Latvia - From Exuberance to Prudence : A Public Expenditure Review of Government Administration and the Social Sectors - Overview and Summary

This public expenditure review (PER) was conducted at the request of the Ministry of Finance (MoF) on behalf of the Government of the Republic of Latvia. The objective of the PER is to identify potential areas of further budget savings in public ad...

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Bibliographic Details
Main Author:	World Bank
Format:	Public Expenditure Review
Language:	English
Published:	World Bank 2012
Subjects:	ACCOUNTING ADMINISTRATIVE COSTS ADMINISTRATIVE EXPENSES ADMINISTRATIVE FUNCTIONS AMALGAMATION ANNUAL AVERAGE RATE AUTOMATIC STABILIZERS BASELINE SCENARIO BENEFICIARIES BUDGET ALLOCATIONS BUDGET BALANCE BUDGET DEFICIT BUDGET DEFICITS BUDGET INSTITUTIONS BUDGET PREPARATION BUDGET PROCESS BUDGET REDUCTIONS BUDGET SYSTEM CAPITAL EXPENDITURE CAPITAL FLIGHT CENTRAL BANK CENTRAL BUDGET CENTRAL CONTROLS CENTRAL GOVERNMENT CIVIL SERVANTS CIVIL SERVICE COMPETITIVE PROCUREMENT CONSUMPTION TAXES CORPORATE INCOME TAX CORPORATE PROFITS COST RECOVERY COST-BENEFIT ANALYSIS COST-RECOVERY CREDIT GROWTH CURRENCY CYCLICAL SWINGS DEBT DIVISION OF RESPONSIBILITIES DOMESTIC DEMAND ECONOMIC CONDITIONS ECONOMIC DOWNTURN ECONOMIC GROWTH ECONOMIES OF SCALE EDUCATION BUDGET EDUCATION POLICY EDUCATION PROGRAMS EFFICIENCY GAINS ELECTRICITY EVASION EXCHANGE RATE EXCHANGE RESERVES EXCISE TAXES EXPENDITURE CUTS EXPENDITURE POLICIES EXPENDITURES EXTERNAL BORROWING FINANCIAL CRISIS FINANCIAL INTERMEDIATION FINANCIAL MARKETS FISCAL ACCOUNTS FISCAL ADJUSTMENT FISCAL BALANCE FISCAL CONSEQUENCES FISCAL CONSOLIDATION FISCAL COST FISCAL DEFICIT FISCAL DEFICITS FISCAL IMBALANCES FISCAL POLICY FISCAL POSITION FISCAL RESPONSIBILITY FISCAL SAVINGS FISCAL STANCE FISCAL SUSTAINABILITY FISCAL TARGETS FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES GOVERNMENT BUDGET GOVERNMENT DEFICIT GOVERNMENT EMPLOYMENT GOVERNMENT EXPENDITURE GOVERNMENT FINANCES GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROWTH RATE HEALTH CARE HEALTH OUTCOMES HEALTH PROBLEMS HEALTH SECTOR HEALTH SERVICES HEALTH SPENDING HOSPITAL SERVICES HOUSING HUMAN DEVELOPMENT INFLATION INTEREST PAYMENTS INTEREST RATE INTEREST RATES LABOR TAXES LOCAL FINANCING LOCAL GOVERNMENT BUDGETS LOCAL GOVERNMENT SPENDING LOCAL GOVERNMENTS LOTTERY MACROECONOMIC FRAMEWORK MACROECONOMIC MANAGEMENT MARKET FAILURES MARKET PRICES MEDICAL SERVICES MEDICAL TREATMENT MINISTRY OF CULTURE MINISTRY OF FINANCE MUNICIPAL GOVERNMENT MUNICIPAL GOVERNMENTS MUNICIPAL HOSPITALS MUNICIPAL LEVEL MUNICIPALITIES NATIONAL GOVERNMENT NATURAL RESOURCES NET LENDING NET SPENDING OPERATIONAL COSTS PAYROLL TAX PERSONAL INCOME PERSONAL INCOME TAX PERSONAL INCOME TAXES PERVERSE INCENTIVES PRIVATE INSURANCE PRIVATE SECTOR PROVISION OF SERVICES PUBLIC PUBLIC ADMINISTRATION PUBLIC DEBT PUBLIC EMPLOYEES PUBLIC EMPLOYMENT PUBLIC EXPENDITURE PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCE MANAGEMENT PUBLIC FINANCES PUBLIC FINANCIAL MANAGEMENT PUBLIC GOODS PUBLIC HEALTH PUBLIC PENSION PUBLIC PRIVATE PARTNERSHIPS PUBLIC PROCUREMENT PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR EMPLOYMENT PUBLIC SECTOR SPECIALIST PUBLIC SERVICE PUBLIC SERVICES PUBLIC SPENDING PUBLIC TRANSPORT QUALITY OF LIFE REAL ESTATE TAX RESIDENTIAL REAL ESTATE RESOURCE MANAGEMENT RETIREMENT INCOME REVENUE GROWTH REVENUE POLICY REVENUE SHARING ROADS SECTOR PROGRAMS SERVICE DELIVERY SERVICE DELIVERY FUNCTIONS SERVICE LEVELS SERVICE PROVISION SMALL MUNICIPALITIES SOCIAL ASSISTANCE SOCIAL BENEFITS SOCIAL EQUITY SOCIAL INSURANCE SOCIAL PROTECTION SOCIAL RETURN SOCIAL RETURNS SOCIAL SERVICES SOCIAL WELFARE SOCIAL WELFARE SPENDING STATE AUDIT OFFICE STATE BUDGET STATE OWNED ENTERPRISES STRUCTURAL DEFICITS STRUCTURAL EXPENDITURE STRUCTURAL REFORM STRUCTURAL REFORMS SUB-NATIONAL GOVERNMENTS SUSTAINABLE FISCAL ADJUSTMENT TAX ADMINISTRATION TAX BASE TAX BURDEN TAX CUTS TAX POLICY TAX RATE TAX RATES TAX REFORM TAX REVENUE TAX REVENUES TAX STRUCTURE TAX SYSTEM TAXATION TOTAL EXPENDITURE TOTAL SPENDING TOTAL TAX REVENUE TREASURY UNINTENDED CONSEQUENCES
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20111129233840 http://hdl.handle.net/10986/3008

