Belarus faces significant fiscal challenges, stemming from the structural features of its economic model. As of mid-2011, under a severe exchange rate and balance of payments crisis, the Government needs to pursue a carefully sequenced strategy of macroeconomic adjustment coupled with a strong...

The objective of this paper is to provide practical recommendations for improving the effectiveness of the public financial management system as inputs to the envisaged Armenian public financial management (PFM) reform strategy. The paper aims at providing a comprehensive analysis of most of the...

This Report discusses the challenge of budget financing of core structural reforms, within a broader framework of fiscal management reforms in Russia. It argues that explicit financing of structural reforms is fully justifiable because these are the investments in the institutional...

The objective of this paper is to provide practical recommendations for improving the effectiveness of the public financial management system as inputs to the envisaged Armenian public financial management (PFM) reform strategy. The paper aims at providing a comprehensive analysis of most of the...

This 2003 Public Expenditure Review (PER) report addresses budget process challenges, at both the central and local government (LG) levels, highlighting the progress made, and identifying challenges for the future. The first chapter reviews country economic performance over the previous year and...

This report focuses principally on three key dimensions of better public expenditure management in Pakistan. First, it is paramount to continue financial discipline and reduce the overall size of the public sector deficit, including the sizable losses of public enterprises. The modest progress...

Following two decades of relatively rapid growth, and a decade of liberalization, there is growing confidence within India, as well as internationally, about the state of the economy, and India's development potential. Nonetheless, and particularly since the late nineties, when India's states...