World Bank2012-06-112012-06-112007-06https://hdl.handle.net/10986/7732This Integrated Fiduciary Assessment is the first of its kind for Sao Tome and Principe. It combines the analysis and policy recommendations from a public expenditure review (PER), a country financial accountability assessment (CFAA), and a country procurement assessment review (CPAR). The goal of the report is to identify the major challenges facing the country in the prepetroleum era (the next three to five years) in public finance management (including public enterprises) as it attempts to implement its National Poverty Reduction Strategy (NPRS) with a tight resource envelope. This executive summary presents recent economic developments and fiscal sustainability analysis that takes into account petroleum and no-petroleum scenarios, with corresponding analysis on which of the Millennium Development Goals (MDGs) are reachable. The summary reports on revenue and expenditure performance since 2000-01, issues related to the implementation of the public investment program (PIP) and its coordination with the NPRS, and the budget process, including findings from the Health PER, which highlights a lack of allocative efficiency. The summary reports on the financial fragility of state-owned enterprises (SOEs) and the possible fiscal consequences for the central budget, especially regarding the implicit subsidies and tax breaks to (and the hypothetical tariff increases of) the electricity and water company. The summary of reports on the status of the public finance management system (budget preparation, execution, control, governance, and human resources) and the reform process that may address many of the concerns it rises. Finally, the summary presents the findings related to the procurement process, including the legislative and regulatory framework, institutional framework and management capacity, procurement operations and market practices, and integrity and transparency of the system.en-USCC BY 3.0 IGOACCESS TO INFORMATIONACCOUNTINGACCOUNTING SYSTEMALLOCATIONALLOCATION OF RESOURCESANNUAL BUDGETARTICLEAUDIT SYSTEMBENEFICIARIESBUDGET ALLOCATIONSBUDGET CYCLEBUDGET DISCIPLINEBUDGET DOESBUDGET EXECUTIONBUDGET FORMULATIONBUDGET IMPLEMENTATIONBUDGET LAWBUDGET MANAGEMENTBUDGET MANAGEMENT PROCESSBUDGET PLANNINGBUDGET PREPARATIONBUDGET PROCESSBUDGET SUPPORTBUDGETARY CONSTRAINTSBUDGETARY DISCIPLINEBUDGETARY IMPACTBUDGETARY PRACTICESBUDGETARY PROCESSBUDGETARY RESOURCESBUDGETARY SYSTEMBUDGETING PROCESSCAPACITY BUILDINGCAPITAL EXPENDITURECAPITAL EXPENDITURESCASH BUDGETINGCASH FLOWCASH FLOWSCASH MANAGEMENTCENTRAL BANKCENTRAL BUDGETCENTRAL GOVERNMENTCIVIL SERVANTSCIVIL SERVICECONFLICTS OF INTERESTCONTINGENT