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Business and Economics > Budgeting

You are looking at 1 - 10 of 107 items for :

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Cover IMF Staff Country Reports
Qatar: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Qatar
International Monetary Fund. Middle East and Central Asia Dept.
Growth normalization after the 2022 FIFA World Cup continued with signs of activities strengthening more recently. Fiscal and external surpluses softened mainly due to lower hydrocarbon prices. Banks are healthy but pockets of vulnerabilities remain. Reform momentum has strengthened, guided by the Third National Development Strategy (NDS3).
Keywords:
Qatar national; holdings of SDR; Qatari economy well; headline inflation; hydrocarbon price; Anti-money laundering and combating the financing of terrorism (AML/CFT); Public sector; Capital spending; Global
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
Slovak Republic: Technical Assistance Report-Fiscal Transparency Evaluation
International Monetary Fund. Fiscal Affairs Dept.
This Technical Assistance report on the Slovak Republic focuses on the Fiscal Transparency Evaluation. The evaluation in this report confirms Slovakia’s generally strong record of accomplishment on fiscal transparency. It shows that most aspects of Slovakia’s fiscal reporting, budgeting and risk management are in line with the good or advanced practices of the IMF’s Fiscal Transparency Code (FTC). It highlights that the broad coverage of institutions in fiscal reports, which extends across the whole public sector, both in terms of stocks and flows, makes Slovakia one of the world leaders in the reporting of a public sector balance sheet. The evaluation also highlights several areas where Slovakia’s fiscal transparency practices could be further improved. In addition to the evaluation against the FTC, this report provides a series of recommendations to address the above-mentioned gaps. These recommendations are actionable and targeted and have been selected according to the importance of the key issues facing Slovakia. The report also compiles a public sector balance sheet for Slovakia using publicly available information and information supplied by the authorities and provides a comparison with country peers.
Keywords:
General government investment; local government; government finance statistics manual; multiannual expenditure ceiling; authorities of the Slovak Republic; Budget planning and preparation; Public sector; Financial statements; Global
Cover IMF Staff Country Reports
Cyprus: Technical Assistance Report–Strengthening the Governance and Oversight of State-Owned Enterprises
International Monetary Fund. Fiscal Affairs Dept.
This paper presents Cyprus’ technical assistance report on strengthening the governance and oversight of state-owned enterprises (SOE). Cyprus' government has implemented measures to enhance financial oversight and strengthen the governance of SOEs over several years. The ongoing reforms have already yielded positive results. Additional measures are needed to strengthen SOEs corporate governance and accountability practices. Establishing and regularly updating a consolidated inventory of public entities is essential to ensure SOE accountability. Good SOE governance requires a coordinated and sequential approach to reforms. Coordination among various stakeholders and decision makers is paramount and calls for developing and publishing a reform strategy with benchmarks to track progress. A SOE ownership policy should also be developed. This policy could outline the state's ownership rationale and define the roles and responsibilities of the institutions involved in SOE oversight and governance to provide clarity on the objectives and guidelines for effective ownership and management of SOEs. The policy should set clear accountability lines of respective agencies involved in the SOE ownership, governance, and oversight process. Their responsibilities would depend on the chosen ownership model the government will decide.
Keywords:
Cyprus SOE Governance; request of the Ministry of Finance; IMF's Fiscal Affairs Department; oversight of state-owned enterprises; Cyprus asset management company Ltd; Public enterprises; Fiscal risks; Public sector; Budget planning and preparation; Corporate governance; Europe
Cover IMF Staff Country Reports
Federated States of Micronesia: Technical Assistance Report-Government Finance Statistics Mission (October 25-November 2, 2021)
International Monetary Fund. Statistics Dept.
A virtual technical assistance (TA) mission supported by the IMF’s Asia and Pacific Department (APD) was conducted by the IMF Statistics Department (STA) and the Pacific Financial Technical Assistance Centre (PFTAC) during October 25 – November 2, 2021. The mission assisted the Department of Resources and Development (DoRD), National Statistics Office (NSO) improving the compilation and dissemination of Government Finance statistics (GFS) and Public Sector Debt Statistics (PSDS) according to the Government Finance Statistics Manual 2014 (GFSM2014) and the Public-Sector Debt Statistics Guide 2011 (PSDSG 2011). The mission was conducted under the Data for Decisions (D4D) trust fund,1 a multi-donor initiative aimed at strengthening the quality of national statistical outputs to better support economic policy making in low-and lower-middle income countries and the PFTAC GFS capacity development project.
Keywords:
gap analysis; statistics compilation; IMF's Statistics Department; World Bank staff; Federated States of Micronesia telecommunications cable corporation; Government finance statistics; PFM information systems; Public sector; Chart of accounts
Cover IMF Staff Country Reports
Republic of Azerbaijan: Technical Assistance Report-Government Finance Statistics Missions (May 17-21 and July 22-August 4, 2021)
International Monetary Fund. Statistics Dept.
