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Middle East and Central Asia > Uzbekistan, Republic of

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Cover IMF Staff Country Reports
Republic of Uzbekistan: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
This Selected Issues paper discusses key channels by which fiscal consolidation impacts short- and medium-term growth, examines the international experience on how to make fiscal consolidation more growth friendly, and analyzes policy implications for Uzbekistan. A large part of the adjustment is implemented with high-quality efficiency-enhancing measures: reducing energy subsidies, improving the targeting of social spending, and curbing policy lending. The World Bank Public Expenditure Review notes that nonwage spending in health and education is low and crowded out by high wage bills, which have been growing in recent years as efforts to improve pay in these areas were implemented. This points to the need to review the adequacy of nonwage spending in these sectors and undertake wage bill rationalization more broadly since these are large sectors of public employment. In the specific case of health spending, consideration should be given to strengthening primary care and introducing task-shifting which will lead to greater efficiency from health wage bill expenditure by shifting its composition over the medium term. Unify the public investment process irrespective of the financing source; create a unified appraisal and selection process; establish a single project pipeline; and improve project monitoring and evaluation to increase public investment efficiency.
Keywords:
market regulation; privatizing state enterprises; impact of fiscal consolidation; channels of impact; government data; Fiscal consolidation; Corruption; Global; Central Asia and the Caucasus; Asia and Pacific
Cover IMF Staff Country Reports
Republic of Tajikistan: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
Selected Issues
Keywords:
Tajik banking sector; sample estimation; Tajik rail road; SOE Sector; B. tax revenue performance; Tajik cement; staff team of the International Monetary Fund; Tajik telecom; Fiscal risks; Commercial banks; Contingent liabilities; Nonperforming loans; Central Asia
Cover IMF Working Papers
Tax Potential vs. Tax Effort: A Cross-Country Analysis of Armenia's Stubbornly Low Tax Collection
Mr. David A. Grigorian
and
Mr. Hamid R Davoodi
Despite recording double digit growth since 2000, Armenia's tax-to-GDP ratio has been fairly stable at about 14½ percent. This paper catalogues a range of factors that may account for Armenia's stubbornly for tax collection by benchmarking Armenia's tax-to-GDP against some comparator countries and conducting an extensive econometric study of the main determinants of tax collection. We find empirical support for the hypothesis that the persistence of Armenia's low tax-GDP ratio can be traced to persistence of weak institutions and a large shadow economy. The gap between the potential and actual tax collection in Armenia could be as high as 6½ percent of GDP. We conclude with some policy recommendations that, if adopted, can boost revenue buoyancy.
Keywords:
WP; Armenia; tax revenue; tax potential; tax collection; institutions; shadow economy; tax-to-GDP ratio; CIS country; tax effort; revenue buoyancy; VAT collection; tax performance; tax morale; small share; Income and capital gains taxes; Tax administration core functions; Informal economy; Middle East and Central Asia
Cover IMF Staff Country Reports
Kyrgyz Republic: Staff Report for the 2006 Article IV Consultation, Third Review Under the Poverty Reduction and Growth Facility, and Request for Waiver of Structural Performance Criterion
International Monetary Fund
The Kyrgyz authorities have maintained macroeconomic discipline in recent years, despite a challenging political environment. This 2006 Article IV Consultation highlights that the economic activity is rebounding in 2006, with year-over-year real GDP growth of 3.2 percent through September, after a slight contraction in 2005. Inflation is projected to rise slightly to just below 6 percent during 2006. Remonetization has gathered pace in recent years, but the financial system remains relatively shallow by international standards. Comprehensive financial reforms are under way and are slated to gain momentum under the IMF-supported program.
Keywords:
ISCR; CR; Kyrgyz authorities; government; Kyrgyzstan; government authorization; Bank FSAP update mission; staff visit; fund staff; PRGF arrangement; Currencies; Capital spending; Central Asia
Cover IMF Staff Country Reports
Republic of Kazakhstan: Statistical Appendix
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; oil revenue; net export; enrollment ratio; time deposit; net enrollment ratio; net credit; net tax; credit to government; national bank of Kazakhstan; Nontax revenue; Oil; Agricultural commodities; gas and mining taxes; Natural gas sector; Baltics
Cover IMF Staff Country Reports
Republic of Kazakhstan: Statistical Appendix
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; bottom; oil revenue; national bank of Kazakhstan; extraction industry; net lending; time deposit; production value; Agricultural commodities; Oil; gas and mining taxes; Natural gas sector; Baltics
Cover IMF Working Papers
Priorities for Further Fiscal Reforms in the Commonwealth of Independent States
Mr. Henri Lorie
Building on the substantial progress made in establishing fiscal systems consistent with market economies, the paper identifies priorities for further fiscal structural reforms among the Commonwealth of Independent States (CIS) countries. Activities of extra budgetary accounts and quasi-fiscal activities need to be brought into the budget framework. Although there is room for improvements, the CIS countries now have, broadly, levels of tax revenues and expenditures not out of line with the international norm, taking into account income levels. The main challenges they face are to further increase the market friendliness of taxation and to implement an efficiency-improving structural reform of the expenditure system while strengthening control and accountability.
Keywords:
WP; CIS country; government; country; wage; enterprise; Fiscal Reforms; Former Soviet Union; tax revenue; state budget; General government expenditure; transition country; tax authorities; transition countries group characteristic; contingent government liability; government policy priority; government control; CIS dummy variable; Budget planning and preparation; Tax administration core functions; Central Asia and the Caucasus; Eastern Europe; Central Asia; Global
Cover IMF Staff Country Reports
Kyrgyz Republic: Recent Economic Developments
International Monetary Fund
This paper describes economic developments in the Kyrgyz Republic during the 1990s. The cash fiscal deficit increased from 7.7 percent of GDP in 1994 to 12.5 percent of GDP in 1995. The authorities encountered difficulties in raising revenues early in the year, but with the implementation of measures to strengthen tax collection, taxes were maintained at about 13.5 percent of GDP for the year as a whole. However, total budget revenues fell from 21 percent of GDP in 1994 to 16 percent of GDP in 1995, reflecting a sharp decline in central bank profit transfers and food grants.
Keywords:
ISCR; CR; Kyrgyz authorities; CIS country; broad money; first quarter; Kyrgyz authority; tax revenue; state enterprise; commercial bank; Imports; Exports; Agricultural sector; Agricultural commodities