Drawing from this diagnosis, the Public Finance Management System (PFMS) Reform Programme itself and the well-established PEFA (Public Expenditure and Financial Accountabilty) Methodology, the project proceeded to create a comprehensive multi-annual PEFA-based Monitoring & Evaluation (M&E) Plan for the PFMS Reform Programme and a new implementation calendar for the PFMS Reform Programme in ensuing years.
The recommended M&E plan was hinged on carefully selected axes of the PFMS Reform Programme, as recommended by the PEFA methodology, namely:
- Axis 1: Policy-based budget
- Axis 2: Improved budget credibility
- Axis 3: Improved budget scope and transparency
- Axis 4: Improved control of budget implementation
- Axis 5: Accountacy and reporting
- Axis 6: Comprehensive external control.
