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Value for Money

updated: 29. 03. 2018

About Value for Money

 

The Value for Money project is a new instrument started in 2016 with aim to improve efficiency of public expenditure; through this project the government intends to improve public services and contribute to a balanced budget.

The Government will review general government expenditures with the objective to achieve higher effectiveness, better state services and/or consolidation of public finance. It will do so regularly and systematically as part of the budgetary process in order to assess the majority of general government expenditures, including the tax expenditures, over the election term.

The implementation of the measures identified by the revisions conducted from 2017 is monitored by the Implementation Unit located at Deputy Prime Minister‘s Office for Investments and Informatization of the Slovak republic.

The Government reformed the significant investment assessment process in 2017. Adopting the Public Investment Project Assessment Framework, the Government defined a methodological framework for the process and preparation of large investment projects and their assessment in accordance with the Value for Money principles. The Ministry of Finance is obligated to prepare and publish assessment of the investment project funded from the public sources of the general government with costs above EUR 40 mil., or above EUR 10 mil. in the informatization area.

If you would like to know more about Value for Money, have a look at this presentation.

Basic documents about Value for Money: