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Comments on Future Fiscal Actions and Budget Developments

Rasche, Robert H.
Fonte: William E. Simon Graduate School of Business Administration, University of Rochester Publicador: William E. Simon Graduate School of Business Administration, University of Rochester
ENG
Relevância na Pesquisa
46.05%
I have been asked to attempt to provide some information on a number of issues with respect to the Federal Government Budget over the next few years. Specifically, 1) how soon will the bud-get get near balance again (presuming no additional discretionary fiscal policy actions, and what will it look like after that; 2) what would it look like with another tax cut; 3) should there be another tax cut; and 4) what resources will be absorbed when we get back to full employment?

Federal Budget Outlook -- A Report to the SOMC

Levy, Mickey D.
Fonte: William E. Simon Graduate School of Business Administration, University of Rochester Publicador: William E. Simon Graduate School of Business Administration, University of Rochester
ENG
Relevância na Pesquisa
46.27%
Projections of the FY1984 budget deficit have been revised downward, to $179.7 billion by the Administration...Any optimism about these forecasts of declining deficits, however, must be tempered. Both forecasts assume the enactment of substantial deficit-cutting legislation, and such action may not be politically feasible, at least on the short-term horizon. Also, although there is much uncertainty about the economic outlook, some of the assumptions underlying these projected budget outcomes may be too optimistic. Consequently, budget deficits may be higher than these projections indicate.

A Federal Budget Update

Levy, Mickey D.
Fonte: William E. Simon Graduate School of Business Administration, University of Rochester Publicador: William E. Simon Graduate School of Business Administration, University of Rochester
ENG
Relevância na Pesquisa
46.18%
The current rendition of the budget process may suggest little "progress." But in fact a string of budget legislation since the mid-1980s has yielded a substantial net shift in the budget: federal spending has declined sharply as a share of GNP, deficits have receded and the budget excluding net interest outlays is now in surplus, and the ratio of federal debt-to-GNP has stabilized. Yet the mix of federal spending continues to shift, with a rising share for entitlement programs, and a declining portion for investment and growth-enhancing activities. And a steady stream of costly new spending legislation has been proposed with little discussion of how it will be financed.

The Balanced Budget Amendment: Treating the Symptom but Not the Disease

Plosser, Charles I.
Fonte: William E. Simon Graduate School of Business Administration, University of Rochester Publicador: William E. Simon Graduate School of Business Administration, University of Rochester
ENG
Relevância na Pesquisa
46.05%
The new Republican Congress has made a balanced-budget amendment to the Constitution a cornerstone of its Contract with America. There are at least two levels on which one can discuss the merits of such a proposal. One is purely economic in nature while the other is based on a proposition regarding the outcome of the political process. The real disease faced by Congress is its inability to effectively subject itself to enforceable control mechanisms that limit spending. The Federal deficit is simply one possible way, among many, that this lack of control can manifest itself. Without confronting the spending decisions a cure is unlikely to be found.

Budget Progress?

Levy, Mickey D.
Fonte: William E. Simon Graduate School of Business Administration, University of Rochester Publicador: William E. Simon Graduate School of Business Administration, University of Rochester
ENG
Relevância na Pesquisa
46.15%
Washington policymaker, still fixated on budget deficits, see great "progress" in the budget. From a peak of $290 billion in Fiscal Year 1992, the deficit will be apporximately $205 billion in 1994 (which concludes this September)and is projected to fall to approximately $170 billion in 1995. Thus, excluding net interest outlays, the budget will be in surplus for the first time since 1989. But when evaluated from other equally important fiscal policy considerations, this progress is illusory.

Federal Budget Realities and the Need for Policy Reform

Levy, Mickey D.
Fonte: William E. Simon Graduate School of Business Administration, University of Rochester Publicador: William E. Simon Graduate School of Business Administration, University of Rochester
ENG
Relevância na Pesquisa
46.05%
*The debate about the federal budget during the Presidential election was predictably frustrating, focused on the short run and full of mudslinging about the shift from cash-flow surplus to deficit. In fact, spending on key entitlement programs has significant built-in momentum, and both political parties have advocated expanded spending programs. With the election season over, now’s the time to enact structural reforms that improve program efficiencies and narrow the government’s long-run financing imbalance.

