Unlocking opportunities through better public finance management

Accurately measuring how public funds are spent and the results they achieve is critical in facilitating effective public spending.

OMFIF’s ‘Blockchain for public finance management’ series, developed in collaboration with EY, presented a comprehensive report distilling the insights gathered over a year of public and private conversations. We discussed the project’s key findings and the next steps in the effort to improve public budgeting, making it more transparent, efficient and effective in delivering positive social outcomes.

Mark MacDonald, EY’s global lead for public finance management, and Joachim Schwerin, principal economist for digital transformation of industry, DG GROW of the European Commission, joined OMFIF to examine how new technologies have the potential to improve public finance management. They explored how stakeholders can obtain better oversight about how public money is used and how budgetary authorities can connect the funds they disburse with their use and their impact.