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Fiscal Consolidation to Accelerate Growth and Support Inclusive Development : Ghana Public Expenditure Review

World Bank (2017-06-19)

Ghana has experienced an extended period of robust growth since the early 2000s, supported by a favorable external environment and large investment inflows, particularly in the extractive industries. In 2011, as the start of oil production drove a surge in per capita income, Ghana graduated from low-income to lower-middle-income status. Despite the key role of the extractive industries, recent growth has been relatively inclusive, and Ghana achieved its Millennium Development Goal of halving the poverty rate by 2015. However, macroeconomic conditions have deteriorated since 2012, giving rise to substantial domestic and external imbalances. Although external shocks have underscored Ghana's vulnerability to global commodity and financial markets, the recurring nature of its imbalances reflects deeper structural deficiencies in its macroeconomic policies and public financial management (PFM) ...

Ghana has experienced an extended period of robust growth since the early 2000s, supported by a favorable external environment and large investment inflows, particularly in the extractive industries. In 2011, as the start of oil production drove a surge in per capita income, Ghana graduated from low-income to lower-middle-income status. Despite the key role of the extractive industries, recent growth has been relatively inclusive, and Ghana ...

Ghana has experienced an extended period of robust growth since the early 2000s, supported by a favorable external environment and large investment inflows, particularly in the extractive industries. In 2011, as the start of oil production drove a surge in per capita income, Ghana graduated from low-income to lower-middle-income ...

The Gambia - Fiscal Developments and the Agriculture Sector : Public Expenditure Review Update

World Bank (2006-06)

The objectives of this Public Expenditure Review (PER) update are to analyze public expenditures of the overall budget and the agriculture sector in greater detail. The authorities prepared sectoral PER of the agriculture and natural resources sectors in 2001. The second chapter of this PER update is a partial update of the 2001 sectoral PER. It focuses only on the agriculture sector and excludes the natural resource sectors, and it does not analyze the sector strategy or the latest sector developments. The macroeconomic environment continued on its stable path in recent years. The authorities have gradually tightened fiscal and monetary policies since the economic downturn in 2002, resulting in a resumption of growth, lowering of inflation, and stabilization of the exchange rate. The authorities are currently developing the agriculture sector strategy. This should be based on a comprehensive analysis of the latest sector developments, including identification of key sector constraints.

The objectives of this Public Expenditure Review (PER) update are to analyze public expenditures of the overall budget and the agriculture sector in greater detail. The authorities prepared sectoral PER of the agriculture and natural resources sectors in 2001. The second chapter of this PER update is a partial update of the 2001 sectoral PER. It focuses only on the agriculture sector and excludes the natural resource sectors, and it does not analyze the sector strategy or the latest sector developments. The macroeconomic environment continued on ...

The objectives of this Public Expenditure Review (PER) update are to analyze public expenditures of the overall budget and the agriculture sector in greater detail. The authorities prepared sectoral PER of the agriculture and natural resources sectors in 2001. The second chapter of this PER update is a partial update of the 2001 sectoral PER. It focuses only on the agriculture sector and excludes the natural ...

The Gambia - Recovering Fiscal Discipline : Public Expenditure Review

World Bank (2005-01)

Recent economic performance in The Gambia was extremely poor, and undermined efforts to implement the Poverty Reduction Strategy Paper (PRSP). Laxity in fiscal and monetary policies, and low agricultural production resulted in low growth, high inflation, and rapid depreciation of the domestic currency. Key macroeconomic targets in the PRSP were missed by a wide margin, and the International Monetary Fund (IMF) Poverty Reduction and Growth Facility (PRGF) program has been substantially off track. Past expansion of the money supply necessitates tight monetary policies in the form of higher interest rates, which have in turn increased public debt service, and crowded other public spending, including PRSP priority spending. The fiscal and debt sustainability analysis indicates that the country's fiscal situation is unsustainable if the current situation persists, particularly since the country continues to be vulnerable to exogenous shocks, such as the low rainfalls in 2002. The present Public Expenditure Review (PER) seeks to analyze the reform agenda, while mindful of local capacity and ...

Recent economic performance in The Gambia was extremely poor, and undermined efforts to implement the Poverty Reduction Strategy Paper (PRSP). Laxity in fiscal and monetary policies, and low agricultural production resulted in low growth, high inflation, and rapid depreciation of the domestic currency. Key macroeconomic targets in the PRSP were missed by a wide margin, and the International Monetary Fund (IMF) Poverty Reduction and Growth Facility (PRGF) program has been substantially off track. Past expansion of the money supply necessitates ...

Recent economic performance in The Gambia was extremely poor, and undermined efforts to implement the Poverty Reduction Strategy Paper (PRSP). Laxity in fiscal and monetary policies, and low agricultural production resulted in low growth, high inflation, and rapid depreciation of the domestic currency. Key macroeconomic targets in the PRSP were missed by a wide margin, and the International Monetary Fund (IMF) ...

