Government Expenditure Arrears Accumulation During The Covid 19 Period
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Government Expenditure Arrears Accumulation During The Covid 19 Period
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Author : Eric Lacey
language : en
Publisher:
Release Date :
Government Expenditure Arrears Accumulation During The Covid 19 Period written by Eric Lacey and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Economic shocks and crises typically lead to a sharp increase in government expenditure arrears with corrosive effects on the economy. In order to assess the evolution of government expenditure arrears during the Coronavirus (COVID-19) crisis, the World Bank collected information on public expenditure arrears in client countries in June 2020. The results of this initial data collection exercise are reported in an MTI Insight Note (An Overview of the Potential Impact of the Coronavirus (COVID-19) Crisis on the Accumulation of government Expenditure Arrears), which also discusses the definition of government expenditure arrears, measurement and reporting issues, the main drivers and economic consequences of arrears accumulation, and options for preventing and managing arrears accumulation. This note presents an update based on information available by February 2021.
Improving Fiscal Transparency To Raise Government Efficiency And Reduce Corruption Vulnerabilities In Central Eastern And Southeastern Europe
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Author : Mr.Bernardin Akitoby
language : en
Publisher: International Monetary Fund
Release Date : 2020-05-11
Improving Fiscal Transparency To Raise Government Efficiency And Reduce Corruption Vulnerabilities In Central Eastern And Southeastern Europe written by Mr.Bernardin Akitoby and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-11 with Business & Economics categories.
This departmental paper investigates how countries in Central, Eastern, and Southeastern Europe (CESEE) can improve fiscal transparency, thereby raising government efficiency and reducing corruption vulnerabilities.
Singapore 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Singapore
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-07-16
Singapore 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Singapore written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-16 with Business & Economics categories.
Singapore entered the COVID-19 pandemic with sizable policy space and robust economic policy frameworks, yet facing longer-term challenges. The economy has been severely impacted by the pandemic, but a bold, comprehensive, and coordinated policy package has helped cushion the economic fallout. Following a record contraction in the first half of 2020, activity has rebounded, and growth is projected to strengthen to 6 percent in 2021, underpinned by a recovery in domestic demand and a positive contribution from net exports. The uncertainty surrounding the outlook is larger than usual.
Managing Systemic Banking Crises
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Author : Ms.Marina Moretti
language : en
Publisher: International Monetary Fund
Release Date : 2020-02-11
Managing Systemic Banking Crises written by Ms.Marina Moretti and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-11 with Business & Economics categories.
This paper updates the IMF’s work on general principles, strategies, and techniques from an operational perspective in preparing for and managing systemic banking crises in light of the experiences and challenges faced during and since the global financial crisis. It summarizes IMF advice concerning these areas from staff of the IMF Monetary and Capital Markets Department (MCM), drawing on Executive Board Papers, IMF staff publications, and country documents (including program documents and technical assistance reports). Unless stated otherwise, the guidance is generally applicable across the IMF membership.
Namibia
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-04-12
Namibia written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-04-12 with Business & Economics categories.
The COVID-19 pandemic has sharply deteriorated Namibia’s short-term macroeconomic outlook, giving rise to urgent balance of payments (BOP) and fiscal financing needs. After an initial outbreak peaked in August, a second wave hit in late 2020. Containment measures have negatively impacted domestic consumption and economic activity, weighing on tax revenues collection. Furthermore, worsening global conditions have hindered mining production and exports, tourism receipts, and investment inflows. The economy is expected to have sharply contracted by 7.2 percent in 2020, and the recovery is set to remain subdued in 2021.
Senegal
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-01-28
Senegal written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-28 with Social Science categories.
This Selected Issues paper estimates the macroeconomic impact of these discoveries and discusses potential fiscal frameworks for managing related revenues. Pre-production investment (2019–2021) will lead to an increase in the current account deficit; however, this will be followed by a boost to exports as hydrocarbon production comes online (2022 onward). Discoveries are important but will not lead to a major transformation of the economy, with hydrocarbons expected to make up not more than 5 percent of GDP. Fiscal revenues would average about 1.5 percent of GDP over a 25-year period and about 3 percent of GDP when production peaks. Given the relatively small gains in revenue, IMF staff recommends a fiscal framework that allows for an initial drawdown of government resources to finance large up-front investment needs, followed by an appropriate target level of the non-resource primary balance which is to serve as a medium-term fiscal anchor. Issues related to managing the volatility of resource revenues are also discussed.
