Publication:
Grenada, OECS Fiscal Issues : Policies to Achieve Fiscal Sustainability and Improve Efficiency and Equity of Public Expenditures

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dc.contributor.authorWorld Bank
dc.date.accessioned2013-06-13T21:44:51Z
dc.date.available2013-06-13T21:44:51Z
dc.date.issued2004-10-25
dc.description.abstractThe report reviews Grenada public expenditures for the period 1995-02 and suggests policy recommendations to achieve fiscal sustainability, improve social service delivery, and reform social protection based on the economic situation of the country at the time. To restore rapid economic growth, ensure medium-term fiscal sustainability under the umbrella of the currency union and protect the social achievements realized in the past decades, the main challenges facing the Grenada government are to: (a) tighten fiscal policy, notably through reduction of capital expenditures and the realization of the fiscal savings expected from the public sector reform initiated in 1997 (b) increase the efficiency of public investments and public service delivery; (c) strengthen regulation and efficiency of public utilities and sea/air transport; (d) modernize the legal framework that oversees public sector employment; and (e) promote education and skills development to prepare the population, notably the poor, to take advantage of new opportunities in the global environment. The report is organized as follows: Chapter 1 discusses fiscal sustainability in Grenada and presents options for fiscal consolidation; Chapter 2 discusses the role of the business cycle in the design of fiscal policy by reviewing the cyclical components of the fiscal accounts; Chapter 3 discusses the budget management system in place and its effect on budgetary outcomes. Chapter 4 examines the Public Sector Investment Program (PSIP); Chapter 5 discusses public sector employment and compensation issues; Chapters 6 and 7 examine public expenditures and outcomes in the education and health sectors; and Chapter 8 discusses social protection programs. Since the completion of the report, Grenada has undertaken a number of important initiatives to address the fiscal challenges that the country faces, especially in the aftermath of Hurricanes Ivan and Emily. In particular, the authorities have developed a "burden-sharing" strategy to achieve fiscal sustainability. However in Grenada, as in all small states, faster implementation is hindered by limited institutional capacity.en
dc.identifierhttp://documents.worldbank.org/curated/en/2004/10/6861572/grenada-oecs-fiscal-issues-policies-achieve-fiscal-sustainability-improve-efficiency-equity-public-expenditure
dc.identifier.doi10.1596/13939
dc.identifier.urihttps://hdl.handle.net/10986/13939
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectAGRICULTURE
dc.subjectBUDGET BALANCES
dc.subjectBUDGET MANAGEMENT SYSTEM
dc.subjectBUDGET PROCESS
dc.subjectBUSINESS CYCLE
dc.subjectBUSINESS CYCLES
dc.subjectCAPITA INCOME
dc.subjectCAPITAL BUDGET
dc.subjectCAPITAL EXPENDITURE
dc.subjectCAPITAL EXPENDITURES
dc.subjectCAPITAL PROJECTS
dc.subjectCAPITAL SPENDING
dc.subjectCENTRAL BANK
dc.subjectCENTRAL GOVERNMENT FISCAL
dc.subjectCONTINGENT LIABILITIES
dc.subjectCYCLICAL EFFECTS
dc.subjectDAMAGES
dc.subjectDEBT MANAGEMENT
dc.subjectDEBT RATIOS
dc.subjectDEBT SERVICE
dc.subjectECONOMIC COOPERATION
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC SHOCKS
dc.subjectECONOMIC SITUATION
dc.subjectECONOMIC SLOWDOWN
dc.subjectECONOMIC STRUCTURE
dc.subjectEXPENDITURE CUTS
dc.subjectEXPENDITURE GROWTH
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL SHOCKS
dc.subjectEXTREME POVERTY
