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Business and Economics > Budgeting

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Cover IMF Staff Country Reports
Namibia: Technical Assistance Report-Assessing and Managing Fiscal Risks from State-Entities and Public-Private Partnerships
International Monetary Fund. Fiscal Affairs Dept.
This Technical Assistance report discusses measures proposed to assess and manage fiscal risks from state-owned entities and public-private partnerships in Namibia. Fiscal risks from public entities (PEs) materialize when funding requirements are higher than expected or revenues shortfalls occur. The government’s strategy for managing PE related fiscal risks should be informed by the likelihood of PE experiencing difficulties and, in such an event, the magnitude of the potential impact on the government. A two-step methodology was proposed for assessing the likelihood of fiscal risks materializing from PE. The authorities are also considering legislative amendments to strengthen the institutional arrangements for supervising PE.
Keywords:
ISCR; CR; PPP project; PPP portfolio; PPP law; PPP ceiling; PPP contract; Public investment and public-private partnerships (PPP); Fiscal risks; Contingent liabilities; Budget planning and preparation; Global; Southern Africa
Cover IMF Working Papers
A Rule-Based Medium-Term Fiscal Policy Framework for Tanzania
Mr. Daehaeng Kim
and
Mika Saito
A zero net domestic financing (NDF) target has served Tanzania well in recent years, contributing to prudent expenditure policy, improved fiscal sustainability, and macroeconomic stability. Moving to a more flexible fiscal policy, however, may serve Tanzania better. The "diamond rule" proposed in this paper incorporates a permanent hard ceiling on debt and annual benchmark limits on NDF, expenditure growth, and nonconcessional external financing. This rule would provide flexibility for countercyclical policy and help define the fiscal space for infrastructure spending that is consistent with longrun fiscal sustainability. An illustrative simulation shows that Tanzania has considerable fiscal space for development spending.
Keywords:
WP; debt ceiling; real GDP; expenditure policy; annual budget; debt sustainability; present value
Cover IMF Staff Country Reports
Namibia: Report on Observance of Standards and Codes: Fiscal Transparency Module
International Monetary Fund
The Government of Namibia has a full equity share of four specialist or policy banking corporation. There are a large number of public nonfinancial corporations, in which the government has a part or full ownership share, including public utilities and Air Namibia, the national airline. There are a number of statutorily and nonstatutorily created funds of the central government. There are two important funds for social security and pensions for government employees. Reforming the state-owned enterprise sector is one priority of the government, though the progress has been slow.
Keywords:
ISCR; CR; enterprise; government; final accounts; debt management; line item; tax liability; government regulation; state-enterprises' income; government policy; public funds; government function; government ministry; government program; fiscal policy objective; Budget planning and preparation; Auditing; Fiscal accounting and reporting; Medium-term budget frameworks; Southern Africa
Cover IMF Staff Country Reports
Namibia: Staff Report for the 2005 Article IV Consultation
International Monetary Fund
This 2005 Article IV Consultation highlights that Namibia recorded robust real GDP growth, falling inflation, a strong external current account surplus, and continued low external indebtedness over the last two years. Real GDP grew by 6 percent in 2004, as new marine technologies prompted a surge in diamond production and most other sectors of the economy showed solid economic activity, aided by a decline in interest rates. Growth slowed in 2005, as diamond production fell relative to the high production base of the previous year and growth rates in other sectors moderated somewhat.
Keywords:
ISCR; CR; government; Namibian authorities; outlay; expenditure side; authorities target ceiling; staff appraisal; SACU receipts; Government debt management; Africa; Sub-Saharan Africa; Southern Africa
Cover IMF Staff Country Reports
The Kingdom of Swaziland: 2005 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director
International Monetary Fund
Economic growth in Swaziland has weakened over the past decade. This 2005 Article IV Consultation highlights that real GDP growth decelerated to 2.1 percent in 2004 and an estimated 1.8 percent in 2005. A prolonged drought affected agricultural output, particularly maize, the main staple crop, and cotton. The authorities completed a “Poverty Reduction Strategy and Action Plan” in October 2004. The document spells out policies with the overall objective of halving the 1995 poverty rate by 2015. However, little progress has been made toward this and other Millennium Development Goals.
Keywords:
ISCR; CR; government; right; Swazi authorities; formulation exercise; Swaziland; revenue collection effort; government activity; oil import price; International reserves; Budget planning and preparation; Africa; Global