Ministry of Finance (Secretaria Municipal de Finanças e Planejamento) (SEFIN) (Honduras)
To be an efficient, innovative and effective institution in the administration of the Public Treasury, within a framework of legality, justice and honesty, which allows a better allocation and use of public resources.
They are the State institution responsible for the formulation, coordination, execution and evaluation of policies related to public finances and the General Budget of Income and Expenditures of the Republic; regarding public debt, public investment programming, in a framework of legality and transparency, to contribute to the economic development of the country.
-Improve supervision, control and analysis of the financial execution of public funds so that the authorities make appropriate adjustments.
-Improve control of customs franchises and tax exemptions to increase the availability of state resources.
-Maintain the sustainability of public indebtedness, to preserve credibility in financial markets.
-Improve the national public investment system, emphasizing the control of investment projects for timely decision making.
Historical Review of the Ministry of Finance
In 1825, four years after the declaration of Independence of the Central American countries, the Public Treasury, as it was called the entity responsible for managing the national coffers in Honduras, is called the Ministry of Finance.
Later in the year 1865 it was decided to appoint the Ministry of Finance and War and in 1872 it took the name of Finance and Foreign Affairs. A year later it is called Government and Finance.
However, it is in the year of 1880 that it receives the name of Secretary of State in the Offices of Finance and Public Credit, name that it maintains until 1954, time in which the responsibility of managing the area of commerce is added so It is called the Secretary of State in the Office of Finance and Public Credit and Commerce. Later in 1957 it was called the Ministry of Economy and Finance, a name that it maintains until the year of 1971.
It is in Decree No. 129 of February 5, 1971, which separates the Commerce function assigned to it in 1957, leaving it as Secretary of the Treasury and Public Credit.
On the other hand, under the influence of the airs of modernization that are beginning to be felt at the beginning of the 1990s, reforms to the organic-functional structure of the Public Administration Law take place, which establishes substantial changes stipulated in the Decree No. 218-96 of 1996. These changes have an impact on the Ministry of Finance and Public Credit since from that moment it receives the name of the Ministry of Finance, which is due to the need to develop the Financial Administration system Integrated that combines the Management Systems of Budget, Accounting, Treasury, Public Credit and Revenue Collection to promote the decentralization process in a framework of sustainable development.See more