Publication: Bhutan Public Financial Management Performance Report: Based on Public Expenditure and Financial Accountability 2016 Framework
Loading...
Date
2016-09
ISSN
Published
2016-09
Author(s)
Editor(s)
Abstract
The Royal Government of Bhutan (RGoB) places high priority on good governance, and sound public financial management is one of the key elements of good governance. Over the past decade, Bhutan has been making steady progress in strengthening public financial management covering budget preparation, budget execution, control, reporting and oversight. There is increased legislative oversight on budget approval through a Finance Committee and of audit reports through a Public Accounts Committee. As in other countries, the public at large has become more demanding in terms of transparent and efficient government. The purpose of the assessment of the Public Financial Management (PFM) performance of the Royal Government of Bhutan (RGoB) was threefold: (i) to assess the quality (strengths and weaknesses) of PFM in the country against generally accepted international standards; (ii) to assess progress since the last Public Expenditure and Financial Accountability (PEFA) assessment in 2010, and (iii) to provide RGoB and other stakeholders with a common source of information as a basis for further dialogue on PFM reforms. This assessment was carried out under the approach of full ownership by RGoB and self-assessment by its officials, with technical support from World Bank and International Monetary Fund (IMF).
Link to Data Set
Citation
“World Bank Group. 2016. Bhutan Public Financial Management Performance Report: Based on Public Expenditure and Financial Accountability 2016 Framework. © World Bank. http://hdl.handle.net/10986/25722 License: CC BY 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 Morocco - Public Financial Management Performance Report (PEFA) : Assessment of Public Financial Management Systems, Procedures, and Institutions(World Bank, 2009-05-01)This Public Financial Management Performance Report (PFM-PR) assesses the current performance of financial management in Morocco's public sector. The Public Expenditure and Financial Accountability (PEFA) framework applied for this review uses an assessment tool based on a set of high-level indicators that provide reliable information on the performance of PFM systems, processes and institutions. The purpose of using this tool is to measure performance for five PFM areas in Morocco as compared to international standards. The Kingdom of Morocco is a medium-income country with a population of 31 million and per capita income of European Union (EU) 2,300 (2007). Average life expectancy has significantly improved to 72.4 years in 2007, reflecting a progressive improvement in living standards. Nonetheless, major social challenges remain, in particular the economic insecurity of a large segment of its residents. Despite a considerable improvement in poverty indicators during this century (the incidence of poverty fell from 15.3 percent in 2001 to 9 percent in 2007), more than a quarter of the population in 2007 remained economically vulnerable. The report covers public expenditure at the central government level, including central government's financial relationships with local and regional governments and with public enterprises (PE). Morocco has a relatively large public sector that accounts for 53 percent of gross domestic product (GDP) (2007), comparable to that for other Magreb countries.Publication Public Financial Managment in Aceh : Measuring Financial Management Performance in Aceh's Local Governments(Washington, DC, 2007-03)This economic report holds that capacity in financial management varies widely across local governments in Aceh. While some local governments achieve reasonable outcomes in financial management capacity, others are lagging far behind. Capacity in key aspects of financial management also varies within individual local governments. Average outcomes indicate particular weaknesses in accounting and reporting, cash management and external audit.Publication Bhutan - Public Financial Management Accountability Assessment(World Bank, 2010-06-01)This summary assessment uses indicator-led analysis to provide an integrated assessment of the Public Financial Management (PFM) system which draws on international standards developed by various development partners. The purpose is to measure PFM performance across a wide range of development over time. The Public Expenditure and Financial Accountability (PEFA) methodology includes the best conditions that some Organization for Economic cooperation and Development (OECD) countries demonstrate and in this assessment