Following the launch of the Caucasus, Central Asia, and Mongolia Regional Capacity Development Center (CCAMTAC) in February 2021, and in response to a request from the Azerbaijani authorities to support their statistical capacity development (CD) in government finance statistics (GFS), a series of technical assistance (TA) missions took place remotely (via Zoom meeting platform) during May 17−21 and July 22−August 4, 2021. Both missions were conducted by Mr. Roderick O’Mahony (GFS expert), who worked with the staff of the Ministry of Finance’s Medium-Term Expenditure Framework (MTEF) Development Center as the main counterparts. He also met with other relevant agencies, including the State Oil Fund of the Republic of Azerbaijan (SOFAZ), the State Employment Agency, and the State Social Protection Fund.1
Keywords:
IMF-World Bank database; GFS compiler; IMF's Statistics Department; source data provider; authorities of Armenia; Government finance statistics; Medium-term budget frameworks; Financial statements; Budget planning and preparation; Public sector; Central Asia
Cover IMF Staff Country Reports
Mexico: Technical Assistance Report-Strengthening Public Assets and Liabilities Management
International Monetary Fund. Fiscal Affairs Dept.
The Ministry of Finance and Public Credit (SHCP) of Mexico intends to strengthen public asset and liability management (ALM) practices. The 2018 Fiscal Transparency Evaluation (FTE) identified several gaps in reporting public sector assets and liabilities and analysis of the associated risks. The authorities have identified the need for further reforms in three interrelated areas: (i) adopt the public sector balance sheet (PSBS) analytical framework to inform policy making; (ii) move toward more active cash management; and (iii) strengthen the management of financial assets and introduce a sovereign assets and liabilities management (SALM) framework in a phased manner. This report provides recommendations for reforms in these three areas.
Keywords:
financial assets management; Banco de México; balance sheet strength indicator; public sector financial assets; I. public sector balance sheet compilation; IMF's Fiscal Affairs Department; Public sector; Financial statements; Government asset and liability management; Currencies; Extra-budgetary funds; Global; Australia and New Zealand; Africa
Cover IMF Staff Country Reports
Chile: Fiscal Transparency Evaluation
International Monetary Fund. Fiscal Affairs Dept.
Strong fiscal institutions have contributed to Chile’s macroeconomic stability, and recent reform initiatives have focused on enhancing these institutions and fiscal transparency. This report assesses fiscal transparency practices in Chile in relation to the requirements of the IMF’s Fiscal Transparency Code and confirms that many elements of sound fiscal transparency practices are already in place. Chile’s practices meet the principles of the code at a good or advanced level for 21 out of the 36 principles. This is a good score, compared to the average for Latin American Countries and Emerging Market Economies. On a further nine principles, Chile meets the basic standard of practice. Chile’s fiscal transparency practices are very strong for fiscal forecasting and budgeting, followed by fiscal reporting, while fiscal risk analysis and management demonstrate more mixed results. Further improvements could be achieved relatively easily through the publication of some internal analyses or through a more timely or user-friendly publication of already available information.
Keywords:
IMF mission team; government finance statistics manual; Chilean authorities; IMF's Fiscal Affairs Department; IMF team; Budget planning and preparation; Fiscal risks; Financial statements; Government finance statistics; Global; Africa
Cover IMF Staff Country Reports
Republic of Kazakhstan: Technical Assistance Report-Government Finance Statistics
International Monetary Fund. Statistics Dept.
The mission welcomes the progress made by the RK in improving the quality of GFS. The Ministry of Finance has taken into account several recommendations of the previous mission on increasing transparency, improving data quality, and regarding the channels used to provide GFS. In particular, updated bridge tables are used when generating statistics, National Fund (NF) data are recorded separately from national budget (NB) data, and GFS are disseminated through the IMF Integrated Data Collection System.
Keywords:
E. government sector debt statistics; General government sector; authorities of the Republic of Kazakhstan; C. budget classification; government entity; Government finance statistics; Public sector; Budget classification
Cover IMF Staff Country Reports
Republic of Estonia: Technical Assistance Report-Fiscal Transparency Evaluation
International Monetary Fund. Fiscal Affairs Dept.
The government of Estonia places a high importance on openness and transparency, both for their citizens and for regional and international partners. This is evidenced from various earlier reports on transparency and the implementation of many subsequent improvements in fiscal transparency practices. The objective of the assessment was to identify areas of fiscal risk vulnerabilities and reform priorities to ensure further improvements in transparent practices.
Keywords:
General government Fiscal; government finance statistics manual; General government assets; General government debt; General government investment; Subnational government; Budget planning and preparation; Financial statements; Fiscal risks; Public sector; Europe; Western Europe; Global; Baltics; Africa