[{"bbox": [96, 151, 1131, 206], "category": "Text", "text": "comparison of 2020/2021 performance with in the PEFA of 2014 shows that 10 indicators have improved, 5 declined, and 13 stayed the same signifying commendable performance."}, {"bbox": [96, 233, 1131, 365], "category": "Text", "text": "However, despite the observed progress, the PEFA assessment 2021/2022 also identified some weaknesses, which are being addressed in the PFM Action Plan. The 2022-2024 PFM Action Plan provides a structured approach to address the identified weaknesses and monitor continued reform progress over time. Based on the Greenland 2021/2022 Agile PEFA assessment the following six main areas have been identified to be included in the PFM Action Plan 2022-2024:"}, {"bbox": [134, 398, 783, 423], "category": "List-item", "text": "* Presentation format of the draft fiscal bill and the fiscal bill (PI-05)"}, {"bbox": [134, 427, 696, 452], "category": "List-item", "text": "* Sector planning, sector budgeting and monitoring (PI-08)"}, {"bbox": [134, 455, 427, 480], "category": "List-item", "text": "* Fiscal risk reporting (PI-10)"}, {"bbox": [134, 484, 361, 508], "category": "List-item", "text": "* Procurement (PI-24)"}, {"bbox": [134, 512, 372, 536], "category": "List-item", "text": "* Internal Audit (PI-26)"}, {"bbox": [134, 540, 808, 565], "category": "List-item", "text": "* Cross-cutting improvements in ERP underpinning of the PFM system"}, {"bbox": [96, 594, 1131, 648], "category": "Text", "text": "The on-going PFM Action Plan provides a structured approach to monitor reform progress over time according to the following framework:"}, {"bbox": [134, 679, 1131, 758], "category": "List-item", "text": "* Follow-up is done informally on a regular basis by the implementing entities and in the form of presentations at the six-monthly Policy Dialogue meetings with the European Commission, and formally through the annual progress reporting;"}, {"bbox": [134, 761, 1131, 840], "category": "List-item", "text": "* The PFM Action Plan has political buy-in, and it is well-understood among politicians (and within the administration) that satisfactory progress in developing PFM. The Ministry of Finance (MoF) and its underlying agencies are all supportive of the PFM reform process."}, {"bbox": [96, 869, 1131, 1001], "category": "Text", "text": "As proposed in the PFM Action Plan the GoG has established a PFM Reform Steering Committee and a working group to prepare and manage a detailed masterplan following the outline of the PFM reform document. As per most recent PFM progress update (May 2022) the following eight targets under the six areas of the PFM Action Plan 2022-2024 were met, cf. table on targets and achievements below. A total of 4 out 8 targets were met making a 50% achievement as per May 2022."}, {"bbox": [96, 1019, 1009, 1308], "category": "Table", "text": "<table><thead><tr><th>Area</th><th>Focus areas for improvement</th><th>Targets Met/Total #</th></tr></thead><tbody><tr><td>PI-05</td><td>Macroeconomic and macro fiscal-context in the draft to the Finance Act</td><td>1/1</td></tr><tr><td>PI-08</td><td>Sector planning, sector budgeting and monitoring</td><td>0/1</td></tr><tr><td>PI-10</td><td>Fiscal risk reporting</td><td>0/1</td></tr><tr><td>PI-24</td><td>Procurement management</td><td>2/2</td></tr><tr><td>PI-26</td><td>Internal Audit</td><td>1/2</td></tr><tr><td>Overall</td><td>Cross-cutting improvements in the ERP system</td><td>1/1</td></tr></tbody></table>"}, {"bbox": [198, 1310, 339, 1333], "category": "Text", "text": "Result in total"}, {"bbox": [884, 1310, 983, 1333], "category": "Text", "text": "4/8 = 50%"}, {"bbox": [96, 1366, 382, 1390], "category": "Section-header", "text": "### Domestic revenue mobilisation"}, {"bbox": [96, 1392, 1131, 1445], "category": "Text", "text": "After a number of years with GoG Fiscal Act (the GoG budget) in surplus, there has been a marked shift to a significant deficit in 2020 and 2021."}, {"bbox": [96, 1471, 1131, 1577], "category": "Text", "text": "The Fiscal Act for 2023 operates with an aggregated surplus of DKK 16.2 million (EUR 2.2 million) for the entire period budget 2023-2026. The Fiscal Act thus fulfils the Budget Law requirement that the budget must - on average - balance or be in surplus over a mid-term 4-year horizon (including the fiscal year and the three projected budget years)."}, {"bbox": [1026, 1681, 1142, 1705], "category": "Page-footer", "text": "Page 16 of 36"}]