Public Finance Management (PFM)

Public Finance Management (PFM) refers to the way governments plan, raise, allocate, and monitor financial resources to provide public services effectively and responsibly. It involves budgeting, revenue collection, expenditure control, and ensuring financial accountability to promote economic stability and development. PFM aims to use public funds efficiently, prevent corruption, and deliver value for money, thereby supporting good governance and improving citizens’ quality of life. Proper PFM systems help governments make informed decisions, prioritize projects, and sustain financial health over time.