Digitalization Strategies of the Public Financial Management System in Ukraine: Analysis and Perspectives

Abstract

The characteristics and analysis of current strategies for digitalizing the public finance management system in Ukraine are examined. The research aims to justify the improvement of digitalization and digital transformation strategies in the public finance management system. The study uses analysis methods (for analyzing scientific sources) and generalization (identifying tasks and directions for implementing digital transformation strategies in public finance), as well as graphical methods (for graphical representation of trends). Three strategic documents containing the goals and tasks of digitalizing public finance are analyzed, including the Strategy for Digital Development, Digital Transformations and Digitalization of the Public Finance Management System for the Period Until 2025, the Strategy for Reforming the Public Finance Management System for 2022-2025, and the National Revenue Strategy until 2030. It is noted that among the tasks, a prominent place is occupied by the transition to a paperless environment and electronic document management, the implementation of information systems for data processing and their exchange between various executive bodies, the centralization of IT systems management, etc. These tasks are necessary for creating a strong foundation for the further implementation of more complex digital technologies in the future. It is determined that the mentioned strategic documents mainly focus on digitizing and automating the public finance management system, without addressing the technologies and processes of digitalization and digital transformation per se. However, the rapid development of digital technologies does not allow for delays in the strategic tasks of their implementation in the public finance management system of Ukraine. The achievement of the goals of these strategies by 2025 will create a good foundation for digital transformations in public administration in general and public finance management in particular. In the updated strategies, which will outline the goals and directions for the digitalization of the public finance management system after 2025, it is worth planning the implementation of digital technologies such as Artificial Intelligence, Machine Learning, Big Data analysis, etc.