The Republic of Uganda - Public Expenditure Review : Report on the Progress and Challenges of Budget Reforms

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
36.47%
This PER emphasizes the importance of the government and its development partners developing a systematic program and a sequenced approach to address identified concerns to allow Uganda to achieve macrostability, fiscal sustainability, and poverty reduction. The report is organized in seven chapters. Chapter 1 discusses the macro challenges Uganda faces and how these are linked to fiscal considerations. Macrostability has largely been achieved with satisfactory growth rates higher than in the previous year. But the unprecedented terms of trade shock has resulted in the decline of total receipts from exports. The reduction of foreign exchange revenues in combination with lower revenue collections has led to fiscal constraints. Chapter 2 notes the need to ensure stakeholder contribution to the budget process and to improve quality of budget planning, choices, and predictability. Chapter 3 analyzes the health, education, and water and sanitation sectors and describes the great progress made in aloocative efficiency --although these sectors are experiencing major challenges in achieving operational efficiency. Chapter 4 discusses how the government has "commitment control systems (CCSs)" to address the problem of arrears. Chapter 5 identifies how Uganda uses tracking systems to identify problems in flow of funds. Chapter 6 discusses the growing challenges for budget preparation...

Comprehensive Public Expenditure Review 2013 : Eye on Budget - Spending for Results; Kenya - Toleo lililorahisishwa uchunguzi wa matumizi ya pesa za umma : tathmini ya bajeti - matumizi yenye matokeo bora

Ministry of Devolution and Planning
Fonte: Government of Kenya, Nairobi Publicador: Government of Kenya, Nairobi
Tipo: Economic & Sector Work :: Public Expenditure Review; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
36.42%
This public expenditure review (PER) provides an assessment of the extent to which expenditure addresses national priorities in an effort to strengthen the link between government policies, planning, and budgeting. This report is prepared to provide a critical assessment of public spending, challenges, weaknesses, and successes in the past three years (2009 to 2012). The report subsequently informs current and future expenditure through policies that influence budget decisions. It links public expenditure to performance of key sectors in the economy for the three year period; while giving policy and performance outlook focusing on the implementation of the constitution of Kenya 2010 in general and devolution in particular. This report gives an outline on sector performance of programs and reviews expenditures for the period. It provides recommendations to improve implementation of the budget in terms of efficiency, effectiveness, timeliness, and target for better service delivery. This report accentuates the institutional reforms underpinned in the constitution of Kenya 2010 and explores the opportunities to catalyze Kenya's growth as envisaged in the economic blue print...

Afghanistan : Building an Effective State, Priorities for Public Administration Reform

World Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Economic & Sector Work :: Other Public Sector Study; Economic & Sector Work
ENGLISH
Relevância na Pesquisa
36.59%
This report looks at the implications for public administration reform over the next 5-10 years, and proposes a priority agenda for action by the Government of Afghanistan (GOA) and the donor community. The report reviews the prospects and priorities for public administration reform in three key areas: building an effective civil service, improving local governance and service delivery, and making government accountable to the people. This report has made the case that public administration reform in Afghanistan is both very important and very difficult: very important because it will provide the Government o f Afghanistan with the capacity to respond to popular demands for good governance and improved service delivery; very difficult, because of the inherent challenges o f institutional change, especially in the current political and security situation in Afghanistan. Public Administration Reform (PAR) is a long-term task -This will require persistent effort over time, as well as innovative approaches to improve service delivery in the short and medium terms. Afghanistan's experience over the past five years...

