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Ministry of Finance (Ukraine)

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Ministry of Finance
of Ukraine
Міністерство фінансів України
Agency overview
JurisdictionUkraine
Headquarters12/2 Mykhailo Hrushevsky Street, Kyiv
Minister responsible
Parent agencyCabinet of Ministers
Child agencies
  • State Treasury Service
  • State Customs Service
  • State Tax Service
  • State Service for Financial Monitoring
Websiteminfin.gov.ua

The Ministry of Finance of Ukraine (Ukrainian: Міністерство фінансів України) is a central executive agency in Ukraine charged with developing and implementing national financial and budget policies, and with defining national policies in customs and taxation. The ministry is responsible for ensuring that the state has enough resources to perform its functions and that financial policies promote economic growth.

Role

Specific tasks that the ministry has to perform[2] include:

  • regulating financial, budgeting, customs and taxation affairs,
  • regulating administration of Ukraine’s single social insurance tax;
  • defining state policy for combating violations of tax and customs law;
  • defining state policy for combating laundering proceeds from crime and financing of terrorism; cooperating with the Financial Action Task Force on Money Laundering and other international organisations in this area;
  • regulating issues related to financial control, state treasury administration of public funds, accounting and accounting standards, running lotteries, issuing securities and strict accounting documents, handling of precious metals and gems;
  • analysing and forecasting public revenue, drafting mid-term Budget Declarations and annual Budget Laws;
  • coordinating implementation of the State Budget;
  • setting guidelines for budget planning; enhancing effectiveness of public financial management;
  • managing public and state-guaranteed debt;
  • regulating intergovernmental fiscal relations; greenlighting sub-national borrowing and provision of debt guarantees by local governments;
  • informing general public on economic and fiscal policies of the state, as well as on the results of implementing the state’s budget;
  • assessing financial viability of regional development projects;
  • management of state-owned banks;
  • defining and implementing national policy on development of financial services, development of state-owned banks, other financial institutions;
  • cooperating with the International Monetary Fund and other international financial organisations.

Senior leadership

Incumbent Position Portfolio
Serhiy Marchenko[1] Minister of Finance
Yuriy Butsa[citation needed] State Commissioner for public debt management Commercial borrowing, EU macro-fiscal support and World Bank guaranteed loans
Andriy Gradil[citation needed] Deputy Minister of Finance Defense, law enforcement and state security spending
Yuriy Heletiy[citation needed] Deputy Minister of Finance Management and development of state-owned banks and non-bank institutions, public investment and innovations
Yuriy Dzhygyr[citation needed] Deputy Minister of Finance Public spending on health, education, science, culture, sports, social protection and care; expenditure of state executive agencies.
Serhiy Verlanov[citation needed] Deputy Minister of Finance Taxes and customs, monitoring of payments, revenue forecasting, accounting standards, strict accounting documents and assay supervision;
Vasyl Shkurakov[citation needed] Deputy Minister of Finance Fuel and energy finances, public debt policy, cash manaОлена gement
Olena Bohachova[citation needed] Acting State Secretary Organisational development, HR management, information systems and technologies, administrative management

Structure

Minister of Finance:

  • Minister’s Office;
  • Department for Strategic planning and European integration;
  • State budget department;
  • Local budgets department;
  • Department for harmonization of state internal financial control;
  • Department of financial and economic affairs, accounting and financial reporting;
  • Department public and government relations;
  • Legal department;
  • Department for analysis and communications;
  • Internal audit department;
  • Anti-corruption department;
  • Mobilisation department;
  • Classified records office;

Deputy Minister, customs and taxation:

  • Department for taxation policy;
  • Department for database monitoring and verification of budget payments;
  • Department for revenue forecasting and accounting standards;
  • Department for assay control and strict accounting documents;

Deputy Minister, energy and fiscal risks

  • Department for fuel and energy;
  • Department for industrial expenditure;
  • Department for public debt management;
  • Department for fiscal risks management;
  • Department for cash management.

