World Bank2013-08-142013-08-142003-080-8213-5584-8https://hdl.handle.net/10986/15086This is the first full-scale World Bank Public Expenditure Review for Armenia, which reviews the main fiscal trends in the country for the period 1997-2001, and develops recommendations with respect to further fiscal adjustment, expenditure prioritization, and budget consolidation. The analysis focuses on core issues, i.e., sustainability of fiscal adjustment, fiscal transparency, expenditure priorities, and short-term expenditure management, given the existing economy-wide institutional constraints. The study covers extra-budgetary funds, in-kind external grants, subsidies provided by the state-owned companies in the energy, and utility sectors, and operations of the Social Insurance Fund, as well as regular spending. It suggests a medium-term action plan to address identified weaknesses. Sectoral chapters review health, education, and social protection and insurance. The study also analyzes budget support for core public infrastructure, and the country's public investment program.en-USCC BY 3.0 IGOACCOUNTABILITYACCOUNTINGACCOUNTING STANDARDSANNUAL BUDGET CYCLEAPPROPRIATIONSAVAILABLE DATABUDGET ALLOCATIONSBUDGET DEFICITBUDGET EXECUTIONBUDGET EXPENDITURESBUDGET FORMULATIONBUDGET LAWBUDGET LIABILITIESBUDGET MANAGEMENTBUDGET PROCESSBUDGET REFORMSBUDGET REVENUESBUDGET SYSTEMBUDGETARY FUNDSCAPACITY BUILDINGCENTRAL BANKCIVIL SERVICE REFORMSCPICURRENCY UNITDATA COLLECTIONDEFICIT FINANCINGDEVELOPING COUNTRIESDONOR ASSISTANCEEBFECONOMIC COOPERATIONECONOMIC DEVELOPMENTECONOMIC GROWTHECONOMIC PERFORMANCEECONOMIC RECOVERYEXCHANGE RATEEXECUTIONEXPENDITURE CATEGORIESEXPENDITURE REFORMEXTERNAL SOURCESEXTREME POVERTYFINANCIAL CRISISFINANCIAL MANAGEMENTFINANCIAL PERFORMANCEFINANCIAL REPORTINGFINANCIAL REQUIREMENTSFISCALFISCAL ADJUSTMENTFISCAL BALANCEFISCAL DEFICITFISCAL DEFICITSFISCAL MANAGEMENTFISCAL OPERATIONSFISCAL PERFORMANCEFISCAL PROBLEMSFISCAL TRANSPARENCYFOREIGN DIRECT INVESTMENTFOREIGN INVESTORSFORMAL SECTORGOVERNMENT BUDGETGOVERNMENT COMMISSIONGOVERNMENT GUARANTEESGOVERNMENT POLICIESGOVERNMENT SECTORGROSS DOMESTIC PRODUCTGROWTH RATESHEALTH CAREHOUSEHOLD EXPENDITURESINCOMEINFLATIONINFORMAL ECONOMYINSTITUTIONAL ASSESSMENTINSTITUTIONAL CONSTRAINTSINSTITUTIONAL REFORMSINTERNAL AUDITINTERNATIONAL MONETARY FUNDINTERNATIONAL RESERVESLEGAL FRAMEWORKLEGISLATIONLICENSESLIVING CONDITIONSLOCAL TAXESMACROECONOMIC STABILITYMINISTRY OF FINANCENATIONAL EXPENDITURESOVERALL EXPENDITUREPAYROLL TAXESPENSION FUNDPOVERTY ALLEVIATIONPOVERTY REDUCTIONPOVERTY REDUCTION STRATEGYPRESENT VALUEPRIVATE SECTORPUBLIC ADMINISTRATIONPUBLIC BORROWINGPUBLIC DEBATEPUBLIC DEBTPUBLIC EDUCATIONPUBLIC EMPLOYMENTPUBLIC EXPENDITUREPUBLIC EXPENDITURE MANAGEMENTPUBLIC EXPENDITURE REFORMPUBLIC EXPENDITURE REVIEWPUBLIC EXPENDITURESPUBLIC FINANCINGPUBLIC HEALTHPUBLIC HEALTH EXPENDITURESPUBLIC INFRASTRUCTUREPUBLIC INVESTMENTPUBLIC INVESTMENTSPUBLIC RESOURCESPUBLIC SECTORPUBLIC SERVICESPUBLIC SPENDINGPUBLIC UTILITIESPURCHASING POWERPURCHASING POWER PARITYQUASI-FISCAL DEFICITSRATIONALIZATIONREAL TERMSREHABILITATIONRESOURCE ALLOCATIONRESOURCE USEREVENUE COLLECTIONREVENUE PERFORMANCEROADSSAVINGSSOCIAL ASSISTANCESOCIAL INSURANCESOCIAL PROTECTIONSOCIAL SECTORSSOCIAL SECURITYSOCIAL SERVICESSTATE BUDGETSTATE ENTERPRISESSTATE REVENUESSTATE-OWNED ENTERPRISESSTRUCTURAL ADJUSTMENTTAXTAX ADMINISTRATIONTAX ARREARSTAX COLLECTIONTAX COLLECTIONSTAX EXEMPTIONSTAX REVENUESTAXATIONTIGHT MONETARY POLICYTOTAL EXPENDITURESTREASURYUNEMPLOYMENTUNEMPLOYMENT BENEFITSWAGESWELFARE EFFECTS PUBLIC EXPENDITURESFISCAL ADMINISTRATIONFISCAL CONSTRAINTSFISCAL ADJUSTMENTSBUDGETARY PROCESSEXPENDITURE ANALYSISPUBLIC SECTOR MANAGEMENTINSTITUTIONAL FRAMEWORKEXTERNAL FINANCESUBSIDIESSTATE-OWNED ENTERPRISESENERGY SECTORPUBLIC UTILITY REGULATIONSOCIAL INSURANCE FUNDSPUBLIC HEALTH CAREEDUCATION SECTORSOCIAL PROTECTION SYSTEMSINFRASTRUCTUREPUBLIC INVESTMENT PROGRAMSWorld Bank10.1596/0-8213-5584-8