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Asia and Pacific > Thailand

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Cover IMF How To Notes
How to Develop and Implement a Medium-Term Fiscal Framework
Teresa R Curristine
,
Isabell Adenauer
,
Virginia Alonso-Albarran
,
John Grinyer
,
Koon Hui Tee
,
Claude P Wendling
, and
Delphine Moretti
This Note provides guidance on developing and implementing a medium-term fiscal framework (MTFF). MTFFs aim to promote fiscal discipline and sustainability, transparency, and better-informed fiscal decisions. An MTFF comprises a set of institutional arrangements for prioritizing, presenting, reporting, and managing fiscal aggregates - revenue, expenditure, balance, and debt - generally over a three-to-five-year period. It incorporates a fiscal strategy, medium-term projections of key macroeconomic variables and fiscal aggregates, and ceilings on total expenditure to guide subsequent annual budgets. By introducing a medium-term perspective into fiscal and budgetary decision making, MTFFs provide a clearer understanding of the impact, trade-offs, and risks of policy choices. MTFFs contribute to enhancing transparency and accountability by communicating the government’s medium-term fiscal goals, policies, and fiscal performance. Ultimately, clarity on medium-term fiscal plans and on their effective implementation can bolster confidence in the government’s ability to manage its finances prudently and competently. In addition to providing guidance on how to design an MTFF and the institutional and technical arrangements needed to support implementation, the Note discusses key challenges and presents country examples from across the globe by income group and concludes with lessons learned.
Keywords:
fiscal frameworks; fiscal planning; budget cycles; MTFF; medium-term fiscal framework; emerging market economy country example; MTFF specification; koon hui tee; MTFF projection Tool; MTFF time horizon; Budget planning and preparation; Fiscal rules; Fiscal risks; Caribbean
Cover IMF Staff Country Reports
Lao People’s Democratic Republic: Technical Assistance Report-Government Finance Statistics and Public Sector Debt Statistics
International Monetary Fund. Statistics Dept.
This technical assistance (TA) report on government finance statistics (GFS) covers the remote TA to the Ministry of Finance (MOF) during September 21–October 2 and December 14–18, 2020 and March 9–13 and April 19–23, 2021 (which was extended to May 2021). These peripatetic activities were conducted remotely due to the travel restrictions resulting from the COVID-19 situation. This report documents the main achievements from these activities. These activities were part of the GFS and Public Sector Debt Statistics (PSDS) project funded by the Government of Japan (JSA3) and implemented by the IMF Statistics Department (STA) and the IMF Capacity Development Office in Thailand (CDOT).
Keywords:
MOF website; IMF capacity development office; IMF's Statistics Department; MOF staff; government finance information system; TA for April; Government finance statistics; COVID-19; Budget planning and preparation; Data collection; Budget execution and treasury management
Cover Policy Papers
FY2014-FY2016 Medium-Term Budget
International Monetary Fund
The proposed FY 14–16 Medium-Term Budget was formulated within the Fund’s strengthened strategic planning framework and seeks to align the allocation of resources to the delivery of institutional priorities. Despite the additional resources that have been provided to meet crisis demands, crisis related work and overall work pressures remain elevated. At the same time, available resources are not being fully utilized. Therefore, the budget strategy—instead of asking for further additional resources—is geared toward making more efficient use of existing resources to reduce work pressures and meet new demands.
Keywords:
PP; fy; staff; capital budget; overtime; work pressure; contingency reserve; budget envelope; budget formulation flow; resource allocation; staff position; total spending; budget proposal; budget strategy; Budget planning and preparation; Personal income; Total expenditures; Global
Cover Japan Administered Account for Selected IMF Activities (JSA)--Annual Report for Fiscal Year 2009
Japan Administered Account for Selected IMF Activities (JSA)--Annual Report for Fiscal Year 2009
International Monetary Fund

