World Bank2024-04-182024-04-182024-04-18https://hdl.handle.net/10986/41439This report focuses on Module II(a) related to raising fiscal space through efficiency improvements in public investment management (PIM). The report assessed the performance of the public investment program and how it can have contributed to the evolution of fiscal policy over the last decade. It therefore analyzed the performance of the capital budget and fiscal outcomes; outlined the gaps in public investment management and makes recommendations on the priorities for the next phase of PIM reforms to improve efficiency and create fiscal space. The diagnostic is based on information and evidence gathered through desk reviews of government documents and information gathered through interviews of a wide range of stakeholders within government, nongovernment organizations and academia, conducted during December of 2021 and April 2023.en-USCC BY-NC 3.0 IGOFISCAL POLICIESPUBLIC FINANCE MANAGEMENTEDUCATION EQUITYPRIVATE SECTOR MANAGEMENTPublic Expenditure ReviewWorld Bank10.1596/41439