Peru - Restoring Fiscal Discipline for Poverty Reduction : A Public Expenditure Review

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Public Expenditure Review; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
36.47%
This public expenditure review is produced jointly by the World Bank and the Inter-American Development Bank, and focuses on social sectors spending and leaves aside infrastructure and other sectors. This report, finalized in June 2002 and discussed with Authorities in mid-August 2002, does not take into account policy developments occurring after this time. The report is organized as follows: Chapter 1 presents a synthesis of Peru's public expenditure reform agenda from the Bank's perspective. It is based on, and distills, the thematic chapters that make up this report. Chapters 2-4 examine the core functions of public expenditure management: macro fiscal aggregates, resource allocations to strategic sectors, and microeconomic efficiency of public spending. Chapters 5-8 explore selected themes, such as the decentralization of public administration and the social sectors; civil service reform; governance and corruption; and and mining fiscal and environmental issues. These chapters are, in turn, supported by fifteen topic-specific background papers...

Uganda - Public Expenditure Review 2003 : Supporting Budget Reforms at the Central and Local Government Levels

World Bank
Fonte: Washington DC Publicador: Washington DC
Tipo: Economic & Sector Work :: Public Expenditure Review; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
36.42%
This 2003 Public Expenditure Review (PER) report addresses budget process challenges, at both the central and local government (LG) levels, highlighting the progress made, and identifying challenges for the future. The first chapter reviews country economic performance over the previous year and its implications for fiscal performance. In addition to tracking the various macroeconomic indicator trends, the chapter highlights areas of challenge in the economy, and includes an expanded section on the challenges of managing the recent fiscal deficit trends. Chapter 2 discusses the budget process, including issues concerning the preparation of the budget, the roles of the sector working groups, and progress made in the preparation of sector budget framework papers. The chapter also comments on the quality and depth of participation of various stakeholders in the budget process. Chapter 3 addresses budget execution challenges in Uganda during the last budget cycle. Problems encountered in budget execution - non-programmed allocation of resources during the course of the year...

Islamic Republic of Pakistan : Country Financial Accountability Assessment

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Country Financial Accountability Assessment; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
36.42%
The objective of the CFAA is to enhance knowledge of public financial management (PFM) and accountability arrangements in Bank's client countries. As a diagnostic tool, the CFAA supports the Bank's fiduciary responsibilities by identifying strengths and weaknesses of PFM so that potential risks to Bank funds can be managed. It also supports the Bank's development objectives by facilitating common understanding with the borrower and other development partners to assist in the design of PFM capacity building programs. The CFAA can also be used by the Government of Pakistan (GoP) to manage its internal finances and to strengthen accountability frameworks. This Country Financial Accountability Assessment concludes that there are substantial opportunities for consolidating current reforms and for introducing additional reforms to further strengthen public financial accountability. This will require sustained policy level commitment. The Government's will to reform is evidenced by the scale and variety of actions underway at the Federal and provincial levels. The Government of Pakistan has already embarked upon wide ranging reforms to improve budgetary and accounting systems and internal control arrangements. These reforms are now starting to show results: The risks of revenue shortfalls have been reduced with the initiation of tax policy and tax administration reforms ~ The risks of increasing excess debt have been reduced by more controlled budgeting and debt management though the use of the Medium-Term Budget Framework (MTBF) and the establishment of the Debt Office The risks of late and inaccurate federal annual accounts have been reduced by improved accounting controls introduced by the Controller General of Accounts (CGA) in compilation of accounts and the Fiscal Monitoring Committees in encouraging reconciliations. The risks of limited transparency in accounts at all levels have been reduced by the decisions to give the Auditor General responsibility for certification audit of all annual government accounts.

Kingdom of Morocco : Country Financial Accountability Assessment; Maroc - Etude d'evaluation de la gestion des finances publiques

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Country Financial Accountability Assessment; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
36.58%
This Country Financial Accountability Assessment (CFAA) reviews Morocco's public sector financial management system, largely based on the French system that separates accounting practices from services organization, and from the initial expenditure control to the latter jurisdictional control. The Moroccan system appears largely robust, characterized by legal institutions; however, this seemingly, poses delays affecting the relation between public expenditures, and its results. Given these apparent weaknesses, the Government fostered reforms to modernize public administration, and improve services delivery. Recommendations included in this CFAA to improve public sector efficiency, address actions to improve budget preparation, and to formally standardize budgetary information to Parliament. Budget implementation should be made public, supported by legislation, while improved ministerial support should be ensured in human resources expenditures, and management; similarly, information related to investment payments should be improved...

