Ministry of Finance (Ukraine)

The Ministry of Finance of Ukraine (Ukrainian: Міністерство фінансів України) is the ministry of the Ukrainian government 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.

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

Role

Specific tasks that the ministry has to perform[3] 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

IncumbentPositionPortfolio
Serhiy Marchenko[4]Minister of FinanceManagement of the Ministry
Denys UliutinFirst Deputy Minister of FinanceInter-budgetary relations (state and local budgets), financing of security and defense, procuratorial authorities and separate  law enforcement, implementation of national programs of Ukraine-NATO cooperation
Yuriy ButsaState Commissioner for public debt managementCommercial borrowing, EU macro-fiscal support and World Bank guaranteed loans
Alexander KavaDeputy Minister of FinanceFinancing of infrastructure projects
Roman YermolychevDeputy Minister of FinanceExpenditures of the budget of the humanitarian sphere, expenditures of the social sphere and authorities
Svitlana VorobeiDeputy Minister of FinanceEnsuring the activities of the Ministry in the field of tax and customs policy, verification of government payments
Olga ZykovaDeputy Minister of FinanceDevelopment and implementation of  unified state financial policy in the field of cooperation with foreign governments, foreign financial institutions, and international financial organizations.
Yuriy DraganchukDeputy minister of finance of Ukraine for European integrationFinancial and customs policies, international cooperation and strategic planning in European integration, fuel and energy complex finance, property relations
Oleksandr HrubiianDeputy Minister of Finance of Ukraine for Digital Development, Digital Transformations and DigitalizationDevelopment of digital transformations and digitalization
Dmytro SamonenkoState SecretaryOrganisational 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

Ministry agencies

There are several central executive agencies in Ukraine which report to the Cabinet of Ministers through the Minister of Finance.[5] These include:

  1. State Treasury Service;[6]
  2. State Tax Service;[7]
  3. State Customs Service;[7]
  4. State Financial Monitoring Service of Ukraine;[8]
  5. State Audit Service of Ukraine.[9]

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).[10]

Supporting establishments

  • State gemological center of Ukraine[11]
  • 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 agencyName of ministerTerm of Office
StartEnd
General Secretariat of UkraineKhrystofor BaranovskyJune 15, 1917January 30, 1918
Council of People's MinistersStepan PerepelytsyaJanuary 30, 1918February 1918
Petro KlymovychFebruary 1918April 29, 1918
Council of Ministers (1918)Anton RzhepitskiyApril 30, 1918December 14, 1918
Council of People's MinistersVasyl MazurenkoDecember 26, 1918January 1919
Borys MartosJanuary 1919February 13, 1919
Mykhailo KryvetskyFebruary 13, 1919April 9, 1919
Borys MartosApril 9, 1919May 25, 1920
Khrystofor BaranovskyMay 28, 1920November 21, 1920
People's SecretariatStanislav KosiorMarch 1918April 1918
Joachim Vatsetis1918September 1918
Mikhail BogolyepovNovember 28, 19181918
Temporary Government of
Peasants and Workers
Fridrikh Zemit19181919
People's SecretariatMykola Lytvynenko19221923
Stepan Kuznyetsov19231925
Mykhailo Poloz19251931
Oleksandr Rekis193?193?
Mykola Kurach19371944
Heorhiy Sakhnovsky19441951
?
Mykola Shchetinin19541954
Cabinet of Ministers of Ukrainian SSRAnatoliy Baranovsky1961August 22, 1979
Vasyl KozerukAugust 22, 1979March 6, 1987
Ivan ZabrodinMarch 6, 19871990
Ivan Zaichuk19901990
Oleksandr KovalenkoAugust 2, 1990August 24, 1990
Cabinet of Ministers of UkraineOleksandr KovalenkoAugust 24, 1990October 29, 1991
Hryhoriy PiatachenkoOctober 29, 1991July 6, 1994
Petro HermanchukJuly 6, 1994June 18, 1996
Valentyn KoronevskyJune 18, 1996February 25, 1997
Ihor MityukovFebruary 26, 1997December 27, 2001
Ihor YushkoDecember 27, 2001November 26, 2002
Mykola AzarovNovember 26, 2002February 3, 2005
Viktor PynzenykFebruary 4, 2005August 4, 2006
Mykola AzarovAugust 4, 2006December 18, 2007
Viktor PynzenykDecember 18, 2007February 17, 2009
Ihor Umansky (acting)April 8, 2009March 11, 2010
Fedir Yaroshenko[12]March 11, 2010January 18, 2012[13]
Valeriy Khoroshkovsky[13]January 18, 2012February 22, 2012[14]
Yuriy Kolobov[15]February 28, 2012[15]27 February 2014
Oleksandr Shlapak27 February 20142 December 2014
Natalie Jaresko[16]2 December 2014[16]14 April 2016[17]
Oleksandr Danylyuk[17]14 April 2016[17]7 June 2018[18]
Oksana Markarova[19]22 November 2018[19]4 March 2020
Ihor Umansky4 March 2020[20]30 March 2020[21]
Serhiy Marchenko[1]30 March 2020[1]Incumbent

See also

References

External links

Media related to Ministry of Finance (Ukraine) at Wikimedia Commons