There has been progress in strengthening public financial management; however, improving budget execution and strengthening public finances is required. The tax and custom administration reforms will help bolster private sector-led growth and meet the ambitious revenue target to finance priority...

The policies in a challenging political and economic environment are discussed in this study. The importance of reforms to enhance the budget process, tax administration, and expenditure control is encouraged. A higher growth path will require far-reaching structural reforms to bolster Comoros's...

This 2011 Article IV Consultation reviews Côte d’Ivoire’s economic condition. Côte d’Ivoire is emerging from a decade-long sociopolitical crisis that has held back its economic growth. In 2009, Côte d’Ivoire adopted an economic and financial program supported by a three-year Extended...

Strong policy implementation under the Stand By-Arrangement (SBA) has contributed to Latvia’s economic recovery and put attainment of Maastricht criteria for euro adoption within reach. The government has continued to achieve substantial fiscal savings and strengthened its active labor...

This 2011 Article IV Consultation highlights that economic growth in Hungary is slowing and market perception of recent policy measures has been negative. The eurozone crisis is weighing on Hungary’s external demand. Fiscal and monetary policies are facing constraints, given financial...

This 2008 Article IV Consultation highlights that economic growth in Mauritius is responding to structural reform efforts. Tax reform, together with improvements in the business environment and investment initiatives, has spurred foreign investment to unprecedented levels and accelerated growth....

This 2006 Article IV Consultation highlights that economic performance of the Czech Republic strengthened during 2005–06, supported by the expanding capacity of the export-oriented automotive sector and a cyclical recovery in the European Union. The momentum of growth has been underpinned...

Slovenia is set to become the first among the new European Union member states to adopt the euro. Executive Directors emphasized the need to implement policies that increase productivity, create an efficient business environment and a flexible labor market, and improve sustainability of public...

This 2005 Article IV Consultation highlights that Mongolia’s overall economic performance was stronger than expected and broad based in 2004 and early 2005. Sectoral contributions to high growth included a rebound in the livestock sector from harsh winter shocks of 2000–01 and...

A weakness of decentralization and overall tax reforms in Latin America is the lack of attention to adequate taxation at the subnational government. A reliance on shared taxes with extensive earmarking leads to weak subnational accountability and soft budget constraints. The paper explores the...