Postponement of 2012 VAT Law requires significant early adjustments in the FY18 Budget to tap additional sources of … on developments in non-development capital expenditures, loans and advances, and block allocations in the revenue budget … expensive domestic financing of the budget deficit …

The performance of the capital budget has been a subject of debate between the legislative and executive arms of the … Nigerian government since 1999. Available statistics suggest that the annual budget has not been able to improve the lives of … Nigerians over the past several years because of the weak link between capital budget implementation and poverty reduction, as …

country PFM reforms that could contribute towards budget income in Kenya and Rwanda. We find that Political will and … budget impact as evidenced in our case for Rwanda. In contrast, limitation of such policy factors in PFM value chain … undermines the fiscal impact of reforms as found in Kenya. Keywords: Public Financial Management, Kenya, Rwanda, PEFA, budget …