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFISCAL ACCOUNTS
dc.subjectFISCAL ADJUSTMENT
dc.subjectFISCAL BALANCE
dc.subjectFISCAL CONSOLIDATION
dc.subjectFISCAL CONVERGENCE
dc.subjectFISCAL CONVERGENCE CRITERIA
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL DISCIPLINE
dc.subjectFISCAL FRAMEWORK
dc.subjectFISCAL INFORMATION
dc.subjectFISCAL ISSUES
dc.subjectFISCAL PERFORMANCE
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFISCAL RESPONSIBILITY
dc.subjectFISCAL RULE
dc.subjectFISCAL RULES
dc.subjectFISCAL SAVINGS
dc.subjectFISCAL SURPLUS
dc.subjectFISCAL SUSTAINABILITY
dc.subjectFIXED EXCHANGE RATE
dc.subjectGDP
dc.subjectGOVERNMENT BUDGET
dc.subjectGOVERNMENT EXPENDITURE
dc.subjectGOVERNMENT EXPENDITURE COMPOSITION
dc.subjectGOVERNMENT REVENUE
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH POTENTIAL
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectHEALTH SPENDING
dc.subjectHUMAN CAPITAL
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectINTEREST PAYMENTS
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL MONETARY FUND
dc.subjectINTERNATIONAL TRANSACTIONS
dc.subjectLOCAL REVENUE
dc.subjectMACROECONOMIC STABILITY
dc.subjectMONETARY POLICY
dc.subjectPER CAPITA INCOME
dc.subjectPRIMARY BALANCE
dc.subjectPRIMARY DEFICIT
dc.subjectPRIMARY EXPENDITURE
dc.subjectPRIMARY SURPLUS
dc.subjectPRIVATE SECTOR
dc.subjectPUBLIC
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC EXPENDITURES
dc.subjectPUBLIC GOODS
dc.subjectPUBLIC INVESTMENTS
dc.subjectPUBLIC POLICY
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SECTOR COMPENSATION
dc.subjectPUBLIC SECTOR EMPLOYMENT
dc.subjectPUBLIC SECTOR REFORM
dc.subjectPUBLIC SECTOR WAGE
dc.subjectPUBLIC SECTOR WAGE BILL
dc.subjectPUBLIC SERVICE
dc.subjectPUBLIC SERVICE DELIVERY
dc.subjectPUBLIC SERVICES
dc.subjectPUBLIC SPENDING
dc.subjectPUBLIC UTILITIES
dc.subjectREAL INTEREST RATE
dc.subjectREAL TERMS
dc.subjectREDUCTION IN TAX
dc.subjectRESOURCE ALLOCATION
dc.subjectRISK MANAGEMENT
dc.subjectSAFETY NETS
dc.subjectSECTOR INVESTMENT
dc.subjectTAX COLLECTION
dc.subjectTAX EXEMPTIONS
dc.subjectTAX REVENUES
dc.subjectTRANSPARENCY
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectWAGES
dc.titleGrenada, OECS Fiscal Issues : Policies to Achieve Fiscal Sustainability and Improve Efficiency and Equity of Public Expendituresen
dspace.entity.typePublication
okr.date.disclosure2006-06-20
okr.date.doiregistration2025-05-07T12:22:12.868097Z
okr.doctypeEconomic & Sector Work::Public Expenditure Review
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2004/10/6861572/grenada-oecs-fiscal-issues-policies-achieve-fiscal-sustainability-improve-efficiency-equity-public-expenditure
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeGovernance
okr.guid741731468030345728
okr.identifier.externaldocumentum000160016_20060616102435
okr.identifier.internaldocumentum6861572
okr.identifier.report28334
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/06/16/000160016_20060616102435/Rendered/PDF/283340GRD.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryGrenada
okr.sectorPublic Administration, Law, and Justice
okr.sectorEducation
okr.sectorHealth and other social services :: Health
okr.sectorHealth and other social services :: Other social services
okr.topicPublic Sector Economics
okr.topicPublic Sector Fiscal Adjustment
okr.topicMacroeconomics and Economic Growth::Fiscal Adjustment
okr.topicMacroeconomics and Economic Growth::Economic Stabilization
okr.topicEconomic Theory and Research
okr.topicPublic Sector Development
okr.unitEconomic Policy Sector (LCSPE)
okr.volume1 of 1
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