Deputy Minister, social and humanitarian affairs:

  • Department for management of expenditure in humanitarian sectors;
  • Department for management of expenditure in social sectors;
  • Department for management of expenditure of government agencies.

Deputy Minister, defense and security:

  • Department for management of expenditure on defense, state security and law enforcement.

Deputy Minister, financial policy and international cooperation

  • Financial policy department;
  • Department for international financial projects;
  • Department for international cooperation.

State Commissioner for public debt management:

  • Office of the State Commissioner for public debt management.

Acting State Secretary:

  • Department for Human resources and organizational management;
  • Department for submissions and procedural control;
  • Department of IT and information systems;
  • Administrative Office

Central executive agencies which report to the Cabinet of Ministers through the Minister of Finance

There are several central executive agencies in Ukraine which report to the Cabinet of Ministers through the Minister of Finance.[3] These include:

  1. State Treasury Service;[4]
  2. State Tax Service;[5]
  3. State Customs Service;[6]
  4. State Service for Financial Monitoring;[7]
  5. State Audit Service of Ukraine.[8]

Note: Prior to 10 September 2014, the list of executive agencies under the Ministry of Finance also included the State Assay Service. This agency was closed down as part of the Government’s initiative to streamline the structure of executive agencies. Functions in assay control were split between the Ministry of Finance (implementing state assay control policy) and the State Service for Food Safety and Consumer Protection (protecting the rights of consumers of precious metals and gems).[9]

Supporting establishments

  • State gemological center of Ukraine
  • State repository of precious metals and stones
  • Museum of decorative and precious stones
  • Kyiv Offset Factory
  • Main planning and service center of computer financial technologies
  • Administration in exploitation of assets complex
  • Recreation site Koncha-Zaspa
  • Administration Office in International Financial Cooperation projects
  • Assay Control State Offices (Dnipro, Donetsk, Western, Crimean, Southern, Eastern, Central)
  • Scientific-researching financial institute

List of ministers of finance of Ukraine

Government Building in Hrushevsky Street, Kyiv
Name of parent agency Name of minister Term of Office
Start End
General Secretariat of Ukraine Khrystofor Baranovsky June 15, 1917 January 30, 1918
Council of People's Ministers Stepan Perepelytsya January 30, 1918 February 1918
Petro Klymovych February 1918 April 29, 1918
Council of Ministers (1918) Anton Rzhepitskiy April 30, 1918 December 14, 1918
Council of People's Ministers Vasyl Mazurenko December 26, 1918 January 1919
Borys Martos January 1919 February 13, 1919
Mykhailo Kryvetsky February 13, 1919 April 9, 1919
Borys Martos April 9, 1919 May 25, 1920
Khrystofor Baranovsky May 28, 1920 November 21, 1920
People's Secretariat Stanislav Kosior March 1918 April 1918
Joachim Vatsetis 1918 September 1918
Mikhail Bogolyepov November 28, 1918 1918
Temporary Government of
Peasants and Workers 		Fridrikh Zemit 1918 1919
People's Secretariat Mykola Lytvynenko 1922 1923
Stepan Kuznyetsov 1923 1925
Mykhailo Poloz 1925 1930
Oleksandr Rekis 193? 193?
Mykola Kurach 1937 1944
Heorhiy Sakhnovsky 1944 1951
?
Mykola Shchetinin 1954 1954
Cabinet of Ministers of Ukrainian SSR Anatoliy Baranovsky 1961 August 22, 1979
Vasyl Kozeruk August 22, 1979 March 6, 1987
Ivan Zabrodin March 6, 1987 1990
Ivan Zaichuk 1990 1990
Oleksandr Kovalenko August 2, 1990 August 24, 1990
Cabinet of Ministers of Ukraine Oleksandr Kovalenko August 24, 1990 October 29, 1991
Hryhoriy Piatachenko October 29, 1991 July 6, 1994
Petro Hermanchuk July 6, 1994 June 18, 1996
Valentyn Koronevsky June 18, 1996 February 25, 1997
Ihor Mityukov February 26, 1997 December 27, 2001
Ihor Yushko December 27, 2001 November 26, 2002
Mykola Azarov November 26, 2002 February 3, 2005
Viktor Pynzenyk February 4, 2005 August 4, 2006
Mykola Azarov August 4, 2006 December 18, 2007
Viktor Pynzenyk December 18, 2007 February 17, 2009
Ihor Umansky (acting) April 8, 2009 March 11, 2010
Fedir Yaroshenko[10] March 11, 2010 January 18, 2012[11]
Valeriy Khoroshkovsky[11] January 18, 2012 February 22, 2012[12]
Yuriy Kolobov[13] February 28, 2012[13] 27 February 2014
Oleksandr Shlapak 27 February 2014 2 December 2014
Natalie Jaresko[14] 2 December 2014[14] 14 April 2016[15]
Oleksandr Danylyuk[15] 14 April 2016[15] 7 June 2018[16]
Oksana Markarova[17] 22 November 2018[17] 4 March 2020
Ihor Umansky 4 March 2020[18] 30 March 2020[19]
Serhiy Marchenko[1] 30 March 2020[1] Incumbent

