World Bank2012-06-142012-06-142007-02https://hdl.handle.net/10986/8035The 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.en-USCC BY 3.0 IGOACCOUNTINGAGRICULTURAL SECTORARTICLEBENEFICIARIESBORROWINGBUDGET ALLOCATIONBUDGET MANAGEMENTBUDGET PREPARATIONBUDGET PREPARATION PROCESSBUDGETARY INSTITUTIONSCAPITAL EXPENDITURESCAPITAL SPENDINGCIVIL SERVICECIVIL SERVICE PAYCOST-BENEFIT ANALYSISDEBT MANAGEMENTDEBT SUSTAINABILITYDECENTRALIZATIONDEFICIT FINANCINGDOMESTIC INVESTMENTDOMESTIC TAXECONOMIC CLASSIFICATIONECONOMIC DECLINEECONOMIC DOWNTURNSECONOMIC GROWTHECONOMIC RECOVERYECONOMIC STABILITYEDUCATION EXPENDITURESEFFICIENCY GAINSEFFICIENCY OF RESOURCE USEELECTRICITYEMPIRICAL EVIDENCEEXCHANGE RATEEXCHANGE RATE POLICYEXPENDITURE AREAEXPENDITURE FORECASTEXPENDITURE GROWTHEXPENDITURE PLANEXTERNAL DEBTFINANCIAL BALANCEFINANCIAL CRISISFINANCIAL MANAGEMENTFINANCIAL SUPPORTFISCAL ACCOUNTSFISCAL ADJUSTMENTFISCAL BALANCEFISCAL DEFICITFISCAL DEFICITSFISCAL ENVELOPEFISCAL PERFORMANCEFISCAL POLICYFISCAL RETRENCHMENTFISCAL SAVINGSFISCAL SUSTAINABILITYGAS PRICESGOVERNMENT CONSUMPTIONGOVERNMENT EXPENDITUREGOVERNMENT EXPENDITURESGOVERNMENT REVENUEGOVERNMENT REVENUESGOVERNMENT SPENDINGGROWTH PERFORMANCEGROWTH PROSPECTSHEALTH CAREHEALTH CARE SYSTEMHEALTH EXPENDITURESHEALTH INSURANCEHEALTH SECTORHUMAN CAPITALINCOMEINCOME LEVELSINCOME POVERTYINCREASED SPENDINGINFLATIONINSTITUTIONAL DEVELOPMENTINSTITUTIONAL REFORMSINTEREST PAYMENTSINVESTMENT BUDGETINVESTMENT CLIMATEINVESTMENT EXPENDITURESLOCAL GOVERNMENTSMACROECONOMIC FRAMEWORKMACROECONOMIC POLICIESMARKET ECONOMYMEDIUM TERMMEDIUM TERM EXPENDITUREMEDIUM TERM EXPENDITURE FRAMEWORKMORAL HAZARDNATIONAL ECONOMYNEGATIVE IMPACTNET SAVINGSPENSION FUNDPOLICY INTERVENTIONSPOLICY PERSPECTIVEPOLICY STANCEPOOR HOUSEHOLDSPOVERTY GAPPOVERTY RATEPOVERTY RATESPOVERTY REDUCTIONPOVERTY REDUCTION STRATEGYPRIMARY HEALTH CAREPRIVATE INVESTMENTPRIVATE SAVINGPRIVATE SECTORPRIVATE SECTOR INVESTMENTPROGRAMSPUBLICPUBLIC ADMINISTRATIONPUBLIC ADMINISTRATION REFORMPUBLIC CAPITALPUBLIC CONSUMPTIONPUBLIC DEBTPUBLIC EMPLOYMENTPUBLIC EXPENDITUREPUBLIC EXPENDITURE EFFICIENCYPUBLIC EXPENDITURE MANAGEMENTPUBLIC EXPENDITURE POLICYPUBLIC EXPENDITURE REVIEWPUBLIC EXPENDITURESPUBLIC FINANCEPUBLIC FINANCESPUBLIC FINANCIAL MANAGEMENTPUBLIC GOODSPUBLIC HEALTHPUBLIC INFRASTRUCTUREPUBLIC INSTITUTIONSPUBLIC INVESTMENTPUBLIC INVESTMENT SPENDINGPUBLIC RESOURCESPUBLIC SECTORPUBLIC SECTOR EMPLOYEESPUBLIC SECTOR PRODUCTIVITYPUBLIC SECTOR WAGEPUBLIC SECTOR WAGE BILLPUBLIC SECTOR WAGESPUBLIC SERVICESPUBLIC SPENDINGPUBLIC WAGEPUBLIC WORKERSRAILWAYRAILWAY LINESREDUCING POVERTYREFORM EFFORTSREFORM PROGRAMREFORM STRATEGYRESOURCE ALLOCATIONREVENUE MOBILIZATIONREVENUE SOURCESROADROAD FUNDSROAD MAINTENANCEROAD NETWORKROAD SECTORROAD USERSROADSRURAL AREASRURAL POVERTYSAFETYSECTOR ACTIVITYSECTORAL REALLOCATIONSIZE OF GOVERNMENTSOCIAL ASSISTANCESOCIAL BENEFITSSOCIAL EXPENDITURESSOCIAL INSURANCESOCIAL PROTECTIONSOCIAL SAFETY NETSSOCIAL SPENDINGSTATE ASSETSSTATE BUDGETSTRATEGIC ALLOCATIONSTRATEGIC PRIORITIESTAX BASETAX BURDENTAX POLICYTAX REVENUESTAXATIONTOTAL EXPENDITURESTOTAL SPENDINGTRANSITION PROCESSTRANSPARENCYTRANSPORTTRANSPORT COSTSTRANSPORT NETWORKTRANSPORT RESOURCESTRANSPORT SECTORUNCERTAINTYUNFUNDED LIABILITIESVULNERABLE GROUPSWorld Bank10.1596/8035