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International Monetary Fund. Fiscal Affairs Dept.
This report assesses the institutional design and effectiveness of public investment management (PIM) in Egypt. The report concludes that effectiveness is stronger than or on par with comparators for national planning and inter-governmental coordination, and weaker than the average comparator country on several other PIM institutions. Improvements in PIM will be important to close efficiency gaps and enhance the productivity of future public investments. Egypt’s Government has already taken several steps to improve the access to infrastructure and quality of public investment management, including through new legislation, new information systems and significant efforts to enhance staff capacities. The report provides five main recommendations for how these reform steps can be strengthened, sustained and further extended: 1) Strengthen project appraisal and selection processes; 2) Enable private sector involvement in public infrastructure provision: 3) Operationalize PFM law provisions for medium-term budgeting; 4) Strengthen asset management and ensure sufficient maintenance; and 5) Strengthen procurement, project and portfolio management.
International Monetary Fund. Fiscal Affairs Dept.
This report updates the Fiscal Transparency Evaluation for Georgia published in 2017. Over the past six years, Georgia has taken significant steps to address the transparency gaps identified in the 2017 assessment. Fiscal reporting has become more comprehensive through an increased coverage of public entities, and the publishing of annual financial statements for the central government since 2020. Improvements in fiscal forecasting and budgeting include, but are not limited to, the recalibration and adoption of a new set of fiscal rules and the reconciliation and explanation of changes to the government’s previous forecasts. Fiscal risk analysis and management has been expanded to comprise a wider set of risks, and at the same time undertaking more complex analytical exercises, including of long-term risks. The updated evaluation identified gaps that the country should address to continue improving transparency, including further increasing the coverage of fiscal reports or strengthening the external oversight of the government’s financial position, among others.
International Monetary Fund. Fiscal Affairs Dept.
This technical assistance report on the Democratic Republic of the Congo (DRC) focuses on Public Investment Management Assessment (PIMA) and climate PIMA. The access and quality of infrastructure resulting from these investments are very poor, with major risks of deterioration. While it is important to increase investment, that will not be enough; it is also necessary to invest better, thanks to enhanced public investment management. Public investment management in the DRC suffers from weaknesses across the whole project cycle, both on paper and in practice. Strengthening budget credibility is a key condition for the success of public investment management reforms in the DRC. Based on the PIMA evaluation, this report puts forward seven high-priority recommendations that could greatly improve public investment management in the DRC in the short to medium term. Finally, other significant efforts to reform public finance management undertaken by the Government will contribute to enhancing public investment management. This relates particularly to the shift to a double budget appropriation system, to the transition to program-based budgeting, and to the strengthening of transparency and competition in public procurement.
International Monetary Fund. Fiscal Affairs Dept.
Public investment is expected to play a significant role in the post-pandemic economic recovery in Poland. Like other countries in the region, Poland lags more advanced European economies in the quantity and quality of its infrastructure despite significant progress in the last decade. The Government’s recent economic plan—the New Polish Deal—foresee an extensive economic and investment plan of which many investments will benefit from the large support from the European Union funds to scale up green, digital, and resilient investments. In this context, the public investment management assessment (PIMA) was conducted to assess strengths and weaknesses of infrastructure governance in Poland and identify potential bottlenecks for making the most of these investments in terms of quality of infrastructure.