See also

References

  1. ^ a b c d https://www.pravda.com.ua/news/2020/03/30/7245728/
    https://en.interfax.com.ua/news/general/650971.html
  2. ^ [1] Положення про Міністерство фінансів України, затверджене постановою Кабінету Міністрів України від 20 серпня 2014 р. № 375
  3. ^ Presidential Decree of December 9, 2010 № 1085/2010 «Про оптимізацію системи центральних органів виконавчої влади» [On the optimization of the system of central executive bodies]
  4. ^ [2] Положення про Державну казначейську службу України, затверджене постановою Кабінету Міністрів України від 15 квітня 2015 р. № 215
  5. ^ [3] Положення про Державну податкову службу України, затверджене Постановою Кабінету Міністрів України від 6 березня 2019 р. № 227
  6. ^ [4] Положення про Державну митну службу України, затверджене Постановою Кабінету Міністрів України від 6 березня 2019 р. № 227
  7. ^ [5] Положення про Державну службу фінансового моніторингу України, затверджене Указом Президента України від 13 квітня 2011 р. № 466/2011
  8. ^ "Decree of the Cabinet of Ministers of Ukraine of 20 October 2019 № 879". zakon.rada.gov.ua.
  9. ^ Resolution by the Cabinet of Ministers of Ukraine of 10 September 2014 #442 “On optimising the system of the central executive agencies”
  10. ^ VR approved structure of Cabinet of Ministers (update), UNIAN (March 11, 2010)
  11. ^ a b Yanukovych dismisses Khoroshkovsky from military service, Kyiv Post (19 January 2012)
  12. ^ Khoroshkovsky dismissed as finance minister, appointed first deputy prime minister Archived 2012-05-23 at the Wayback Machine, Interfax Ukraine (22 February 2012)
  13. ^ a b Yanukovych appoints Kolobov as finance minister, Kyiv Post (28 February 2012)
  14. ^ a b Rada supports coalition-proposed government lineup, Interfax-Ukraine (2 December 2014)
    Rada approves new Cabinet with three foreigners, Kyiv Post (2 December 2014)
    (in Ukrainian) Rada voted the new Cabinet, Ukrayinska Pravda (2 December 2014)
  15. ^ a b c New Cabinet formed in Ukraine, UNIAN (14 April 2016)
  16. ^ Oksana Markarova appointed Ukraine's acting finance minister, UNIAN (8 June 2018)
  17. ^ a b Ukraine parliament appoints Markarova, Friz ministers, UNIAN (22 November 2018)
  18. ^ "Ukrainian lawmakers vote to appoint Ihor Umansky as new finance minister". Reuters. March 4, 2020. Retrieved March 5, 2020.
  19. ^ Ukraine's Rada sacks health, finance ministers amid virus crisis Ilya Yemets / 30 March 2020 / Read more on UNIAN: https://www.unian.info/m/politics/10937444-ukraine-s-rada-sacks-health-finance-ministers-amid-virus-crisis.html
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