Angola : Public Expenditure Management and Financial Accountability

One of the most salient features of Angola's public expenditure management and financial accountability framework is the coexistence of two parallel, but articulated, expenditure execution systems: the conventional system, coordinated by the National Treasury Directorate, and a non-conventional...

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Bibliographic Details
Main Author:	World Bank
Format:	Integrated Fiduciary Assessment
Language:	English en_US
Published:	Washington, DC 2012
Subjects:	ACCOUNT ACCOUNTING ACCOUNTING PROCEDURES ACCOUNTS AGGREGATE FISCAL DISCIPLINE AUDITING AUDITING STANDARDS BUDGET ACCOUNTING BUDGET CLASSIFICATION BUDGET EXECUTION BUDGET FORMULATION BUDGETARY PROCESS BUDGETING CASH MANAGEMENT DEBT DEBT MANAGEMENT DEBT SERVICE DEFICIT FINANCING ELECTRICITY FINANCIAL ACCOUNTABILITY FINANCIAL ANALYSIS FINANCIAL ASSETS FINANCIAL FLOWS FINANCIAL LEGISLATION FINANCIAL MANAGEMENT FINANCIAL MODEL FINANCIAL REPORTING FINANCIAL SUPPORT FINANCIAL SYSTEM FISCAL BALANCE FISCAL DEFICITS FISCAL DISCIPLINE FISCAL INFORMATION FOREIGN EXCHANGE GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT INFLATION INSURANCE INTEREST PAYMENTS INTERNAL AUDIT INVESTMENT MANAGEMENT NATIONAL BUDGET PRIVATE INVESTMENT PUBLIC ACCOUNTING PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCE MANAGEMENT PUBLIC INVESTMENT PUBLIC PROCUREMENT PUBLIC SECTOR PUBLIC SPENDING QUALITY ASSURANCE QUALITY ASSURANCE GROUP RESOURCE ALLOCATION REVENUE MANAGEMENT ROYALTIES TAX TAXATION TRANSPARENCY TREASURY
Online Access:	http://documents.worldbank.org/curated/en/2005/02/5653175/angola-public-expenditure-management-financial-accountability http://hdl.handle.net/10986/8514

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Summary:	One of the most salient features of Angola's public expenditure management and financial accountability framework is the coexistence of two parallel, but articulated, expenditure execution systems: the conventional system, coordinated by the National Treasury Directorate, and a non-conventional one centered around the national oil company Sonangol. A standard assessment of a country's fiscal framework would usually concentrate on the conventional system; the Public Expenditure Management and Financial Accountability Review (PEMFAR) goes one step further by assessing the workings of the non-conventional system as well as its articulation with the conventional one. The key finding is that the justification of the use of the non-conventional system is gone, and its maintenance is imposing heavy costs on the economy. The PEMFAR proposes accordingly the adoption of a two-pronged reform strategy aiming at: (i) strengthening the formal public financial management structures and tools; and (ii) phasing-out and eventually eliminating the non-conventional mechanisms.

Angola : Public Expenditure Management and Financial Accountability

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