Public Financial Management (PFM)

Public Financial Management (PFM) refers to the processes and systems used by governments to manage their finances effectively. This includes planning budgets, collecting taxes, spending public money, and ensuring accountability and transparency. PFM aims to ensure that public resources are used efficiently and responsibly to deliver services to citizens, support economic growth, and maintain fiscal stability. Effective PFM helps governments make informed decisions, promotes trust among the public, and contributes to better governance overall.