Description
Summary:	This public expenditure review (PER) was conducted at the request of the Ministry of Finance (MoF) on behalf of the Government of the Republic of Latvia. The objective of the PER is to identify potential areas of further budget savings in public administration and the social sectors that could help restore fiscal balance, speed Latvia's recovery from the current crisis, and help it to meet the Maastricht Criteria by 2012 so it can adopt the Euro in 2014. The remainder of this volume is structured in the following way. Section two recounts the events and circumstances that set the Government's fiscal stance in the years prior to the crisis. Section three summarizes the principal emergency measures the Government took to cope during 2008 and 2009 as the crisis broke and led to Latvia's severe economic contraction. The purpose of these sections which draw liberally from material prepared by the financial authorities, the International Monetary Fund (IMF) and the European Central (EC) is to make the case for further fiscal adjustment plain. The report then summarizes the main messages and highlights the most important suggestions made in each of the longer, more detailed chapters of volume two of the review. Each section is followed by a matrix of the options presented for the Government to take into consideration. Given the important role that municipalities and republican cities play in the delivery of social services, the chapter three of volume two provides an in depth examination of local government finances and spending. Local authorities (municipalities and republican cities) play such a prominent role in the delivery of public services particularly social services that a close look at the character of their spending is critical.

Latvia - From Exuberance to Prudence : A Public Expenditure Review of Government Administration and the Social Sectors - Overview and Summary

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