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Business and Economics > Budgeting

You are looking at 1 - 10 of 146 items for :

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Cover IMF Staff Country Reports
Algérie: Consultations de 2023 au titre de l’article IV-communiqué de presse; rapport des services du FMI et déclaration de l’administrateur pour l’Algérie
International Monetary Fund. Middle East and Central Asia Dept.
L’économie algérienne se relevait juste de la pandémie lorsqu’elle a été frappée par les répercussions de la guerre en Ukraine et une succession de sécheresses. Ces chocs ont alimenté l’inflation, même si la hausse des cours mondiaux des hydrocarbures a aussi augmenté les recettes publiques et les exportations. L’Algérie a enregistré une croissance vigoureuse en 2023 et sa position extérieure est restée solide, avec un excédent des transactions extérieures pour la deuxième année consécutive et une nouvelle accumulation de réserves de change. L’inflation demeure élevée et pourrait s’enraciner. Les lois de finances 2023–24 visent à soutenir le pouvoir d’achat des ménages, mais risquent d’épuiser les marges de manœuvre qui protègent le budget contre la volatilité des recettes. Les réformes structurelles progressent, avec la promulgation de la loi monétaire et bancaire et la mise en œuvre de la budgétisation par programmes et du code de l’investissement de 2022. Des investissements dans la transition numérique permettraient de renforcer la gouvernance et la transparence, de réduire les risques de corruption et d’améliorer la prestation des services.
Keywords:
la liquidité du marché; opération d’absorption de liquidité; risque d’inflation; le resserrement de la politique monétaire; système d’évaluation du crédit; pression inflationniste; prix des hydrocarbures; finances publiques; IPC de l’Algérie; Inflation; Planification et préparation du budget; les banques d’État; Global; Moyen-Orient; Afrique du Nord; Afrique orientale; Europe.
Cover IMF Staff Country Reports
Republic of Kosovo: Second Reviews Under the Stand-By Arrangement and the Arrangement Under the Resilience and Sustainability Facility and Request for Modification of Reform Measure-Press Release; Staff Report; and Statement by the Executive Director for Republic of Kosovo
International Monetary Fund. European Dept.
This Selected Issues paper presents Republic of Kosovo’s Second Reviews under the Stand-By Arrangement (SBA) and the Arrangement under the Resilience and Sustainability Facility (RSF) and Request for Modification of Reform Measure. Kosovo’s economic activity continues to expand at a robust pace, despite a challenging external environment, and inflation has declined markedly. The Kosovo authorities continue to advance their economic program and structural reform and climate agenda, supported by the SBA and the Arrangement under the RSF. Program performance under both arrangements remains strong. The authorities are advancing an ambitious green agenda. The RSF has supported efforts to strengthen the regulatory framework and increase policy space to attract private investment into green energy. The successful completion of a pilot competitive auction for solar electricity generation and a first auction for wind electricity generation are important steps in the authorities’ plan to expand renewable energy capacity. Reducing emissions and improving air quality, increasing energy efficiency, improving targeting of energy subsidies, and enhancing energy security are important goals of Kosovo’s green agenda.
Keywords:
RSF ARRANGEMENT; government liquidity buffer; CBK balance sheet; Kosovo authorities; budget revenue; Budget planning and preparation; Fiscal risks; Europe; Global
Cover Technical Assistance Reports
Bangladesh: Technical Assistance Report-Ministry of Finance Macroeconomic Framework Technical Assistance: Scoping Mission Report
International Monetary Fund. Institute for Capacity Development
This technical assistance (TA) report presents the outcomes of the scoping mission of a new TA project aimed at building capacity in macroeconomic forecasting and policy analysis in the Finance Division (FD) of the Bangladesh Ministry of Finance (MoF). The FD has sought Macroeconomic Framework Technical Assistance from ICD and SARTTAC to support them in enhancing their Medium-term Macroeconomic Framework. A scoping mission was held in Dhaka in January 2023 to diagnose the FD’s current forecasting and policy analysis systems and to agree on a multi-year action plan. The project action plan is centered around the customization of the Macroframework Foundations Tool (MFT), which will support the FD in overcoming limitations in their current approach.
Keywords:
MOF Finance Division; IMF mission team; MEW staff; staff cohort; MOF cooperation; Macro-fiscal framework; Budget planning and preparation; Debt sustainability analysis; Budget execution and treasury management; Global
Cover High-Level Summary Technical Assistance Reports
South Africa: Fiscal Transparency Evaluation
Carolina Renteria Rodriguez
,
Trish N Chiinze
,
Sage De Clerck
,
Foyzunnesa Khatun
,
Natalie Manuilova
, and
Vincent Tang
South Africa has many elements of sound fiscal transparency practices. Based on an assessment of fiscal transparency practices against the IMF’s Fiscal Transparency Code, South Africa’s practices are strongest in fiscal reporting, followed by fiscal forecasting and budgeting, and weakest in fiscal risk analysis. South Africa’s Balance Sheet public sector net worth – including assumptions for the values of non-reported assets – is estimated to be 100 percent of GDP. There is room to improve South Africa’s fiscal reporting, budget transparency, and management of fiscal risks.
Keywords:
Fiscal transparency; fiscal reporting; budgeting; fiscal risks; budget transparency; budget credibility; State capture; procurement deficiency; risk category; Fiscal Transparency Evaluation (FTE); Budget planning and preparation; Africa
Cover IMF Staff Country Reports
Arab Republic of Egypt: First and Second Reviews Under the Extended Arrangement Under the Extended Fund Facility, Monetary Policy Consultation, and Requests for Waiver of Nonobservance of a Performance Criterion, and Augmentation and Rephasing of Access-Press Release; and Staff Report
International Monetary Fund. Middle East and Central Asia Dept.