Abstract

This paper provides a brief description of the IMF and its activities, focusing in particular on its technical assistance (TA) activities. The report then describes in greater detail the Japan Administered Account for Selected Fund Activities (JSA)—including its scope and objectives, the size and uses of the TA contribution, and assessments of its TA activities and scholarship programs—with a focus on fiscal year (FY) 2009. Japan has provided grant contributions to support IMF technical assistance to member countries since 1990. In 1997, the scope of the administered account was widened to allow for financing other IMF activities in Asia and the Pacific, carried out through the IMF Regional Office for Asia and the Pacific in Tokyo. Regular consultations are held between the IMF and the Japanese authorities; the most recent formal meeting took place in April 2009. The use of JSA resources is flexible. JSA funds can be used to cover the cost of short- and long-term TA experts and other costs associated with conducting seminars and workshops, such as room rental fees.

Keywords:
MISC RPT; MISC; Accounts-Japan Financial Statement Fy2009; Japan; audit of the JSA; annual audit; certificate of completion; fund activity; Budget planning and preparation; Bank supervision; Tax administration core functions; Asia and Pacific; Africa; Central Asia; Middle East; Middle East and Central Asia; TA activity; review mission; IMF TA; scholarship program; IMF expert; IMF customs expert; IMF department; IMF economist; Anti-money laundering and combating the financing of terrorism (AML/CFT); Capital markets; Financial Sector Assessment Program; Caribbean
Cover IMF Staff Country Reports
Thailand: Report on Observance of Standards and Codes: Fiscal Transparency Module
International Monetary Fund
This paper discusses key findings of the assessment on observance of standards and codes on fiscal transparency for Thailand. The assessment reveals that Thailand meets requirements of the fiscal transparency code in many respects and exceeds them in a few cases. The legal framework underlying public finance is broadly sound. The budget process is well specified. The legal framework for public debt management is clear, and reporting of public debt is transparent. The National Counter-Corruption Commission and the Office of Auditor General provide important independent checks on the integrity of public finances.
Keywords:
ISCR; CR; private sector; annual budget; budget year; bank account; final accounts; fiscal policy; public finance; government practice; Budget planning and preparation; Fiscal accounting and reporting; Budget execution and treasury management; Public investment and public-private partnerships (PPP)
Cover IMF Staff Country Reports
Indonesia: Selected Issues
International Monetary Fund
This Selected Issues paper on Indonesia explains through econometric analysis the contribution of different factors to export growth and assesses the prospects for its maintenance in the future. The paper reviews developments in Indonesian export growth since 1970. It develops a model of export demand and export supply, provides empirical estimates from the model, and the implications of the results. The paper also addresses medium-term prospects for export growth on the basis of the estimated model and the possible impact of exchange rate changes.
Keywords:
ISCR; CR; bank; Indonesia; poverty; exchange rate; poverty reduction; targeted poverty program; poverty indicator; aggregate cash profit transfer; distribution concern; fiscal policy; poverty incidence; Exports; Poverty reduction; Capital flows; Budget planning and preparation; Export performance; Asia and Pacific; Global
Cover IMF Staff Country Reports
Lao People's Democratic Republic: Recent Economic Developments
International Monetary Fund
This paper reviews economic developments in Lao People’s Democratic Republic (PDR) during 1992–95. To highlight in more detail the factors that contributed to Lao PDRs macroeconomic performance during 1992–95, the paper analyzes the developments in macroeconomic variables and policy actions. It also notes that real GDP growth, averaging about 7 percent during 1992–95, was attributable to a rapid expansion of manufacturing, construction, and tourism, as well as strong growth in agriculture in 1992 and 1994.
Keywords:
ISCR; CR; U.S. dollar; broad money; exchange rate; central bank; foreign direct investment; real GDP; Lao P.D.R.; Lao authorities; banking system; land tax; capital expenditure; Commercial banks; Exports; Agroindustries; Budget planning and preparation; Imports; East Asia