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Business and Economics > Budgeting

You are looking at 1 - 10 of 61 items for :

  • Type: Journal Issue x
  • Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity x
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Cover Technical Assistance Reports
Indonesia: Technical Assistance Report-Subnational Government Endowment Funds
International Monetary Fund. Fiscal Affairs Dept.
The Indonesian authorities are exploring options for the establishment of subnational government endowment funds and the Ministry of Finance (MoF) has drafted regulations in that context. However, the motivations and objective for establishing an endowment fund at the subnational level diverge across various stakeholders. Clarity of the objectives and purpose of the endowment fund will be critical for informing features of its architecture, and the endowment fund should be aligned with the national fiscal policy objectives. Establishing such funds at a time of fiscal deficit entails a โ€œborrowing-to-saveโ€ approach which is not optimal from a fiscal policy perspective. Currently, there is a misalignment between the design of inflow and outflow rules, the endowment fundโ€™s objectives, and the fiscal/economic context. In addition, the current draft MoF regulations restrict the investment policy to conform with the law on decentralization enacted in 2022. This report emphasizes that regardless of the structure of the endowment fund, it needs to be fully integrated within the budget. The report also provides recommendations on assessing the full cost of the subnational government endowment fund, its design and implementation, and provides suggestions to improve the draft MoF regulations.
Keywords:
Indonesia; Subnational government; Local government; Endowment Fund; Sovereign wealth fund; Intergovernmental fiscal relations; Decentralization; Intergenerational wealth; Inflows; outflow rules.; CD recipient; IMF Resident representative; government endowment funds; IMF Fiscal Affairs Department; draft government; FAD expert; Budget planning and preparation; Investment policy; Budget execution and treasury management; Natural resources; Public employment
Cover Policy Papers
IMF Board Endorses Implementation Plan in Response to Institutional Safeguards Review
International Monetary Fund
IMF Board Endorses Implementation Plan in Response to Institutional Safeguards Review
Keywords:
Board SG; transparency policy; staff engagement survey; IMF Board; IMF's transparency policy; Budget planning and preparation; Employment; Internal audit
Cover IMF Staff Country Reports
Saudi Arabia: 2018 Article IV Consultation-Press Release and Staff Report
International Monetary Fund. Middle East and Central Asia Dept.
Reform momentum remains strong under Vision 2030. New reform initiatives are being rolled-out under the Vision Realization Programs (VRPs). Oil prices have risen over the past year and are positively affecting fiscal and external balances. Higher oil prices provide both an opportunity and a risk to the fiscal reforms.
Keywords:
ISCR; CR; SDR Department; deficit; amount; oil price; totaling SDR
Cover IMF Staff Country Reports
Saudi Arabia: 2018 Article IV Consultation-Press Release and Staff Report
International Monetary Fund. Middle East and Central Asia Dept.
This 2018 Article IV Consultation highlights that Saudi Arabiaโ€™s real GDP growth is expected to increase to 1.9 percent in 2018, with non-oil growth strengthening to 2.3 percent. Growth is expected to pick-up further over the medium term as the reforms take hold and oil output increases. Risks are balanced in the near-term. The employment of Saudi nationals has increased, especially for women, but the unemployment rate among Saudi nationals rose to 12.8 percent in 2017. Credit and deposit growth remain weak, but both are expected to strengthen owing to higher government spending and non-oil growth. The fiscal deficit is projected to continue to narrow, from 9.3 percent of GDP in 2017 to 4.6 percent of GDP in 2018.
Keywords:
ISCR; CR; SDR Department; deficit; amount; oil price; totaling SDR; oil export revenue; revenue reform; IMF staff calculation; IFC advisory; exchange rate; Oil prices; Employment; Budget planning and preparation; Energy prices; Global; Europe; East Asia; Asia and Pacific; East Africa
Cover IMF Staff Country Reports
Belgium: 2016 Article IV Consultation--Press Release; Staff Report
International Monetary Fund. European Dept.
This paper discusses economic development and policies of Belgium. The new government has taken important steps to support job creation and address the cost of agingโ€”notably through wage moderation, pension reform, and a tax shift. But growth prospects remain mediocre, public debt very high, and the labor market severely fragmented. The central task is to achieve a lasting reduction in public debt while nurturing the recovery and social cohesion. The governmentโ€™s goal of achieving structural fiscal balance by 2018 is laudable but ambitiousโ€”with almost two percent of GDP of measures yet to be identified. Tapping Belgiumโ€™s full labor market potential requires a comprehensive and inclusive jobs strategy.
Keywords:
ISCR; CR; government; reform; labor tax wedge; labor market fragmentation; reform progress; money market rate; terrorist financing risk; Labor markets; Employment; Wages; Global
Cover IMF Staff Country Reports
Mali : rapport d'assistance technique โ€“ rรฉussir la dรฉcentralisation financiรจre
International Monetary Fund. Fiscal Affairs Dept.
ร‰tat des lieux - La dรฉcentralisation au Mali est un processus ancien, ancrรฉ dans le dispositif institutionnel et il a dรฉlivrรฉ au fil du temps des rรฉsultats en particulier au niveau des communes. Les exรฉcutifs communaux sont entrรฉs depuis plus de trois dรฉcennies dans le paysage socio culturel local. Ils ont mis en place de services de base, notamment dans les secteurs de lโ€™รฉducation et de la santรฉ, et un relatif amรฉnagement du territoire de proximitรฉ. Pour autant, les collectivitรฉs locales sont encore loin de possรฉder les moyens financiers et humains pour assumer leurs compรฉtences, ce qui a pu obรฉrer lโ€™atteinte dโ€™objectifs essentiels tels que lโ€™unitรฉ territoriale, le dรฉveloppement local, et la lutte contre la pauvretรฉ dans lโ€™arriรจre pays malien. Le dรฉploiement des services dรฉconcentrรฉs de lโ€™ร‰tat, au demeurant peu encadrรฉs et faiblement financรฉs, nโ€™a pas suffit ร  dynamiser le dรฉveloppement local. Le thรจme de la dรฉcentralisation sโ€™est rรฉimposรฉ au cล“ur du dรฉbat national, ร  la lumiรจre de la crise du septentrion malien, et de la dramatique instabilitรฉ politique et militaire qui sโ€™est ensuivie.
Keywords:
ISCR; CR; central government budget; oversight authorities; budget revenue; cash flow; governance indicator; local governments code; officials career
Cover IMF Staff Country Reports
Mali: Technical Assistance Report - Implementing Fiscal Decentralization
International Monetary Fund. Fiscal Affairs Dept.
This Technical Assistance Report discusses key recommendations for implementing fiscal decentralization in Mali. It proposes to set an optimal administrative organization of the territory, which should aim at building consistent and sustainable local governments that are best suited to address specific local needs. In this context, the regions deemed to be best suited to handle funds are envisaged to be decentralized and with large-scale development actions. The local government revenue should be optimized through local taxation, and an efficient system of transfers from the central government should be introduced. The report also proposes establishing good financial governance in Mali.
Keywords:
ISCR; CR; central government budget; oversight authorities; budget revenue; cash flow; governance indicator; local governments code; officials career; payment authorization officer; government accountant; decentralization objective; oversight authority; transition government; government transfer; government's decision; universal suffrage; Budget planning and preparation; Subnational tax; Budget execution and treasury management
Cover Fiscal Monitor, October 2014
Fiscal Monitor, October 2014
Back to Work: How Fiscal Policy Can Help
International Monetary Fund. Fiscal Affairs Dept.

