Moldova Public Expenditure Review : Capital Expenditures - Making Public Investment Work for Competitiveness and Inclusive Growth in Moldova

This public expenditure review (PER) for Moldova is the result of a body of programmatic fiscal work. This PER focuses on capital expenditure. It supports the first pillar of the country partnership strategy (improving economic competitiveness) and...

Full description

Bibliographic Details
Main Author:	World Bank
Format:	Public Expenditure Review
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	ACCOUNTING ALLOCATION ALLOCATION OF CAPITAL ANNUAL BUDGET ANNUAL BUDGET PROCESS ARTICLE BALANCE SHEETS BENEFICIARIES BUDGET BUDGET CLASSIFICATION BUDGET DEFICIT BUDGET EXECUTION BUDGET EXPENDITURE BUDGET FRAMEWORK BUDGET PREPARATION BUDGET PREPARATION PROCESS BUDGET SUBMISSION BUDGETARY CONSTRAINTS BUDGETARY PROCESS BUDGETARY SYSTEM BUDGETING PROCESS BUDGETS CAPACITY CONSTRAINTS CAPITAL ASSETS CAPITAL BUDGET CAPITAL BUDGETING CAPITAL EXPENDITURE CAPITAL EXPENDITURES CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITAL PROJECTS CAPITAL SPENDING CAPITAL TRANSFERS CENTRAL GOVERNMENT CENTRAL GOVERNMENT BUDGET COMPETITION CORPORATE INCOME TAX COST EFFECTIVENESS COST ESTIMATES COST-BENEFIT ANALYSIS COST-EFFECTIVENESS DEBT DEBT DYNAMICS DEBT SUSTAINABILITY DECENTRALIZATION DECISION-MAKING DOMESTIC FUNDING DOMESTIC INVESTMENT DONOR FUNDS DUE PROCESS ECONOMIC CLASSIFICATION ECONOMIC GROWTH ECONOMIC RECOVERY ECONOMIES OF SCALE EDUCATION REFORM EDUCATION SYSTEM EFFICIENCY GAINS EQUITY ISSUES EVALUATION CAN EXCHANGE RATE EXCHANGE RATES EXCHANGE RESERVES EXPENDITURE ANALYSIS EXPENDITURE LEVELS EXPENDITURE OUTCOMES EXTERNAL ASSISTANCE EXTERNAL DEBT EXTERNAL FINANCING EXTERNAL GRANTS EXTERNAL LOANS EXTERNAL SHOCKS FINANCIAL ACCOUNTABILITY FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL PERFORMANCE FINANCIAL RESOURCES FINANCIAL SECTOR FISCAL ADJUSTMENT FISCAL ANALYSIS FISCAL BALANCE FISCAL CONSOLIDATION FISCAL CONSTRAINTS FISCAL DEFICIT FISCAL DISCIPLINE FISCAL ENVELOPE FISCAL POLICY FISCAL PRESSURES FISCAL REPORTING FISCAL SUSTAINABILITY FOREIGN EXCHANGE FOREIGN FINANCING GOVERNMENT BUDGET GOVERNMENT DEFICIT GOVERNMENT FINANCE GOVERNMENT FINANCE STATISTICS GOVERNMENT REVENUE GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROWTH MODEL GROWTH RATE HEALTH CARE HEALTH CARE SECTOR HEALTH CENTERS HEALTH SECTOR INFLATION INFLATION TARGET INFRASTRUCTURE INVESTMENT INTANGIBLE ASSETS INVESTMENT BUDGET INVESTMENT BUDGETING INVESTMENT EXPENDITURE MACROECONOMIC INDICATORS MACROECONOMIC MANAGEMENT MACROECONOMIC STABILITY MASTER PLAN MEDIUM-TERM EXPENDITURE MINISTRY OF ECONOMY MINISTRY OF FINANCE MUNICIPALITIES NATIONAL AUTHORITIES NATIONAL BANK NATIONAL DEVELOPMENT NATIONAL ECONOMY NATIONAL PRIORITIES NATIONAL STATISTICS NATIONAL STRATEGIC OBJECTIVES NET INFLOWS PERFORMANCE INFORMATION POVERTY PROFILE POVERTY REDUCTION PRICE INDEX PRIVATE CONSUMPTION PRIVATE SECTOR PRIVATE SECTOR INVOLVEMENT PROGRAM DESIGN PROGRAMS PUBLIC AUTHORITIES PUBLIC AUTHORITY PUBLIC CAPITAL PUBLIC CONSUMPTION PUBLIC DEBT PUBLIC EXPENDITURE PUBLIC EXPENDITURE REVIEW PUBLIC FINANCE PUBLIC FINANCIAL INSTITUTIONS PUBLIC FINANCIAL MANAGEMENT PUBLIC GOODS PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC PRIVATE PARTNERSHIPS PUBLIC PROCUREMENT PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SERVICE PUBLIC SERVICE DELIVERY PUBLIC SERVICES QUALITY OF SERVICES REAL GROWTH REALLOCATIONS RECURRENT EXPENDITURE RECURRENT EXPENDITURES REFORM AGENDA REFORM PROGRAM REFORM STRATEGY REGULATORY FRAMEWORK RESOURCE ALLOCATION RESOURCE ALLOCATIONS RESOURCE CONSTRAINTS REVENUES ROAD FUND ROAD MAINTENANCE ROAD NETWORK ROAD TRANSPORT SANITATION SANITATION SERVICES SECTOR POLICIES SECTOR POLICY SECTOR PROGRAMS SERVICE PROVIDERS SOCIAL ASSISTANCE SOCIAL BENEFITS SOCIAL CONTRIBUTIONS SOCIAL INSURANCE STRATEGIC PRIORITIES STRUCTURAL DEFICIT STRUCTURAL REFORMS SUSTAINABILITY ANALYSIS TAX ADMINISTRATION TAX BURDEN TAX COLLECTION TAX POLICY TAX RATES TAX REVENUE TAXES TOTAL EXPENDITURE TRANSPARENCY UNCERTAINTY
Online Access:	http://documents.worldbank.org/curated/en/2013/06/18489947/moldova-public-expenditure-review-capital-expenditures-making-public-investment-work-competitiveness-inclusive-growth-moldova http://hdl.handle.net/10986/16766

