Ukraine's Finance Ministry plans cloud-based financial data integration and bank privatization

Photo: Unsplash

The government's draft Action Program under the responsibility of Ukraine's Ministry of Finance, published Monday, outlines plans to consolidate all state financial data into a single system and move it to the cloud to ensure faster, more transparent, and more secure management.

"A single financial data administrator. Use of cloud technologies," the ministry listed among its key goals.

The Finance Ministry also reaffirmed plans to reduce the state's role in the banking sector, making it more competitive and client-oriented. This includes approving procedures for hiring an advisor to oversee the sale of bank share packages – a step originally scheduled for September last year under the IMF program but repeatedly postponed since.