Penza, 30 October 2016. PenzaNews. The main directions of the Penza region’s fiscal policy in medium term were endorsed by the decree of the regional government, signed by the governor Ivan Belozertsev.

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One of them is providing balanced and financial sustainability of the budgetary system of the Penza in conditions of limited revenue resources.

In addition, there was designated a task of improving the efficiency of spending.

Also, the emphasis will be placed on implementing new principles of execution of the Penza region budget.

Along with that, one of the key areas will be improving the process of formation, provision and distribution of inter-budgetary transfers from the region budget.

Special attention is planned to be drawn to the development of financial control, including further development of methodology and standardization of monitoring activities, as well as improving the quality of managing state and municipal finances.

Another important direction is identified as raising the level of openness of budget data and applying proactive budgeting principles with the view to increase public participation in the management of public finances.