Economic And Fiscal Outlook
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Author : Office for Budget Responsibility
language : en
Publisher: The Stationery Office
Release Date : 2010-11-29
Economic And Fiscal Outlook written by Office for Budget Responsibility and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-29 with Business & Economics categories.
The Office for Budget Responsibility was established to provide independent and authoritative analysis of the UK's public finances. Part of this role includes producing the official economic and fiscal forecasts. This report sets out forecasts for the period to 2015-16. The report also assesses whether the Government is on course to meet the medium-term fiscal objectives and presents preliminary observations on the long-run sustainability of the public finances. Since the June forecast, the UK economy has recovered more strongly than initially expected. The GDP growth was greater than expected in both the 2nd and 3rd quarters, but that unemployment levels have risen to levels that the June forecast did not anticipate until the middle of 2012. In general the world economy has also grown more strongly. CPI inflation has remained slightly higher than expected in June, whilst public finances have performed as forecast. The interest rates on UK debt are lower than in June. The OBR forecasts that the economy will continue to recover from the recession, but at a slower pace than the recoveries of the 1970s, 1980s and 1990s. The publication is divided into 5 chapters with two annexes.
How To Manage Value Added Tax Refunds
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Author : Mario Pessoa
language : en
Publisher: International Monetary Fund
Release Date : 2021-05-10
How To Manage Value Added Tax Refunds written by Mario Pessoa and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-10 with Business & Economics categories.
The value-added tax (VAT) has the potential to generate significant government revenue. Despite its intrinsic self-enforcement capacity, many tax administrations find it challenging to refund excess input credits, which is critical to a well-functioning VAT system. Improperly functioning VAT refund practices can have profound implications for fiscal policy and management, including inaccurate deficit measurement, spending overruns, poor budget credibility, impaired treasury operations, and arrears accumulation.This note addresses the following issues: (1) What are VAT refunds and why should they be managed properly? (2) What practices should be put in place (in tax policy, tax administration, budget and treasury management, debt, and fiscal statistics) to help manage key aspects of VAT refunds? For a refund mechanism to be credible, the tax administration must ensure that it is equipped with the strategies, processes, and abilities needed to identify VAT refund fraud. It must also be prepared to act quickly to combat such fraud/schemes.
Modeling Economic Growth In Contemporary Poland
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Author : Elżbieta Bukalska
language : en
Publisher: Emerald Group Publishing
Release Date : 2023-11-09
Modeling Economic Growth In Contemporary Poland written by Elżbieta Bukalska and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-11-09 with Business & Economics categories.
Trying to explain the sources of Poland’s economic success and decouple it from simple stylized facts on economic convergence anchored in the neoclassical growth models, the chapters show how the Polish economy rapidly moved away from the communist economic system, which had ended up in an economic collapse.
Barbados
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Author : International Monetary Fund. Western Hemisphere Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2020-06-08
Barbados written by International Monetary Fund. Western Hemisphere Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-08 with Health & Fitness categories.
This paper focuses on Barbados’ Third Review Under the Extended Arrangement, Requests for Augmentation of Access, and Modification of Performance Criteria. Barbados continues its strong implementation of the comprehensive Economic Recovery and Transformation plan aimed at restoring fiscal and debt sustainability and increasing reserves and growth. The ongoing global coronavirus pandemic poses a major challenge for the economy, which is heavily dependent on tourism, and is expected to have a large impact on the balance of payments and the fiscal accounts. State-owned enterprise (SOE) reform remains an essential element of Barbados’ economic program. In order to secure fiscal space for investment in physical and human capital, transfers to SOEs need to decline after the global coronavirus pandemic with a combination of stronger oversight of SOEs, cost reduction, revenue enhancement, and mergers and divestment. Progress in restoring fiscal sustainability must be safeguarded by adopting a new central bank law that limits its financing of the Government to short-term advances and strengthens the central bank’s mandate, autonomy, and decision-making structures. A strong recovery after the global pandemic will depend on accelerating structural reforms. There is much room for improvement in the business climate. Establishing a credit registry and credit collateral registry, in addition to broadening the types of eligible collateral, would facilitate access to credit.