At a time when public expenditure is undergoing change to accommodate new needs, this report studies the impact of four institutions of the budget process upon re-allocation: medium-term expenditure frameworks, rules of budgetary discipline, the Minister of finance, and programme review. It...

This volume discusses progress made to date in Argentina, Brazil, Chile and Mexico in putting their finances in order and points out the challenges ahead. It provides an overview of trends and highlights the diversity of fiscal adjustment processes in Latin American countries. It also describes...

For most countries in the OECD, 2015 is the seventh or eighth year of dealing with the budgetary consequences of the economic and financial crisis. These years have been marked by challenges of fiscal retrenchment of a scale and nature unprecedented in modern times. Previous OECD publications...

Despite considerable progress made by Latin America's biggest economies in putting their finances in order, numerous challenges remain.  Public spending needs to incorporate more flexibility, ageing populations and social demands threaten future pressures on expenditure, and social and...

This report gives an update on fiscal consolidation strategies across OECD member countries since last year. Chapter 1 describes the scope and composition of country plans, compares them with calculated fiscal need, and provides information on the timing and details. Chapter 2 contains notes on...

"How to make the most of public investment? This question is critical in today's tight fiscal environment. Given that sub-national governments in OECD countries carry out more than two thirds of total capital investment, they have played a key role in executing national stimulus packages during...