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The Minister of Finance reveals the main benefits of the public administration system
Economical 2023/02/06
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Yesterday, Sunday, Minister of Finance, Taif Sami, revealed the basic benefits of the system
Public financial management.
The ministry said in a statement that Sami held a joint meeting with the World Bank team and members of the steering committee for the implementation of the public financial management system project, in the presence of a number of general managers of the departments concerned with the (IFMIS) project. The next stages of implementing the project according to the specified timelines and the allocated costs, as well as examining the extent of the system’s response to the rest of the sub-systems such as preparing the federal budget, procurement and payments systems, fixed assets, the salary system, the revenue system, and cash management.
And she continued, "The minister listened to a detailed presentation on the design and implementation of the next phases of the project, and its direct relationship to the unified treasury account system, in a manner that suits the nature of the financial and accounting system in Iraq, as well as the advantages that the application of the system provides for the optimal use of the state's monetary resources."
The minister stressed that “the main benefits of the system are its ability to improve financial and administrative reports, a comprehensive account structure for the federal government, and the unification of the structure of accounts with independent bodies, in addition to issuing reports according to government financial statistics, laying the foundations for decentralized accounts in federal ministries, and adopting an internationally recognized accounting information system.” And an information system at the latest international level in terms of technical and scientific aspects, improving control and auditing processes, as well as improving management of revenues, expenses, cash, cash flows, salary accounts, and follow-up on project cost accounts.
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