Afghanistan - Building an Effective State : Priorities for Public Administration Reform

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Other Public Sector Study; Economic & Sector Work
ENGLISH
Relevância na Pesquisa
36.59%
This report looks at the implications for public administration reform over the next 5-10 years, and proposes a priority agenda for action by the Government of Afghanistan (GOA) and the donor community. The report reviews the prospects and priorities for public administration reform in three key areas: building an effective civil service, improving local governance and service delivery, and making government accountable to the people. This report has made the case that public administration reform in Afghanistan is both very important and very difficult: very important because it will provide the Government o f Afghanistan with the capacity to respond to popular demands for good governance and improved service delivery; very difficult, because of the inherent challenges o f institutional change, especially in the current political and security situation in Afghanistan. Public Administration Reform (PAR) is a long-term task -This will require persistent effort over time, as well as innovative approaches to improve service delivery in the short and medium terms. Afghanistan's experience over the past five years...

Latvia - From Exuberance to Prudence : A Public Expenditure Review of Government Administration and the Social Sectors - Overview and Summary

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Economic & Sector Work :: Public Expenditure Review
ENGLISH
Relevância na Pesquisa
36.49%
This public expenditure review (PER) was conducted at the request of the Ministry of Finance (MoF) on behalf of the Government of the Republic of Latvia. The objective of the PER is to identify potential areas of further budget savings in public administration and the social sectors that could help restore fiscal balance, speed Latvia's recovery from the current crisis, and help it to meet the Maastricht Criteria by 2012 so it can adopt the Euro in 2014. The remainder of this volume is structured in the following way. Section two recounts the events and circumstances that set the Government's fiscal stance in the years prior to the crisis. Section three summarizes the principal emergency measures the Government took to cope during 2008 and 2009 as the crisis broke and led to Latvia's severe economic contraction. The purpose of these sections which draw liberally from material prepared by the financial authorities, the International Monetary Fund (IMF) and the European Central (EC) is to make the case for further fiscal adjustment plain. The report then summarizes the main messages and highlights the most important suggestions made in each of the longer...

Latvia - From Exuberance to Prudence : A Public Expenditure Review of Government Administration and the Social Sectors - Analytical Report

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Economic & Sector Work :: Public Expenditure Review
ENGLISH
Relevância na Pesquisa
36.45%
This public expenditure review (PER) was conducted at the request of the Ministry of Finance (MoF) on behalf of the Government of the Republic of Latvia. The objective of the PER is to identify potential areas of further budget savings in public administration and the social sectors that could help restore fiscal balance, speed Latvia's recovery from the current crisis, and help it to meet the Maastricht Criteria by 2012 so it can adopt the Euro in 2014. The remainder of this volume is structured in the following way. Section two recounts the events and circumstances that set the Government's fiscal stance in the years prior to the crisis. Section three summarizes the principal emergency measures the Government took to cope during 2008 and 2009 as the crisis broke and led to Latvia's severe economic contraction. The purpose of these sections which draw liberally from material prepared by the financial authorities, the International Monetary Fund (IMF) and the European Central (EC) is to make the case for further fiscal adjustment plain. The report then summarizes the main messages and highlights the most important suggestions made in each of the longer...

Republic of Panama : Public Expenditure and Financial Accountability; Panama - Informe del desempeno de la gestion de las finanzas publicas (PEFA)

World Bank; Inter-American Development Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Economic & Sector Work :: Public Expenditure Review
ENGLISH; EN_US
Relevância na Pesquisa
36.56%
Panama's public financial management (PFM) system displays several strengths with respect to the fiscal position, debt management, and payroll administrative controls, but from a systemic perspective budget preparation and budget credibility issues undermine the efficiency of sectoral investment plans and make it difficult to advance on other improvements in the public sector. An efficient and transparent allocation of budgetary resources allows the government to achieve value for money in delivering public services. This assessment is undertaken at the request of the Government of Panama (GoP) which is in the process of reforming and modernizing its public finances, and is therefore interested in establishing both a baseline for future PFM performance measures and the degree of management alignment to internationally accepted best practices. The public expenditure and financial accountability (PEFA) methodology provides relevant information on current management and will allow establishment or adjustment of a reform strategy to improve PFM quality. This PEFA assessment provides a reference and a baseline for two projects and a baseline for the GoP to measure progress of the current reform. The projects are: (i) the program to strengthen fiscal management financed by Inter-American Development Bank (IADB)...

