Supporting budget reforms in Slovakia

The Commission aimed to enhance the understanding of spending processes and corporate governance in selected Slovak state-owned enterprises (SOEs). It provided detailed analyses and recommendations to optimize budgeting and governance practices, contributing to increased transparency and efficiency.

Context

The project supported the Ministry of Finance of Slovakia, specifically the Value-for-Money Unit, in analyzing and improving the spending processes and corporate governance of selected state-owned enterprises (SOEs). The initiative included a comprehensive review of the Universal Health Insurance Company and University Hospital Bratislava, focusing on their internal environment, contractual procedures, and payment systems. By addressing the complex financial practices and operational challenges within these entities, the project aimed to streamline operations and enhance the effective use of public funds.

Support delivered

The project delivered the following outputs:

• Evaluation report on the fulfilment of the Implementation Plan in Universal Health Insurance Company (VšZP).
• Comprehensive review of another suitable state-owned enterprise (SOE), namely University Hospital Bratislava (UNB) covering financial analysis, business review, and key internal processes.
• Recommendations for establishing a corporate governance framework for SOEs.
• Detailed mapping of internal environments, contractual procedures, and governance models.
• Best practice insights from other EU Member States and international organizations to guide reform implementation.

Results achieved

The project successfully provided a comprehensive set of recommendations for improving the spending and governance of Slovak SOEs. The proposed reforms are expected to enhance transparency, reduce expenditure, and streamline budgeting processes. By implementing these recommendations, Slovakia can achieve better fiscal management and more efficient resource allocation. The project's outcomes contribute to stronger oversight and more effective corporate governance, benefiting the broader community and ensuring more strategic use of public funds.

More about the project

You can read the documents related to the project here: