Greening Public Budgets in Eastern Europe, Caucasus and - download pdf or read online



ISBN-10: 9264118284

ISBN-13: 9789264118287

ISBN-10: 9264118330

ISBN-13: 9789264118331

During the last twenty years, the nations of japanese Europe, Caucasus and significant Asia (EECCA) have gone through major political and financial reforms. As a part of this reform schedule, they've got all started modernising their public administrations and expenditure administration practices, bringing them towards overseas criteria. even if, the new international monetary and monetary trouble published a large number of final structural weaknesses within the public monetary platforms of those nations that badly affected their financial functionality. whereas this situation is a true problem, it additionally offers a chance for the EECCA governments to hurry up the implementation of public finance reforms (PFRs) with a purpose to offer a more healthy foundation for additional improvement. This document goals to assist EECCA environmental administrations to harness the capability advantages of on-going PFRs; fairly the shift to multi-year budgeting, balance of investment, and, finally, a more suitable use of public cash. extra in particular, the level to which the environmental region is built-in into medium-term budgetary approaches is analysed. in this foundation, the possibilities for, and bounds to, reaching monetary sustainability of public environmental programmes are pointed out. The research relies on a local survey of 10 EECCA international locations that concerned either ministries of surroundings and finance.    

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1. , million inhabs. 7 Georgia Kazakhstan Kyrgyz Republic Moldova Russian Federation GDP per capita USD GDP real growth % change General gov. tax revenue % of GDP General gov. expend. % of GDP General gov. balance, % of GDP General gov. 1 Ukraine Uzbekistan Note: * – 2008 data; ** – 2007 data; n/a – data non available. Source: IMF, World Bank, EBRD. As a result of the crisis and contracted economies, the fiscal position of the EECCA governments has weakened by the generally low share of government tax revenue in GDP which has also substantially declined in 2009 in comparison with 2008.

However, this rapid credit growth expansion in Ukraine could have possibly contributed to the subsequent liquidity problems in the sector. 4) and spreads reflect the still fragile credit market in the region. GREENING PUBLIC BUDGETS IN EASTERN EUROPE, CAUCASUS AND CENTRAL ASIA © OECD 2011 32 – 2. 4. Lending interest rates (%), 2009 30% 25% 20% 15% 10% 2009 5% 0% Source: World Bank database, International Monetary Fund, Global Financial Stability Report. After a period of very high inflation at the beginning of the transition period, in 2001, half of the countries in the region slashed annual inflation to a single digit number.

Introduction of programme and performance budgeting methods Introduced as a two-year “experiment”, budget institutions were first invited to prepare and execute their budgets on a result-oriented basis for the 2005 and 2006 budgets. Specifically, there is a requirement for budget institutions to report on results and to develop mechanisms for monitoring the efficiency of resource use. This implies that federal “earmarked programmes” for large investment, research and structural projects will be restructured to reflect efficiency objectives (and their number will be reduced).

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Greening Public Budgets in Eastern Europe, Caucasus and Central Asia by OECD

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