Description
Summary:	This public expenditure review (PER) for Moldova is the result of a body of programmatic fiscal work. This PER focuses on capital expenditure. It supports the first pillar of the country partnership strategy (improving economic competitiveness) and complements the 2012 development policy operation. In the context of economic recovery and stabilization, government requested World Bank assistance in improving its capital allocation mechanism, as its fiscal consolidation program attempted to create space for critical infrastructure whilst gradually reducing the state's footprint in the economy. This report recommends ways to strengthen public investment processes, institutions, and sector policies to achieve better outcomes for public capital expenditures in Moldova. This report suggests reforms in public investment management and sector policies to raise cost-effectiveness and allocative efficiency of capital expenditures. Three key areas of reform are: (i) raise the quality of new projects by improving preliminary screening and project appraisal mechanisms; (ii) improve selection of new projects and ensure continuity of funding for ongoing projects through better prioritization and budgeting processes; and (iii) strengthen monitoring of project implementation for cost efficiency and timely delivery of public services. The report has four chapters. The first chapter presents the macroeconomic outlook and its implications for fiscal policy, particularly with respect to the capital budget. The second chapter presents the structure and classification of the capital budget as well as recent trends in capital expenditure levels and execution, and reviews the adequacy of resource allocations and utilization across sectors, given investment needs, national priorities and implementation capacity. The third chapter reviews public investment management processes and presents recommendations to improve the efficiency of public capital expenditure in Moldova. The fourth chapter discusses specific sector challenges and offers recommendations for improving capital expenditure outcomes.

Moldova Public Expenditure Review : Capital Expenditures - Making Public Investment Work for Competitiveness and Inclusive Growth in Moldova

Similar Items