Abstract
The role of public investment management is revealed and the main features that are reflected in the definition and effectiveness of public investment are outlined. The effectiveness of public investment depends on how effectively the country manages their public investment. The main institutional components of public investment management are identified. The main problems of public investment management in Ukraine within the institutions that needed reform in 2014 are analyzed. The updated institutional levers and methodological principles of public investment management are described and the results of their implementation, quantitative and qualitative characteristics are analyzed. Their have positive dynamics that is noted. Problems that need further settlement are noted. Over the last 5 years, Ukraine has significantly changed its approaches to public investment management: institutions have been established for a transparent process of project selection, project examination, and monitoring of their implementation. The main problems are next: the lack of legally defined concepts of public investment and its principles, insufficient funding of public investment projects, the application of new procedures only to part of public investment, lack of information on compliance with selection criteria in public access, low institutional capacity of bodies that are responsible for project preparation appraisal, examination of projects, monitoring of project implementation. It is advisable to additionally conduct a comparative analysis of the results of public investment management assessments issued by the IMF and the World Bank, and to develop recommendations on priority steps to reform the PIM in Ukraine. Further research is to examine the diagnostic and analytical tools used to assess the effectiveness of public investment management, the selection and improvement of those that can be used for self-assessment at different levels of government.
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