it is important to consider the Bhutanese context, that it is a small country, traditionally with an agricultural base society with relatively lesser industry and commerce. It is unable to support a financial sector infrastructure in terms of accountancy and audit standard setting and the availability of international standards is of great assistance. The 31 indicators for the PFM system focus on the basic qualities of a PFM system operating to existing good international practices, and assessments are classified A (excellent), B (good), C (opportunities for some improvement) and D (in need of substantial improvement in some areas or information not available for the assessment). Each indicator may have 1-4 dimensions each of which is assessed independently. The overall score for the indicator is based on the scores for the constituent dimensions in accordance with scoring rules established in the PEFA PFM framework document. In some circumstances a plus sign is added where the indicator takes on the score of the lowest scoring dimension but other dimensions have higher scores.Publication Nigeria - A Fiscal Agenda for Change : Public Expenditure Management and Financial Accountability Review, Volume I, Main report(World Bank, Washington, DC, 2007-05-25)This report reviews the trends in expenditure patterns in public financial management (PFM) in Nigeria since 2001, and assesses the impact thus far of the ongoing government reform efforts. The public expenditure management and financial accountability review (PEMFAR) covers areas that have been traditionally undertaken by separate Bank reports such as the public expenditure reviews (PER), the country financial accountability assessment (CFAA), and the country procurement assessment review (CPAR). This analysis covers fiscal policies and performance at both federal and state government levels. The PEMFAR is a consolidated diagnostic tool designed to enhance Bank, development partners' and member countries' knowledge of PFM arrangements and reform challenges. The core objective of the Nigeria PEMFAR is to advise the Government (federal and participating states) on how (i) to better focus and sequence its PFM, including the procurement reform agenda within a broader economic reform framework, and (ii) identify directions and instruments of restructuring its expenditure patterns on both macro and sectoral levels. The PEMFAR also aims to inform international development partners on how they could provide more efficient support for the PFM reforms in Nigeria by identifying the main bottlenecks within the existing reform process.Publication Afghanistan : Public Financial Management Performance Assessment(Washington, DC, 2008-06)Afghanistan's public financial management (PFM) system achieved significant improvements between June 2005 and December 2007. Among 28 performance indicators, 18 indicators improved, two indicators deteriorated, and eight indicators remained unchanged. Among three indicators of donor practices, two deteriorated and one remained unchanged. In relation to other countries for which Public Expenditure and Financial Accountability (PEFA) assessments have been conducted, Afghanistan's ratings are better than the average for other low-income countries and in some areas better than the average for middle-income countries. The operating budget is credible as funding from domestic revenues and donors has been stable. However, the gap between the budget and realization remains significant in the development budget expenditures. The comprehensiveness of the budget is generally good, although reporting and especially transparency should be improved. However, fiscal risk oversight of state-owned enterprises and municipalities is practically non-existent and thus problematic. The budget process is based on multi-year fiscal planning and comparatively detailed budgeting at the level of ministries and agencies, but so far has lacked the necessary strategic prioritizations of resources by the cabinet early in the process. Payroll processing is highly decentralized which contributes to timely updates of payroll and reconciliation of personnel and payroll records. Access to a number of provinces by the external auditor and the Afghanistan Reconstruction Trust Fund (ARTF) monitoring agent is hampered by security concerns. External audit of donor funding is conducted according to acceptable standards, but the quality of review of the annual budget statement and of regulatory audits needs to be improved. Arrangements are in place for the effective internal audit of treasury and revenue operations of government, but capacity for internal audit in the line ministries is still very weak.
