Bulgaria has traditionally adhered to fiscal discipline and prudent fiscal policy since the introduction of its currency board arrangement in mid-1997. After a gradual decline in the 2000s, public debt has remained among the lowest in the European Union (EU), hovering in a narrow band between 17...

Mauritius's economy has grown dramatically since the country's independence in 1968, and its rapid development offers a powerful example for developing economies worldwide. However, growth dynamism has waned in recent years. In addition, Mauritius was hard-hit by the COVID-19 pandemic and...

This Public Expenditure and Financial Accountability (PEFA) performance assessment report evaluates the seven core pillars of the public financial management (PFM) system of the Government of the Philippines (Government) as set out in the summary assessment below. It evaluates how effectively...

Since the global economic and financial crisis of 2008, Serbia has struggled with a weak economy and a deteriorating fiscal position. Until 2008, fiscal deficits were moderate and public debt declined significantly. Since the start of the global economic and financial crisis in 2008, however,...

The role of public financial management (PFM) as a contributory factor in improving service delivery and stimulating economic progress is getting greater attention in the sector-related literature. A robust PFM can provide an enabling environment for improving service delivery and promoting...

The report and the summary review the recent economic and fiscal performance of Mongolia; outline current medium-term prospects of Mongolia's economy; discuss short-term risks and structural vulnerabilities; and comment on the efficiency of past public investment programs and practices

Capital investment is essential for achieving sustainable cities. Melaka State's long-term sustainability can be improved through well-planned investments in various projects, such as the development of ports and rail connections, a robust public transportation network, and adequate flood...

Benefiting from successful economic transformation after independence and the start of EU accession negotiations, economic activity in Montenegro has been solid, supporting the rise in incomes their convergence with the ones in the European Union. Inflation has been modest and kept in check....