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Showing posts with the label public Finance Mangement

Poor management of public finances: what does it mean for the public?

What is public finance management? In public finance, various government and quasi-governmental organizations manage national income and expenditures to manage deficits. The value of money is taken into account nationally and locally. This involves processes such as resourcing, allocation, revenue collection and so on. It plays a crucial role in ensuring public finances are being used responsibly to meet the end needs of the public. The poor, whose lives are most often affected by multiple government policies, are especially susceptible to the consequences of poor financial management.    Importance of strong public Finance Management Ensures resources are available to provide adequate public services education, care, health and infrastructure. A strong public financial management would exhibit adaptability that makes it simple for the targeted sectors to change.  It is also crucial to a sound public financial management system that a government's operations are clearly e...