scholarly journals Ukraine

2019 ◽  
Vol 2019 (355) ◽  
Author(s):  
Keyword(s):  
Financial Management ◽  
Armed Conflict ◽  
Public Investment ◽  
System Reform ◽  
Structural Reforms ◽  
Fiscal Consolidation ◽  
Medium Term ◽  
Critical Areas ◽  
Public Financial Management ◽  
Decisive Action

After a deep economic crisis caused by a difficult external environment, an armed conflict in the East, and delays in the implementation of structural reforms, Ukraine has been showing some signs of recovery. To achieve a more sustainable fiscal consolidation, the Ukrainian authorities have recently adopted a broad Public Financial Management (PFM) System Reform Strategy, paving the way to decisive action in critical areas including medium-term budgeting, analysis and management of fiscal risks, and public investment management (PIM).

scholarly journals Republic of Poland

2019 ◽  
Vol 19 (287) ◽  
Author(s):  
Keyword(s):  
Financial Management ◽  
System Reform ◽  
Medium Term ◽  
Public Financial Management ◽  
General Government ◽  
Working Groups ◽  
Level Of Knowledge ◽  
Polish Government ◽  
High Level ◽  
The International Monetary Fund

This capacity development mission follows on two earlier missions conducted by the Fiscal Affairs Department (FAD) of the International Monetary Fund. These missions covered the development of a Standard Chart of Accounts (SCoA) and the Medium-Term Budget Framework (MTBF) that are part of the wider Public Financial Management reforms the Polish government is implementing. These reforms will improve consistency in reporting and provide a stronger basis for understanding the financial position of the general government. It will also help attain the medium-term objective of reducing the structural deficit to 1 percent of GDP by 2021. The mission commends the Polish Ministry of Finance (MoF), for the high level of commitment to the reforms. This commitment was evidenced in various actions and activities of government, including public pronouncements by the Minister of Finance. Also, the progress made with the implementation of the recommendations of the earlier missions was noted. Most notable was the establishment of the Budget System Reform (BSR)1 Project Governance Structures, the progress that various working groups have made with research on their respective topics, and the changes to the Budget Regulation of January 2019 to accommodate medium-term planning. This is supported by the high level of knowledge and expertise displayed by staff working on these reforms.

scholarly journals Solomon Islands

2020 ◽  
Vol 20 (49) ◽  
Author(s):  
Keyword(s):  
Financial Management ◽  
Solomon Islands ◽  
Public Investment ◽  
Sustainable Growth ◽  
Medium Term ◽  
Building Conditions ◽  
Public Financial Management ◽  
Exchange Rate Management ◽  
Governance Challenges ◽  
Substantial Progress

Solomon Islands has made substantial progress since the Tensions in the early 2000s but faces considerable economic and governance challenges and is highly vulnerable to natural disasters. Finding new sources of growth is becoming urgent with the decline in logging. Budget pressures are re-emerging; revenues have weakened while spending has picked up, including a sharp increase in payroll. Governance challenges stem from weak oversight of the resource sectors, a lack of transparency and a need to strengthen public financial management. The consultation focused on similar issues to last year—restoring fiscal buffers to build resilience, strengthening public financial management and public investment management, setting a medium-term fiscal strategy, improving governance, improving exchange rate management and building conditions for sustainable growth.

scholarly journals Central African Economic and Monetary Community (CEMAC)

2019 ◽  
Vol 19 (383) ◽  
Author(s):  
Keyword(s):  
Public Investment ◽  
Oil Prices ◽  
Terms Of Trade ◽  
Equatorial Guinea ◽  
Structural Reforms ◽  
Fiscal Consolidation ◽  
Significant Progress ◽  
Financial Policies ◽  
Trade Shocks ◽  
Global Growth

Tighter macroeconomic and financial policies helped to avert a deeper crisis, and gross external reserves increased more rapidly in recent months, largely exceeding the mid-2019 target. However, reserves are still below the level appropriate for commodityexporting economies (5 months of imports) to absorb terms of trade shocks. Fiscal consolidation has been tilted towards cuts in public investment. This, together with a lack of significant progress in structural reforms, has weighed on growth which remains too low. The outlook for 2019 and beyond foresees further improvement in regional reserves assuming CEMAC countries remain committed to their program objectives and new programs with CAR and Equatorial Guinea could start around end-2019. This outlook is subject to potentially significant risks, including: a significant slowdown in global growth and associated decline in oil prices; a deterioration in the security situation in some countries; and weaker implementation of IMF-supported programs.

Egypt weathers COVID-19 blow but debt risks loom large

2021 ◽  
Keyword(s):  
Emerging Markets ◽  
Growth Potential ◽  
Structural Reforms ◽  
Fiscal Consolidation ◽  
Medium Term ◽  
Content Type ◽  
Bond Index ◽  
Tourism Sector ◽  
The Imf

Significance The IMF praised Egypt’s “resilience” to the COVID-19 shock and encouraged Cairo to maintain its focus on fiscal consolidation while broadening structural reforms -- mainly to ease investors’ access to key opportunities in the economy -- that will help “unleash Egypt’s enormous growth potential in the medium term”. Impacts Egypt will need to go to the market again in 2021/22 through both conventional bonds and sukuk. The return of Russian tourists could generate USD3.5bn in revenues and is seen as critical to a recovery in the battered tourism sector. Egypt's inclusion in the FTSE Russell frontier index and JP Morgan’s emerging markets bond index could trigger large currency inflows.

scholarly journals Fiscal Reforms and Deficits in Tanzania: An Exploratory Review