LIABILITIESCOST ESTIMATESCOST RECOVERYCOST-EFFICIENCYCOUNTERPART FUNDSCOUNTRY PROCUREMENTCOUNTRY PROCUREMENT ASSESSMENTDATA AVAILABILITYDEBTDEBT RELIEFDECENTRALIZATIONDECISION-MAKERSDEVELOPMENT BANKDOMESTIC DEMANDDOMESTIC EXPENDITUREDOMESTIC MARKETDOMESTIC REVENUEDONOR COORDINATIONDONOR FINANCINGDONOR FUNDSECONOMIC CLASSIFICATIONECONOMIC GROWTHEXPENDITURE BUDGETEXPENDITURE CATEGORIESEXPENDITURE PLANNINGEXPENDITURE POLICIESEXPENDITURE PROCESSEXPENDITURESEXTERNAL AIDEXTERNAL AUDITSEXTERNAL FINANCINGEXTERNAL SHOCKSFIDUCIARY ASSESSMENTFINANCIAL ACCOUNTABILITYFINANCIAL FLOWSFINANCIAL IMPACTFINANCIAL IMPLICATIONSFINANCIAL INFORMATIONFINANCIAL MANAGEMENTFINANCIAL MANAGEMENT SYSTEMSFINANCIAL POSITIONFINANCIAL PROGRAMFINANCIAL PROGRAMMINGFINANCIAL REQUIREMENTSFINANCIAL RESOURCESFINANCIAL STATUSFISCAL ADJUSTMENTFISCAL CONSEQUENCESFISCAL CONSTRAINTFISCAL DEFICITFISCAL DEFICITSFISCAL DISCIPLINEFISCAL OPERATIONSFISCAL POLICIESFISCAL REVENUEFISCAL STANCEFISCAL SUSTAINABILITYFISCAL YEARSGENERAL ACCOUNTSGOVERNMENT ACCOUNTINGGOVERNMENT BUDGETGOVERNMENT EXPENDITUREGOVERNMENT REVENUESGROSS DOMESTIC PRODUCTHARD BUDGET CONSTRAINTSHEALTH CAREHEALTH CARE SYSTEMHEALTH SECTORHEALTH SERVICESHEALTH UNITSINFLATIONINFORMATION EXCHANGEINFORMATION TECHNOLOGYINTERNAL AUDITINTERNAL CONTROLINTERNAL CONTROLSINVESTMENT BUDGETINVESTMENT BUDGETINGLOCAL TAXESLONG-TERM DEBTMACROECONOMIC FRAMEWORKMACROECONOMIC MODELMEDIUM TERM EXPENDITUREMEDIUM TERM EXPENDITURE FRAMEWORKMONETARY DISCIPLINEMONETARY POLICYNATIONAL AUTHORITIESNATIONAL BUDGETSNATIONAL DEVELOPMENTNATIONAL INCOMENATIONAL POLICYNATIONAL STRATEGYNATURAL DISASTERSNATURAL RESOURCESNET LENDINGOIL PRICESPOVERTY REDUCTIONPOVERTY REDUCTION STRATEGYPRIMARY DEFICITSPRIVATE ENTERPRISESPRIVATE INVESTMENTPRIVATE SECTORPROCESS OF BUDGET EXECUTIONPROCUREMENT PROCESSPROGRAMSPUBLIC ACCOUNTSPUBLIC ADMINISTRATIONPUBLIC BUDGETPUBLIC COMPANIESPUBLIC DEBTPUBLIC ENTERPRISESPUBLIC EXPENDITUREPUBLIC EXPENDITURE ANALYSISPUBLIC EXPENDITURE REVIEWPUBLIC FINANCEPUBLIC FINANCIAL MANAGEMENTPUBLIC FUNDSPUBLIC INVESTMENTPUBLIC INVESTMENT PROGRAMPUBLIC MANAGEMENTPUBLIC OFFICIALSPUBLIC PROCUREMENTPUBLIC REVENUESPUBLIC SECTORPUBLIC SECTORSPUBLIC SERVICEPUBLIC SPENDINGPUBLIC WORKSRECURRENT EXPENDITUREREFORM PROCESSREFORM PROGRAMREGIONAL ADMINISTRATIONREGULATORY FRAMEWORKRESERVE FUNDSSECTOR POLICIESSERVICE DELIVERYSOCIAL EXPENDITURESSOCIAL INDICATORSSOCIAL PROGRAMSSOCIAL PROJECTSSTATE BUDGETSTRUCTURAL DEFICITSTRUCTURAL DEFICITSSTRUCTURAL REFORMSSUSTAINABILITY ANALYSISTAX BREAKSTAX COLLECTIONTAX EXEMPTIONSTAX REVENUETAX REVENUESTAX SYSTEMTOTAL CURRENT EXPENDITURESTOTAL EXPENDITURETOTAL PUBLIC EXPENDITURETOTAL SPENDINGTRANSPARENCYTREASURYWEAK BUDGET EXECUTIONWorld Bank10.1596/7732