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Business and Economics > Budgeting

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Cover Policy Papers
2018 Quinquennial Review of the Funds Capacity Development Strategy: Concept Note
International Monetary Fund
(CD), including technical assistance (TA) and training, is one of the three core pillars of the Fund’s work. Its main objective is to help member countries build institutions and capacity necessary to formulate and implement sound economic and financial policies. The Institute for Capacity Development (ICD) was established in 2012 with a specific mandate to further define and develop the Fund's strategy on capacity building and provide a clear institutional framework to bring the coordination and oversight over TA and training activities under one umbrella, while building on partnerships with donors. The Fund’s capacity development strategy was last discussed by the Board in June 2013, and the Board subsequently endorsed the 2014 statement on IMF Policies and Practices on Capacity Development. The 2018 review of the CD strategy will include backward- and forward-looking components: The backward-looking component will consider the prioritization, funding, monitoring and evaluation, and delivery of CD as set out in the 2014 statement. The forward-looking component will provide the opportunity to outline reforms to increase the impact of CD. Emphasis will be on making CD more effective and efficient while building on its existing strengths. Conclusions from the 2018 review will be reflected in a revised statement on IMF Policies and Practices on Capacity Development.
Keywords:
PP; Capacity development; Fund; delivery; CD activity; CD priority; CD service; CD governance; CD knowledge; CD department; Budget planning and preparation; Western Hemisphere
Cover IMF Staff Country Reports
Tunisia: Fiscal Transparency Evaluation
International Monetary Fund. Fiscal Affairs Dept.
This paper identifies policies to increase productivity in the East, reduce regional income disparities, and promote overall income convergence. Achieving this objective will require improving educational attainment and reducing skill mismatches in the East, scaling up public infrastructure to attract investment to less productive regions, and facilitating labor mobility. This paper also discusses female labor participation in Poland and the potential impact on bank profitability of the recently implemented bank asset tax. Poland’s population is aging, yet it has an important underused source of qualified labor—its women. For Poland to unleash its full economic potential, it needs to embrace the vital contribution that women can make to its economy.
Keywords:
ISCR; CR; budget law; balance sheet; annual budget; central government; government budget; government appropriation; government asset; cash basis; Tunisian authorities; equity holding; budget documentation; contingent commitment; draft budget law; government accounting system; tax expenditure; government budget execution; Budget planning and preparation; Fiscal law; Financial statements; Public sector; Global
Cover Policy Papers
Arab Countries in Transition - Economic Outlook and Key Challenges
International Monetary Fund
In spite of deepening and spreading conflicts in the region, as well as, in many cases, a challenging internal socio-political environment, the Arab Countries in Transition (Egypt, Jordan, Libya, Morocco, Tunisia and Yemen) have broadly maintained macroeconomic stability. At the same time, however, their economies are not delivering the growth rates needed for a meaningful reduction in unemployment, in particular for the youth and women. Notwithstanding diversity of conditions, countries should quickly advance structural reforms to foster higher and more inclusive growth, and continue to strengthen fiscal and external buffers to maintain stability amid heightened uncertainty. Coordinated support from the international community will be crucial in the form of financing, improved trade access, and capacity building assistance.
Keywords:
PP; current account; monetary policy; excl. grant; exchange rate; economic activity; labor market; private sector; government balance; Current account deficits; Government debt management; Budget planning and preparation; Middle East; Global
Cover Policy Papers
Arab Countries in Transition - An Update on Economic Outlook and Key Challenges
International Monetary Fund
Despite uneven progress, there are early signs of improvement and macroeconomic stabilization in some Arab Countries in Transition (ACTs). 1 However, persistently weak growth and subdued private investment amid heightened regional insecurity continue to weigh on the task of reducing unemployment. This calls for accelerated reform efforts by the authorities to achieve higher, more inclusive, and more private sector-led growth, supported by external partners. In addition, mobilizing affordable external financing could help boost well-implemented public investment and provide a short-term impetus to growth and employment, thereby stabilizing difficult socio-political conditions on the ground and providing space for deeper structural reforms.
Keywords:
PP; job creation; economic activity; private sector; real GDP; trading partner; financial support; current account; government balance; Government debt management; Budget planning and preparation; Current account deficits; Inflation; Global; Middle East; Europe
Cover Policy Papers
Arab Countries in Transition - Economic Outlook and Key Challenges - Deauville Partnership Ministerial Meeting
International Monetary Fund
In an environment of heightened socio-economic tensions, regional insecurity, and strained public finances, the Arab Countries in Transition (ACTs) 1 face the difficult task of delivering on the expectations for jobs and growth. Despite patchy improvements in some countries, economic growth remains subdued, private investment is weak, and external and fiscal buffers are running low. Fostering social cohesion and avoiding a downward spiral of economic and political malaise calls for urgent implementation of economic reforms and coordinated support from the international community.
Keywords:
PP; excl. grant; exchange rate; job creation; monetary policy; foreign exchange; General government balance; financial support; government balance; reform program; grant financing; financing needs; transition countries' financing gap; credit growth; Current account deficits; Government debt management; Inflation; Budget planning and preparation; Global; Middle East; Deauville partnership ministerial meeting; countries in transition; title page; key challenge; North Africa; East Africa
Cover Policy Papers
Middle East and North Africa - Economic Outlook and Key Challenges - Deauville Partnership Ministerial Meeting
International Monetary Fund
Historic transitions in the Arab Spring countries are coming under increasing strain frommacroeconomic pressures and unmet social demands. Domestic uncertainty over the countries' future course, compounded by the global slowdown and rising oil prices, took a toll on growth during 2011. The outlook for 2012 and 2013 is equally challenging. The protracted political transition, lower global growth, and euro zone weakness are likely to result in a slow and drawn-out economic recovery, with unemployment at best stabilizing at high levels. Maintaining macroeconomic stability in this environment will be challenging, not least since policy buffers were reduced during 2011. Indeed, gross external and fiscal financing needs of MENA oilimporters are projected at about $93 and $103 billion, respectively, in 2012-13. With capital markets expected to provide only a small part of these funds, official financial support will be essential to allow countries to continue on their path toward economic transformation. But at the same time, countries need to make tangible progress on that path. This requires bold reform and modernization agendas that command broad consensus and are embedded in a sustainable medium-term macroeconomic policy framework to build confidence, anchor expectations, and pave the way for sustained and inclusive growth.
Keywords:
PP; job creation; economic recovery; labor market; central bank; economic activity; exchange rate; GDP growth; Government debt management; Current account deficits; Budget planning and preparation; Unemployment; Global; Europe; Middle East
Cover IMF Staff Country Reports
Tunisia: Report on the Observance of Standards and Codes
International Monetary Fund
This report evaluates the Observance of Standards and Codes on data dissemination, fiscal transparency, the transparency of monetary policy, banking supervision, and securities market regulation for Tunisia. The assessment reveals that Tunisia has already achieved a considerable degree of transparency in fiscal management. Further improvements in data preparation and dissemination have come about recently during the process of subscribing to the Special Data Dissemination Standards. In addition, the implementation of the new tax code (code des procedures fiscales) has further clarified the rights and obligations of taxpayers and the government on matters relating to taxation.
Keywords:
ISCR; CR; government; report; government web site; outturn; monetary policy; annual budget report; FSAP report; government's holding; equity holdings of the government; Budget planning and preparation; Financial Sector Assessment Program