Users also downloaded
Showing related downloaded files
Publication World Development Report 2006(Washington, DC, 2005)This year’s Word Development Report (WDR), the twenty-eighth, looks at the role of equity in the development process. It defines equity in terms of two basic principles. The first is equal opportunities: that a person’s chances in life should be determined by his or her talents and efforts, rather than by pre-determined circumstances such as race, gender, social or family background. The second principle is the avoidance of extreme deprivation in outcomes, particularly in health, education and consumption levels. This principle thus includes the objective of poverty reduction. The report’s main message is that, in the long run, the pursuit of equity and the pursuit of economic prosperity are complementary. In addition to detailed chapters exploring these and related issues, the Report contains selected data from the World Development Indicators 2005‹an appendix of economic and social data for over 200 countries. This Report offers practical insights for policymakers, executives, scholars, and all those with an interest in economic development.Publication Argentina Country Climate and Development Report(World Bank, Washington, DC, 2022-11)The Argentina Country Climate and Development Report (CCDR) explores opportunities and identifies trade-offs for aligning Argentina’s growth and poverty reduction policies with its commitments on, and its ability to withstand, climate change. It assesses how the country can: reduce its vulnerability to climate shocks through targeted public and private investments and adequation of social protection. The report also shows how Argentina can seize the benefits of a global decarbonization path to sustain a more robust economic growth through further development of Argentina’s potential for renewable energy, energy efficiency actions, the lithium value chain, as well as climate-smart agriculture (and land use) options. Given Argentina’s context, this CCDR focuses on win-win policies and investments, which have large co-benefits or can contribute to raising the country’s growth while helping to adapt the economy, also considering how human capital actions can accompany a just transition.Publication Classroom Assessment to Support Foundational Literacy(Washington, DC: World Bank, 2025-03-21)This document focuses primarily on how classroom assessment activities can measure students’ literacy skills as they progress along a learning trajectory towards reading fluently and with comprehension by the end of primary school grades. The document addresses considerations regarding the design and implementation of early grade reading classroom assessment, provides examples of assessment activities from a variety of countries and contexts, and discusses the importance of incorporating classroom assessment practices into teacher training and professional development opportunities for teachers. The structure of the document is as follows. The first section presents definitions and addresses basic questions on classroom assessment. Section 2 covers the intersection between assessment and early grade reading by discussing how learning assessment can measure early grade reading skills following the reading learning trajectory. Section 3 compares some of the most common early grade literacy assessment tools with respect to the early grade reading skills and developmental phases. Section 4 of the document addresses teacher training considerations in developing, scoring, and using early grade reading assessment. Additional issues in assessing reading skills in the classroom and using assessment results to improve teaching and learning are reviewed in section 5. Throughout the document, country cases are presented to demonstrate how assessment activities can be implemented in the classroom in different contexts.Publication Lebanon Economic Monitor, Fall 2022(Washington, DC, 2022-11)The economy continues to contract, albeit at a somewhat slower pace. Public finances improved in 2021, but only because spending collapsed faster than revenue generation. Testament to the continued atrophy of Lebanon’s economy, the Lebanese Pound continues to depreciate sharply. The sharp deterioration in the currency continues to drive surging inflation, in triple digits since July 2020, impacting the poor and vulnerable the most. An unprecedented institutional vacuum will likely further delay any agreement on crisis resolution and much needed reforms; this includes prior actions as part of the April 2022 International Monetary Fund (IMF) staff-level agreement (SLA). Divergent views among key stakeholders on how to distribute the financial losses remains the main bottleneck for reaching an agreement on a comprehensive reform agenda. Lebanon needs to urgently adopt a domestic, equitable, and comprehensive solution that is predicated on: (i) addressing upfront the balance sheet impairments, (ii) restoring liquidity, and (iii) adhering to sound global practices of bail-in solutions based on a hierarchy of creditors (starting with banks’ shareholders) that protects small depositors.Publication Global Economic Prospects, June 2024(Washington, DC: World Bank, 2024-06-11)After several years of negative shocks, global growth is expected to hold steady in 2024 and then edge up in the next couple of years, in part aided by cautious monetary policy easing as inflation gradually declines. However, economic prospects are envisaged to remain tepid, especially in the most vulnerable countries. Risks to the outlook, while more balanced, are still tilted to the downside, including the possibility of escalating geopolitical tensions, further trade fragmentation, and higher-for-longer interest rates. Natural disasters related to climate change could also hinder activity. Subdued growth prospects across many emerging market and developing economies and continued risks underscore the need for decisive policy action at the global and national levels. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.