Treasury Single Account in Portugal
for the Ministry of Finance
The Commission is supporting national authorities in their efforts to improve the functioning of their Treasury Single Account.
The Ministry of Finance intends to use the momentum of the reform of the budget framework law and the additional information provided by the new framework to modernise cash management and enhance its capacity to forecast non-tax revenue.
Support to be delivered
The support provided by the Commission and the World bank will take the form of on-site missions and workshops.
The planned measures consist of:
- reviewing the functions of the Debt and Treasury Management Agency;
- developing a new cash management model;
- streamlining non-tax collection and accounting procedures; and
- providing recommendations for improvements in the architecture of the Financial Management Information System
Support from the Commission is expected to deliver the following results:
- more effective cash management; and
- improved non-tax revenue collection and accounting.
And have the following impacts:
- reduced level of debt and hence costs of borrowing; and
- fostering sound financial management.