Bolivia - Public Financial Management Review, Based on the PEFA Methodology

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Economic & Sector Work :: Other Financial Sector Study
ENGLISH
Relevância na Pesquisa
36.43%
The National Development Plan highlights the Bolivian Government's commitment to improving efficiency, transparency, and accountability in the use of public resources. Within that framework, the authorities of the Ministry of Economy and Public Finance (Ministerio de Economia y Finanzas Publicas, or MEFP) expressed their interest in conducting a public finance performance review following the Public Expenditure and Financial Accountability (PEFA) framework. Under this initiative the MEFP conducted a self-assessment, Evaluacion de las Finanzas Publicas (EFIP), at the beginning of 2008, which was then updated in a second phase toward the end of the same year. The purpose of this PEFA review is to provide the Government, international donors, and other stakeholders with an objective diagnosis of the performance of the PFM systems, processes, and institutions, using 31 high-level indicators taken from the PEFA reference framework. In accordance with government requirement, the review focuses on the central government's public expenditure and revenues...

Poland - Public Expenditure Review : Analysis of Social Sectors and Public Wages

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Economic & Sector Work :: Public Expenditure Review
ENGLISH
Relevância na Pesquisa
36.43%
This report looks at public spending on pensions, education, health, social assistance, labor market programs, and public wages. Presenting the findings of a series of studies and notes compiled sice April 2009, it highlights how reforming such spending, which comprises about one quarter of gross domestic product (GDP), is essential for mitigating the impact of the economic crisis and for transforming Poland from a welfare state to a workfare society in line with Government's Vision 2030. The report has two main messages. First, Poland can take measures to reduce public expenditures on social sectors and public wages by around 2.3 percentage points over the next three years. Second, beyond supporting the fiscal adjustment required in the context of the economic crisis, public expenditure reforms can also help bring about structural changes envisioned as part of the Government's strategy for 2030. This report provides a comprehensive assessment of Poland's social sector and public wage polices and lays out options for reform. The summary report has five parts. The first part lays out the macroeconomic context. It emphasizes that Poland has weathered the global economic crisis remarkably well but that the recovery is likely to be feeble and subject to uncertainty. The next part discusses the fiscal fallout of the crisis and argues that public expenditure reform should be a crucial pillar for fiscal consolidation. Sections three to five contain the main findings of the report. Section three presents a list of important reforms of public expenditures on social sectors and wages in support of Vision 2030. Section four simulates the fiscal impact of public expenditure reforms...

Global Stock-Take of Social Accountability Initiatives for Budget Transparency and Monitoring : Key Challenges and Lessons Learned

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Knowledge Economy Study; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
36.44%
Budgets are key documents that lay out a government's economic priorities in terms of policies and programs. Budget transparency refers to the extent and ease with which citizens can access information about and provide feedback on government revenues, allocations, and expenditures. Budget monitoring entails using such information to analyze, critique, and track government finances in order to provide this feedback. Budget transparency is a prerequisite for public participation and accountability, which are instrumental for a democratic and legitimate budget process. Both budget transparency and monitoring efforts also help remove institutional bottlenecks that result in delayed budget allocations, thereby jeopardizing the delivery of vital services to people. Even though they have a far-reaching impact on the lives of people, opening up budgets beyond the exclusive domain of policy makers and administrators is a relatively recent phenomenon that has gained momentum in the last two decades. The stock taking exercise illustrates the range of mechanisms involved in Budget Transparency and Monitoring (BT&M) in different contexts and demonstrates significant promise of influencing governance processes and outcomes. Finally...