and progress in public expenditure management. FNDP has strengthened its focus on key issues, emphasizes achieving …

growth in the second half of 2012. The government has launched a three-year fiscal initiative to enhance job opportunities … and preserve fiscal and external sustainability. Plans have been identified to strengthen banks, control mortgages, and …

quantitative performance criteria were met, notably the targets for the fiscal deficit, revenues, and social expenditure. The …

exerting an increasing influence on economic policy decisions. The overall fiscal balance has been kept below budget and …

developments and policies. Fiscal and structural reforms are needed for the FSM to achieve self-sufficiency. The large government … sector will be increasingly unsustainable given coming declines in grants. Fiscal adjustment will need to comprise both … expenditure cuts and revenue measures. Structural reform priorities should include improvements to the legal framework for land …

. In the medium term, real GDP growth is expected to average 6 percent per year, and fiscal consolidation is projected to … continue, driven by an improvement of revenue performance and modest expenditure increases. …

-oil revenue and improving expenditure monitoring and control are critical to strengthening the fiscal position. Structural …

placed on the budget by extrabudgetary expenditures, which reduced the funding available to PRSP programs and activities. The … arrangement has been off track since April 2003 owing to fiscal slippages, in particular salary and wage overrun, which led to …