Tajikistan : Capital Expenditures and Public Investment Management

Tajikistan : Capital Expenditures and Public Investment Management

This policy note is part of the World Bank's Programmatic Public Expenditure Review (PER) work program for FY2012-2014. The PER consists of a series of fiscal policy notes, which aim at providing the Government of Tajikistan with recommendatio...

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Main Author: World Bank
Format: Public Expenditure Review
Language:English
en_US
Published: Washington, DC 2014
Subjects:
AUDIT
BUDGET
CAPITAL SPENDING
DOMESTIC RESOURCES
ECONOMIC GROWTH
EXTERNAL FINANCING
FISCAL POLICY
FRAGMENTATION
IMPLEMENTATION
PLANNING
PUBLIC INVESTMENT MANAGEMENT
Online Access:http://documents.worldbank.org/curated/en/2014/06/19766470/capital-expenditures-public-investment-management
http://hdl.handle.net/10986/20750
id okr-10986-20750
recordtype oai_dc
spelling okr-10986-207502021-04-23T14:03:56Z Tajikistan : Capital Expenditures and Public Investment Management World Bank AUDIT BUDGET CAPITAL SPENDING DOMESTIC RESOURCES ECONOMIC GROWTH EXTERNAL FINANCING FISCAL POLICY FRAGMENTATION IMPLEMENTATION PLANNING PUBLIC INVESTMENT MANAGEMENT This policy note is part of the World Bank's Programmatic Public Expenditure Review (PER) work program for FY2012-2014. The PER consists of a series of fiscal policy notes, which aim at providing the Government of Tajikistan with recommendations to strengthen budgetary processes and analysis. This policy note, the sixth in the series continues the fiscal policy dialogue conducted in the previous notes. It is structured as follows. Chapter 2 sets a macro-fiscal context for the analysis with a particular focus on fiscal policy challenges. Chapter 3 analyzes the composition and trends in capital expenditures to identify issues and offer solutions for improving efficiency of capital spending. Chapter 4 reviews a public investment management process in Tajikistan to identify weaknesses in the capital budgeting cycle (planning, budgeting, implementation, and audit), and to recommend measures and remedies to address shortcomings in these processes. Chapter 5 provides the main conclusions: 1) although Tajikistan has enjoyed high economic growth and substantial external assistance, increasing uncertainties about the global environment and the Russian growth outlook put Tajikistan's growth prospects at high risk, and the fiscal space will be very tight; 2) Tajikistan needs to address both equity and sector allocation efficiency issues to better mobilize resources in support of national priorities; 3) analysis of the public investment management system suggests that lack of a unified methodological framework, fragmentation, and poor institutional links discourage efficient use of limited domestic resources and attraction of external financing; and 4) the proposed reforms need to be sequenced to take into account implementation capacity and expected benefits. This note provides detailed recommendations to the Government regarding public investment management. 2014-12-17T15:17:23Z 2014-12-17T15:17:23Z 2014-06 http://documents.worldbank.org/curated/en/2014/06/19766470/capital-expenditures-public-investment-management http://hdl.handle.net/10986/20750 English en_US Takijistan policy notes on public expenditures;policy note no. 6 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work :: Public Expenditure Review Europe and Central Asia Tajikistan
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic AUDIT
BUDGET
CAPITAL SPENDING
DOMESTIC RESOURCES
ECONOMIC GROWTH
EXTERNAL FINANCING
FISCAL POLICY
FRAGMENTATION
IMPLEMENTATION
PLANNING
PUBLIC INVESTMENT MANAGEMENT
spellingShingle AUDIT
BUDGET
CAPITAL SPENDING
DOMESTIC RESOURCES
ECONOMIC GROWTH
EXTERNAL FINANCING
FISCAL POLICY
FRAGMENTATION
IMPLEMENTATION
PLANNING
PUBLIC INVESTMENT MANAGEMENT
World Bank
Tajikistan : Capital Expenditures and Public Investment Management
geographic_facet Europe and Central Asia
Tajikistan
relation Takijistan policy notes on public expenditures;policy note no. 6
description This policy note is part of the World Bank's Programmatic Public Expenditure Review (PER) work program for FY2012-2014. The PER consists of a series of fiscal policy notes, which aim at providing the Government of Tajikistan with recommendations to strengthen budgetary processes and analysis. This policy note, the sixth in the series continues the fiscal policy dialogue conducted in the previous notes. It is structured as follows. Chapter 2 sets a macro-fiscal context for the analysis with a particular focus on fiscal policy challenges. Chapter 3 analyzes the composition and trends in capital expenditures to identify issues and offer solutions for improving efficiency of capital spending. Chapter 4 reviews a public investment management process in Tajikistan to identify weaknesses in the capital budgeting cycle (planning, budgeting, implementation, and audit), and to recommend measures and remedies to address shortcomings in these processes. Chapter 5 provides the main conclusions: 1) although Tajikistan has enjoyed high economic growth and substantial external assistance, increasing uncertainties about the global environment and the Russian growth outlook put Tajikistan's growth prospects at high risk, and the fiscal space will be very tight; 2) Tajikistan needs to address both equity and sector allocation efficiency issues to better mobilize resources in support of national priorities; 3) analysis of the public investment management system suggests that lack of a unified methodological framework, fragmentation, and poor institutional links discourage efficient use of limited domestic resources and attraction of external financing; and 4) the proposed reforms need to be sequenced to take into account implementation capacity and expected benefits. This note provides detailed recommendations to the Government regarding public investment management.
format Economic & Sector Work :: Public Expenditure Review
author World Bank
author_facet World Bank
author_sort World Bank
title Tajikistan : Capital Expenditures and Public Investment Management
title_short Tajikistan : Capital Expenditures and Public Investment Management
title_full Tajikistan : Capital Expenditures and Public Investment Management
title_fullStr Tajikistan : Capital Expenditures and Public Investment Management
title_full_unstemmed Tajikistan : Capital Expenditures and Public Investment Management
title_sort tajikistan : capital expenditures and public investment management
publisher Washington, DC
publishDate 2014
url http://documents.worldbank.org/curated/en/2014/06/19766470/capital-expenditures-public-investment-management
http://hdl.handle.net/10986/20750
_version_ 1764445926699565056

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