shows that the pillar \"IV. Policy-based fiscal strategy and budgeting\" has a good performance, the pillars \"VI. Accounting and reporting\" and \"VII. External scrutiny\" and audit have a performance above average and the pillars \"I. Budget reliability\", \"II. Transparency of public finances\" and \"III. Management of assets and liabilities\" show a basic performance. The analysis of the PEFA scores shows that 10 indicators have a score equal to D or D+, 14 indicators have a score equal to C or C+ while 7 indicators have a score equal to B or B+. Analysis by dimension shows a more favourable picture. 39 dimensions have a score equal to A or B and 52 dimensions have a score equal or lower than C."}, {"bbox": [85, 918, 1146, 1147], "category": "Text", "text": "Primary education sector has made good progress in improving public financial management. Together with DPs, MoPME and DPE has taken significant steps in strengthening their respective PFM systems. The Primary Education sector programme adopted a number of fiduciary strengthening measures through a set of agreed disbursement linked indicators (DLIs)/performance indicators of the sector programme, which are in line with the national pfm reform plan. These targets are linked with the roll out and implementation of iBAS++ at the Drawing and Disbursement Offices (DDOs) of DPE (target is 90%), implementation of e-GP for procurement (target is 80%), establish a mechanism for audit resolution (at least 3 tripartite audit meetings), establish internal audit cell and establish reporting mechanism, efficient budget execution(target is 85% of cumulative budget), etc."}, {"bbox": [85, 1160, 1146, 1274], "category": "Text", "text": "A fiduciary review for education sector including TVET sector is ongoing under the EU supported technical assistance. The action will also provide support to selected areas that contribute to mitigate the potential financial and fiduciary risks in the sector, ensuring that PFM capabilities are developed and that control duties and responsibilities are segregated within core line Ministries and executing agencies."}, {"bbox": [85, 1287, 1146, 1343], "category": "Text", "text": "In conclusion, the public finance management reform strategy is sufficiently relevant and credible, including on domestic revenue mobilisation, and the eligibility criterion is met."}, {"bbox": [85, 1374, 553, 1402], "category": "Section-header", "text": "### 2.3.5 Transparency and Oversight of the Budget"}, {"bbox": [85, 1416, 1146, 1587], "category": "Text", "text": "GoB has a relatively good record of accomplishment of publishing budget documents and annual financial statements. The FY 22/23 Budget was published on July 2022 on the MoF website (https://mof.gov.bd/). Although the score of Bangladesh in the Open Budget Index (2021) is 30 out of 100 (it 58 was (much better) on 2012). This deterioration in the ranking of OBI is mainly by failing to publish the Year End Report online in a timely manner due to challenges (like lockdown, restricted movements, etc.) during Pandemic and also the use of manual process in consolidation of data made things difficult to deliver on time during the challenging period of Covid-19."}, {"bbox": [1027, 1681, 1145, 1707], "category": "Page-footer", "text": "Page 10 of 28"}]