This paper presents Arab Republic of Egypt’s First and Second Reviews under the Extended Arrangement under the Extended Fund Facility (EFF), Monetary Policy Consultation, and Requests for Waiver of Nonobservance of a Performance Criterion, and Augmentation and Rephasing of Access. A strong economic stabilization plan is being implemented to correct policy slippages. The plan is centered on a liberalized foreign exchange system in the context of a flexible exchange rate regime, a significant tightening of the policy mix, reducing public investment, and leveling the playing field to allow the private sector to become the engine of growth. While the recent sizable investment deal in Ras El-Hekma alleviates the near-term financing pressures, implementation of the economic policies under the program remains critical to address Egypt’s macroeconomic challenges. Robust delivery on structural reforms will be critical to lock in the benefits of the improved financing environment. IMF staff supports the authorities’ request for the completion of the first and second reviews under the EFF Arrangement.
Keywords:
interbank FX turnover; liberalized foreign exchange system; system functioning; fuel price subsidy; policy slippage; Fuel prices; Budget planning and preparation
Cover Technical Assistance Reports
Bosnia and Herzegovina-Republika Srpska: Technical Assistance Report –Public Investment Management Assessment (PIMA)
International Monetary Fund. Fiscal Affairs Dept.
There have been significant improvements in public investment management (PIM) in Bosnia and Herzegovina - Republika Srpska (RS) over the last decade and the legal and institutional design is now ahead of many regional comparators. The effectiveness of the PIM framework is lagging behind its design, and continued strong and consistent reform efforts will be important to eliminate remaining obstacles to efficient public investment. Many of these reforms are already underway or planned.
Keywords:
Public investment management assessment; PIMA; Infrastructure governance; project appraisal; medium-term fiscal planning; Bosnia and Herzegovina-Republika Srpska.; RS government; government of Republika Srpska; FAD mission; management institution; management in RS; D. investment allocation; Public investment spending; Budget planning and preparation; Capital spending; Infrastructure; Europe; Eastern Europe; Southern Europe; Global
Cover High-Level Summary Technical Assistance Reports
Mongolia: Public Investment Management Assessment Update
Guohua Huang
,
Ozlem Aydin
,
Lishuo Li
, and
Juana Aristizabal
An IMF team found that Mongolia has made progress in public investment management since the 2016 PIMA. However, several challenges persist, and new issues are emerging. The team has identified five high-priority recommendations that could improve PIM processes and support the effective implementation of the government's investment aspirations.
Keywords:
Public investment management; IMF team; high-priority recommendation; capacity development recipient; investment plan; project appraisal; Public investment spending; Public Investment Management Assessment (PIMA); Budget planning and preparation; Asia and Pacific
Cover Technical Assistance Reports
South Africa: Technical Assistance Report-Fiscal Transparency Evaluation
International Monetary Fund. Fiscal Affairs Dept.
South Africa has many elements of sound fiscal transparency practices. Based on an assessment of fiscal transparency practices against the IMF’s Fiscal Transparency Code, South Africa's practices are strongest in fiscal reporting, followed by fiscal forecasting and budgeting, and weakest in fiscal risk analysis. There is room to improve South Africa’s fiscal reporting, budget transparency and management of fiscal risks.
Keywords:
South Africa; Fiscal Transparency; Fiscal Reporting; Fiscal Risks; Budget planning and preparation; Economic sectors; Expenditure; Financial statements; Public financial management (PFM); Public sector.; IMF's Fiscal Affairs Department; Group chief financial officer; GFS Division; communication technology; Fiscal Affairs Department of the IMF; Public sector; Africa; Global
Cover IMF Staff Country Reports
Algeria: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Algeria
International Monetary Fund. Middle East and Central Asia Dept.
The 2023 Article IV Consultation discusses that the Algerian economy is estimated to have grown by 4.2 percent in 2023, a robust performance owing to a rebound in hydrocarbon production and strong performance in the industry, construction, and service sectors. The near-term outlook is broadly positive, but inflation remains a concern. Medium-term economic prospects hinge on efforts to diversify the economy and the ability to attract private investment, and are subject to several risks. The reforms embodied in the Monetary and Banking Law could be an impetus to strengthen the credit market infrastructure, develop long-term savings products, and advance financial inclusion. Sustained and bold reforms would tap the potential of the private sector as driver of sustained growth and job creation. The implementation of the Investment Law and the enactment of a new Land Law aim at fostering private sector initiative and investment and should be complemented with reforming the state-owned enterprises sector and making product and labor market more flexible.
Keywords:
market liquidity; liquidity-absorption operation; inflation risk; monetary policy tightening; credit assessment System; inflation pressure; hydrocarbon price; public finance; Algeria's CPI; Inflation; Budget planning and preparation; State-owned banks; Global; Middle East; North Africa; East Africa; Europe
Cover Technical Assistance Reports
Arab Republic of Egypt: Technical Assistance Report-Public Investment Management Assessment
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.
Keywords:
Arab Republic of Egypt; PIMA; Investment; Infrastructure; Efficiency; Climate.; General government debt; procurement system; Ministry of petroleum; authorities of the Arab Republic of Egypt; Ministry of housing; Public investment spending; Budget planning and preparation; Middle East; Global