Ariana KONOMI, Alketa BEJKO & Daniela QIQI

Abstract Despite the state intervention in order to achieve equality in life standards, there are still a lot of differences in regional development. In these circumstances it is required to analyze and discover trends and think creatively about the ways of forming appropriate policies that will put aside these differences. In our paper we will point out that this process is effective and will lead to sustainable regional development in addition to other benefits, when: There will be serious investment in human recourses, which will build an effective system of public finances management, improving the performance of budgetary institutions. There will be increased cooperation in intergovernmental relations, and coordination of the central government with the local government’s budget processes. A high standard in the area of public finances internal control. The new developments in the field of public accounting and statistics will be implemented faster, in accordance to international standards.
Key words public financial management, budgetary process, regional development, public accounting.
JEL classification M480