Jamaica Public Financial Management Enhancement

Jamaica Public Financial Management Enhancement

Public sector modernization and public financial management reforms are important areas of focus for Jamaica, particularly because of the impact that fiscal and budget-management practices and policies have on growth. Although the Government of Jam...

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Bibliographic Details
Main Author: World Bank
Format: Report
Language:English
en_US
Published: Washington, DC 2015
Subjects:
ACTION PLAN
APPROPRIATIONS
APPROVAL PROCESS
ASSISTANCE ORGANIZATION
BACKBONE
BUDGET EXECUTION
BUDGET MANAGEMENT
BUDGET PROCESS
BUDGET REFORM
BUDGETING
BUSINESS PLAN
CAPACITY BUILDING
CAPITAL EXPENDITURES
CAPITAL PROJECTS
CONSOLIDATION
COPYRIGHT
CREDIBILITY
DECISION MAKING PROCESS
DONOR FUNDS
E-MAIL
EMPLOYEE
EXPENDITURE
EXPENDITURES
EXTERNAL FUNDING
FINANCIAL ACCOUNTABILITY
FINANCIAL ADMINISTRATION
FINANCIAL MANAGEMENT
FINANCIAL SYSTEMS
FISCAL CONSTRAINTS
FISCAL MANAGEMENT
FISCAL PERFORMANCE
FISCAL POLICY
FUNDING SOURCE
GOVERNMENT POLICY
GOVERNMENT SPENDING
INFORMATION FLOWS
INFORMATION SYSTEM
INSTITUTIONAL CAPACITY
INSTITUTIONAL SUPPORT
INSTRUMENT
INTERNAL CONTROLS
INTERNATIONAL BANK
INTERNATIONAL DEVELOPMENT
INVESTMENT ALLOCATIONS
INVESTMENT PORTFOLIO
INVESTMENT PROJECTS
INVESTMENT PROPOSALS
LICENSES
LOAN
LOCAL CAPACITIES
MANAGEMENT SYSTEM
MATERIAL
MDAS
MONETARY FUND
POLICY FRAMEWORK
PROCUREMENT
PUBLIC
PUBLIC ENTERPRISES
PUBLIC EXPENDITURE
PUBLIC FINANCES
PUBLIC INVESTMENT
PUBLIC INVESTMENTS
PUBLIC SECTOR
PUBLIC SECTOR REFORM
PUBLIC SPENDING
PUBLIC-PRIVATE PARTNERSHIP
PUBLIC-PRIVATE PARTNERSHIPS
QUERIES
RECURRENT EXPENDITURES
REGIONAL TECHNICAL ASSISTANCE
RESULT
RESULTS
SAVINGS
SUBSIDIARY
TARGETS
TECHNICAL ASSISTANCE
TECHNICAL SUPPORT
TELEPHONE
TRUST FUND
USER
WEB
Online Access:http://documents.worldbank.org/curated/en/2014/11/24381920/jamaica-public-financial-management-pfm-enhancement
http://hdl.handle.net/10986/21964
Description
Summary:Public sector modernization and public financial management reforms are important areas of focus for Jamaica, particularly because of the impact that fiscal and budget-management practices and policies have on growth. Although the Government of Jamaica (GOJ) has undertaken several initiatives during the past few years aimed at strengthening management of its public finances, several fundamental issues continue to affect its fiscal performance. Fiscal management in Jamaica has been guided by a set of rules that does not support strategic approaches necessary for addressing its existing challenges. Budget planning is fragmented, especially for capital expenditures. Systems for ensuring that public investment allocations are clearly prioritized and aligned with strategic development plans and programs are inadequate. The weak link between government priorities, planning, and budget contributed to inefficient monitoring of public spending. The recent PEFA Assessment conducted in late 2012 confirms these conclusions. Addressing these impediments is the basis for the support provided by the current program. Therefore, the interventions coupled with this project aimed to enhance public financial management (PFM) by supporting efforts to improve strategic budget processes and public investment management through the provision of policy advice, technical assistance, and knowledge generation and dissemination. By doing that, it was intended to alleviate some of the PFM-based constraints, distortions and factors limiting growth such as inefficient budgeting processes, insufficient control over public investment planning process, and weak links between government priorities, planning, and budget.

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