Abstract

At a time when job creation tops the policy agenda globally, this issue of the Fiscal Monitor explores if and how fiscal policy can do more for jobs. It finds that while fiscal policy cannot substitute for comprehensive reforms, it can support job creation in a number of ways. First, deficit reduction can be designed and timed to minimize negative effects on employment. Second, fiscal policy can facilitate structural reforms in the labor market by offsetting their potential short term costs. And third, targeted fiscal measures, including labor tax cuts, can help tackle challenges in specific segments of the labor market, such as youth and older workers.

Keywords:
FM; potential GDP; economy; emerging market; nominal GDP; deficit economy; imputed interest; labor market reform; a number of economy; Fiscal stance; Macroeconomic and fiscal forecasts; Employment; Africa; Middle East; North Africa; Asia and Pacific; Global
Cover Policy Papers
The Fund's Capacity Development Strategy--Better Policies Through Stronger Institutions
International Monetary Fund
This paper outlines reforms to increase the effectiveness of the Fundโ€™s capacity development (CD) program. It builds on the 2008 and 2011 reviews of technical assistance (TA) and the 2008 review of training, which set in motion important changes to make CD more valuable to member countries. Reforms will involve Board endorsement in a few areas and implementation by staff of related next steps.
Keywords:
PP; TA review; TA evaluation program; donor financing; TA department; assessment report; Cd activity; member country; monetary policy; TA advice; TA strategy paper; policy statement; planning process; employment growth; donor-financed CD activity; policy advice; program context; area department; IT RBM platform; Budget planning and preparation; Strategic planning for revenue administration; Employment; Monetary policy frameworks; Global; Sub-Saharan Africa
Cover IMF Staff Country Reports
Eastern Caribbean Currency Union: Selected Issues
International Monetary Fund
The objective of this paper is to analyze the growth performance of the ECCU countries since independence and the policy challenges they face to ensure sustained growth in the period ahead. Although tourism specialization may bring about higher growth, it could also increase volatility in growth by amplifying the impact of business cycles in source countries on the tourism sector. Low productivity growth is principally the reason for the slowdown in growth. High debt levels have been a major drag on growth.
Keywords:
ISCR; CR; ECCU country; GDP; ECCU Tourism; debt; Tourism competitiveness vis-รก-vis; composition analysis; public debt debt ratio; public-debt-to GDP ratio; ECCU group; Tourism; Budget planning and preparation; Civil service; Caribbean; Global