The 2012 Article IV Consultation discusses the economic outlook for Kuwait for 2012, which is broadly positive. Economic recovery is expected to strengthen, led by high government expenditure—particularly wages and capital expenditure. High fiscal and external surpluses are expected to...

Timor-Leste weathered the global financial crisis well and experienced healthy economic growth rates. It has made solid progress in strengthening the public financial management systems. The budget document provides comprehensive information; fiscal transparency is high. The Ministry of Finance...

This report reviews the Article IV Consultation with Algeria on economic developments and policies. Algeria has enjoyed several years of strong economic performance driven by public spending, but continues to face important challenges. Nonhydrocarbon (NH) growth and job creation are largely...

The paper analyzes whether a budgetary system could be decentralized in the process of current building and operating of local governments. It presents key factors which define a centralization/decentralization ratio. A special focus is on the principles of distinction between budget...

The achievements in the third year of the Poverty Reduction Strategy Paper implementation have been satisfactory, given the difficult development environment resulting from the violent conflict and continued political instability. Nepal’s macrolevel indicators remain stable, despite...

This paper focuses on Uganda’s Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), Request for Waiver of Performance Criterion, and Extension of Arrangement. Performance relative to the program performance criteria and benchmarks has...