Georgia - Managing Expenditure Pressures for Sustainability and Growth : Public Expenditure Review

World Bank (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. To meet the challenge of generating rapid and sustainable growth in an uncertain global environment, Georgia will need to continue to implement and potentially deepen its fiscal consolidation program. This public expenditure review (PER) considers possible sources of expenditure pressure that could undermine the fiscal consolidation program and suggests options to manage them. Social expenditure pressures arise from the need to provide adequate old-age income to an aging population that relies primarily on the publicly funded pension benefit, as well as from needs to improve social assistance coverage of the poor, and improve health outcomes. Capital expenditure pressures arise from the need ...

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. To meet the challenge of generating rapid and sustainable growth in an uncertain global environment, Georgia will need to continue to implement and potentially deepen its fiscal consolidation program. This public expenditure review (PER) considers possible ...

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. To meet the challenge of generating rapid and sustainable growth in an uncertain global environment, Georgia will need to continue to implement ...

Georgia : Public Expenditure and Financial Accountability Assessment 2012

World Bank (2013-09)

Georgia has advanced significantly its budgetary and financial managements systems since the previous PEFA assessment Report of 2008. The basic set of systems has been put in place for strategic budget planning, budget formulation and execution. The integrated public financial management system is being implemented and according to the Ministry of Finance (MoF), several key modules are already in place. These include treasury operations, spending institutions, budget preparation, payroll and external and internal debt management modules introduced by the MoF financial analytical service in January 2012. The full launch of the system is expected by the end of 2013. The introduction of international good practice in the budget cycle of the Government is well advanced, including robust systems for budget preparation, adequate chart of accounts, reliable execution (including accounting ...

Georgia has advanced significantly its budgetary and financial managements systems since the previous PEFA assessment Report of 2008. The basic set of systems has been put in place for strategic budget planning, budget formulation and execution. The integrated public financial management system is being implemented and according to the Ministry of Finance (MoF), several key modules are already in place. These include treasury operations, spending ...

Georgia has advanced significantly its budgetary and financial managements systems since the previous PEFA assessment Report of 2008. The basic set of systems has been put in place for strategic budget planning, budget formulation and execution. The integrated public financial management system is being implemented and according to ...

Georgia - Public Expenditure and Financial Accountability (PEFA) : Joint World Bank-European Commission Public Financial Management Assessment, Programmatic Public Finance Policy Review

World Bank (2008-11)

This Public Expenditure and Financial Accountability (PEFA) assessment provides an updated and systematic diagnostic of the Public Financial Management (PFM) system in Georgia and provides mid-2007 as a base line for complementing the Government's efforts to monitor progress in the PFM reforms going forward. This summary presents: (i) an assessment of Georgia's PFM performance in applying the PEFA Performance Measurement Framework structured across six dimensions; (ii) an assessment of the impact of PFM weaknesses; and (iii) an assessment of the institutional framework underpinning the prospects for PFM reform. There are, however, areas in the existing internal and external control system, personnel and payroll, public procurement, and reporting of high quality consolidated financial statements that are in need of continued reform to further enhance the effectiveness of the PFM. ...

This Public Expenditure and Financial Accountability (PEFA) assessment provides an updated and systematic diagnostic of the Public Financial Management (PFM) system in Georgia and provides mid-2007 as a base line for complementing the Government's efforts to monitor progress in the PFM reforms going forward. This summary presents: (i) an assessment of Georgia's PFM performance in applying the PEFA Performance Measurement Framework structured ...

This Public Expenditure and Financial Accountability (PEFA) assessment provides an updated and systematic diagnostic of the Public Financial Management (PFM) system in Georgia and provides mid-2007 as a base line for complementing the Government's efforts to monitor progress in the PFM reforms going forward. This summary presents: ...

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Browse Public Expenditure Review by Title

Fiscal Consolidation to Accelerate Growth and Support Inclusive Development : Ghana Public Expenditure Review

Forest Sector Public Expenditure Reviews : Review and Guidance Note

FYR Macedonia Public Expenditure Review : Fiscal Policy for Growth

FYR Macedonia Public Expenditure Review

FYR of Macedonia : Public Expenditure and Institutional Review

The Gambia - Fiscal Developments and the Agriculture Sector : Public Expenditure Review Update

The Gambia - Recovering Fiscal Discipline : Public Expenditure Review

Georgia - Managing Expenditure Pressures for Sustainability and Growth : Public Expenditure Review

Georgia : Public Expenditure and Financial Accountability Assessment 2012

Georgia - Public Expenditure and Financial Accountability (PEFA) : Joint World Bank-European Commission Public Financial Management Assessment, Programmatic Public Finance Policy Review

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