Publication: 2022 Comoros Public Expenditure Review: Addressing Fiscal Challenges to Foster an Inclusive Growth
Loading...
Other Files
610 downloads
Date
2023-07-28
ISSN
Published
2023-07-28
Author(s)
Editor(s)
Abstract
The Union of the Comoros is a small-island country in Eastern Africa that recorded a modest economic expansion and suffered from various fiscal challenges during the last decade that had an impact on long-term growth. Limited fiscal space to address development needs explains the country’s low human capital and poor quality infrastructure, which in turn hamper efforts to increase productivity and private sector growth. In addition, due to low performing State-owned enterprise (SOEs) and weakening economic performance, Comoros faces significant fiscal risks. The analysis presented in this PER supports the efforts of the government of Comoros to enhance public expenditure efficiency, create fiscal space, and limit fiscal risks. The analysis is designed to focus on public investment management (PIM) and public financial management (PFM), identify reforms that could yield fiscal and efficiency gains, and assess the governance of SOEs.
Link to Data Set
Citation
“World Bank. 2023. 2022 Comoros Public Expenditure Review: Addressing Fiscal Challenges to Foster an Inclusive Growth. © World Bank. http://hdl.handle.net/10986/40112 License: CC BY-NC 3.0 IGO.”
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Collections
Related items
Showing items related by metadata.
Publication Georgia - Public Expenditure Review : Managing Expenditure Pressures for Sustainability and Growth(Washington, DC, 2012-11)Economic growth has rebounded strongly in Georgia during 2010-12 and commendable fiscal consolidation has been implemented, although considerable medium-term macro-fiscal challenges remain. This public expenditure review (PER) considers possible sources of expenditure pressure that may affect the fiscal consolidation program and suggests options to manage them. This PER presents a number of options for consideration to manage fiscal consolidation, which can contribute toward greater selectivity in capital expenditures, enhanced sustainability of the road investment program, and containing medium-term social expenditure pressures. The rest of this synthesis report is in five chapters. Chapter first summarizes the macroeconomic context and assesses trade-offs associated in balancing the overall composition of public expenditures. The second and third chapters illustrate policy options and implications associated with containing social expenditure pressures and improving effectiveness of health expenditures, respectively. Chapter fourth reviews the international experience in strengthening capital budgeting and provides options for consideration for Georgia. Finally, the fifth chapter discusses options associated with rebalancing road sector expenditures.Publication Comoros - Road Sector Public Expenditure Review(Washington, DC, 2021-06-01)Comoros has potential for economic growth in various sectors, such as agriculture and tourism, but growth has been relatively modest. The Comorian national markets are highly fragmented because of poor transport connectivity between and within the islands. There is substantial need for road improvements, but fiscal space is limited. The objectives of the current report are to examine the fiscal sustainability of road sector spending and explore a potential intervention framework in the road sector that will allow Comoros to address its connectivity challenges while considering the country’s macro fiscal situation. It will review current performance and practices in the road sector; examine available resources and potential financial needs; explore ways to meet the existing gap; and propose a prioritization scheme based on a multicriteria analysis, suggesting a list of priority roads that the government could consider in its next road investment program.Publication United Republic of Tanzania Public Expenditure Review FY03 : Managing Public Expenditures for Poverty Reduction - Report on Fiscal Developments and Public Expenditure Management Issues(Washington, DC, 2003-06-30)In line with the Poverty Reduction Strategy (PRS) context, this external evaluation looks at budgetary developments, primarily through the lens of the PRS, thus with important implications for the Public Expenditure Review (PER) process, which has evolved into the principal analytic instrument to support the translation of PRS objectives and strategies, into budgets. Overall fiscal policy remained very conservative in FY02, and FY03. Tanzania continues to use a cash budget system that strictly constrains spending, and commitment levels to short term availability of cash. While the system was clearly useful, improvements in budget and aid management put the continued use of a cash budget system into question; thus it is advisable to revisit options for relaxing the stringency of the cash budget. Nevertheless, the revenue to gross domestic product (GDP) ratio, fell marginally to 12.1 percent in FY02, but is projected to reach 12.5 percent in FY03, therefore, with respect to new tax policy measures, it will be important to pay attention to the impact of such measures on poverty and growth. However, given that foreign assistance increased in FY02 to 5.9 percent of GDP, and is projected to increase to 7.9 percent in FY03, there is the need to pursue policies that would support Tanzania's international competitiveness, and minimize the potential "Dutch disease" effects of aid. Upon review of the micro-aspects of development assistance, it would be useful to improve the scope of the information, and in turn, the Ministry of Finance ( MoF) should routinely obtain this information, so as to incorporate/synchronize it with current aid flow data bases. Further recommendations address functional allocation of resources and distribution, requirements concerning auditing, and reporting standards, and, the inclusion of participatory monitoring and evaluation, as an important feedback mechanism into the PER process.Publication United Republic of Tanzania - Public Expenditure Review FY02 : Report on Fiscal Developments and Public Expenditure Management Issues(Washington, DC, 2002-05)This Public Expenditure Review (PER) examines the overall fiscal discipline, which after targeting, and achieving recurrent surpluses by FY99, the targets for FY01 were set to provide scope for financing of priority sector activities under the Poverty Reduction Strategy, and accommodate increased foreign inflows in the form of program grants. However, recurrent deficits in FY01, and, the target for FY02, delivered a recurrent deficit of 2.5 percent of GDP. Nonetheless, these deficits are within the sustainability thresholds indicated by recent analyses of fiscal, and debt sustainability, and remain compatible with continued macroeconomic stability. The report also looks at the introduction of cash flow planning, and the innovation introduced with the public finance act, to then analyze the government resources, and expenditures, which overall, expenditures on the key priority areas increased, exceeding the additional debt relief available through the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The report subsequently focuses on two main sources of fiscal risks, namely, on public enterprise debts and retrenchment costs associated with privatization; and, on extra-budgetary commitments related to procurement. Containment of fiscal risks, and further work should be extended to quantify, and validate parastatal debts covering other resources of fiscal risks, including commitments to privatization. Recommendations include a review of the existing tracking systems to identify information gaps, and recommend how systems can be streamlined, how information flows can be improved, and to clarify roles, and responsibilities of key institutions in this process. Moreover, attention should be paid to both financial reporting, and service delivery, including ways of integrating the two, in addition to identifying links to the poverty monitoring process.Publication Improving Public Expenditure Efficiency for Growth and Poverty Reduction : A Public Expenditure Review for the Republic of Moldova(Washington, DC, 2007-02)The Government of Moldova's Economic Growth and Poverty Reduction Strategy Paper (EGPRSP) lays out an ambitious plan for sustaining growth and poverty reduction and reshaping the government to meet the needs of a market economy. The public expenditures envisaged under this ambitious plan, however, vastly exceed the domestic resources available to the Government. Additional foreign budgetary support may help alleviate some of that resource constraint. Recognizing that the share of tax revenues and expenditures to GDP in Moldova already greatly exceed comparable international levels, generating additional domestic tax resources risks crowding out the private sector and undermining growth prospects. This suggests that in order to finance higher order public expenditures priorities, the Government needs to create fiscal space from within the existing resource envelope. This will require inter and intra-sectoral reallocation of expenditures and an increase in the efficiency of public spending rather than increasing the relative size of government.
Users also downloaded
Showing related downloaded files
No results found.