2020 ◽  
Vol 30 (1) ◽  
pp. 57-75
Author(s):  
Joseph Mawejje ◽  
Nicholas M. Odhiambo
Keyword(s):  
Financial Management ◽  
Public Investment ◽  
Policy Reforms ◽  
Fiscal Deficits ◽  
Management Reform ◽  
Public Financial Management ◽  
Fiscal Reforms ◽  
Recent Trends ◽  
External Sector ◽  
Macroeconomic Environment

AbstractThis study provides an exploratory review of the trends, policy reforms, and determinants of fiscal deficits in Tanzania during the period 1980-2017. During this period, the country undertook various fiscal policy reforms intended to improve revenue mobilization and expenditure efficiency. The most significant of these reforms included the introduction of the semi-autonomous revenue authority and an extensive public financial management reform program. While the post-independence period was characterized by large fiscal deficits, recent trends show that fiscal deficits in Tanzania have been contained, even as some public investment management challenges exist. The review of trends and literature suggests that fiscal deficits are linked to the structure of the economy, low levels of development, donor aid and grants, as well as the overall macroeconomic environment. In particular, fiscal deficits are associated with growth cycles, inflationary episodes, and external sector developments.

scholarly journals Ukraine

2019 ◽  
Vol 19 (360) ◽  
Author(s):  
Keyword(s):  
Strategic Planning ◽  
Financial Management ◽  
Legal Basis ◽  
Medium Term ◽  
Core Component ◽  
Public Finances ◽  
Public Financial Management ◽  
Reform Strategy

Implementing strategic planning and a medium-term budget framework (MTBF) is a core component of Ukraine’s Public Financial Management (PFM) reform strategy. A pilot MTBF conducted in 2017 formed the basis for amendments to the Budget Code in December 2018, which firmly establish a MTBF as the basis for budget preparation. The amendments also establish a legal basis for related reforms, including regular spending reviews and monitoring and managing risks to public finances.

scholarly journals Samoa

2020 ◽  
Vol 20 (138) ◽  
Author(s):  
Keyword(s):  
Financial Management ◽  
Financial Stability ◽  
Social Protection ◽  
Medium Term ◽  
Safety Nets ◽  
Foreign Earnings ◽  
Public Financial Management ◽  
Vulnerability To Climate Change ◽  
Measles Outbreak ◽  
The Impact

This paper discusses Samoa’s Request for Disbursement Under the Rapid Credit Facility. Samoa has shown resilience to multiple past economic shocks, underpinned by the authorities’ strong commitment to support the economy, and financial assistance provided by the international community. The global coronavirus disease 2019 pandemic has exacerbated the impact of the measles outbreak of late-2019 on Samoa’s economy. The border closure, combined with a sudden stop of tourist arrivals and decline in remittances, has led to a precipitous fall in two vital sources of foreign earnings and resulted in an urgent balance of payments need. Beyond the immediate response, the authorities will continue to implement structural reforms, with policies appropriately balanced between safeguarding debt sustainability and promoting economic growth. They also need to continue their efforts to enhance spending efficiency, strengthen social protection programs and safety nets, further improve tax administration, strengthen public financial management, and safeguard financial stability. Addressing vulnerability to climate change remains a key medium-term challenge to create a fiscal buffer.

scholarly journals La Gestion Des Finances Publiques, Comment Gagner En Efficacite ?

2017 ◽  
Vol 13 (28) ◽  
pp. 407
Author(s):  
Sara Ameur
Keyword(s):  
Financial Management ◽  
Scientific Research ◽  
Structural Reforms ◽  
Deep Approach ◽  
Financial Situation ◽  
Public Finances ◽  
Public Financial Management

In a field as sophisticated as public finances, which concerns the lives of our fellow citizens and their future, it would be risky to want to reform without a deep approach to decrypt the management of public finances... It is true that it is simpler and even simplistic, to make the economic and financial situation bear the responsibility for the difficulties of public finances, but in order to remedy the main problems it is necessary to undertake structural reforms by the help of scientific research; And by conducting an evaluation of the effectiveness of public financial management.

scholarly journals Malaysia

2020 ◽  
Vol 20 (57) ◽  
Author(s):  
Keyword(s):  
Financial Stability ◽  
High Income ◽  
Structural Reforms ◽  
Inclusive Growth ◽  
Fiscal Consolidation ◽  
Medium Term ◽  
Public Finances ◽  
Reform Agenda ◽  
Income Status ◽  
Governance Reforms

The Malaysian economy is stable despite domestic and external challenges. The authorities are making progress on their reform agenda including governance reforms and measures to improve the transparency and management of public finances. Policies should focus on medium-term fiscal consolidation, while safeguarding growth and financial stability. Structural reforms are needed to enshrine in law main governance measures, and to boost productivity to achieve high income status and inclusive growth.

scholarly journals Ukraine

2019 ◽  
Vol 19 (342) ◽  
Author(s):  
Keyword(s):  
Financial Management ◽  
Technical Assistance ◽  
Medium Term ◽  
Major Step ◽  
Management Reform ◽  
Budget Planning ◽  
Public Financial Management ◽  
Reform Strategy ◽  
First Time ◽  
Roll Out

To strengthen the medium-term orientation of the budget, the authorities have committed to implement a full-fledged medium-term budget framework (MTBF) as part of their Public Financial Management Reform Strategy (2017–21). A pilot MTBF exercise was launched for the 2018 budget cycle, which will inform the roll-out of a more complete MTBF in 2019. The development of the MTBF has been supported by several FAD technical assistance missions in recent years, including in April this year. The 2018–20 draft Budget Declaration, submitted to the Cabinet of Ministers on June 1, is a major step forward in terms of establishing a medium-term orientation to budget planning. For the first time, important elements of a MTBF were included in the budget documentation, including the presentation of detailed medium-term macroeconomic and fiscal forecasts and expenditure ceilings for 2018–20.

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