Download Public Expenditure Review of Armenia (World Bank Country by Lev M. Freinkman, P. Safarian PDF

By Lev M. Freinkman, P. Safarian

This, the 1st full-scale global financial institution Public Expenditure assessment for Armenia, stories the most economic tendencies in Armenia in the time of 1997-2001 and develops innovations with recognize to extra economic adjustment, expenditure prioritization, and funds consolidation. The research makes a speciality of the subsequent middle concerns: Sustainability of economic adjustment, economic transparency, expenditure priorities, and temporary expenditure administration given the prevailing economy-wide institutional constraints. This learn covers extra-budgetary money, in-kind exterior delivers, subsidies supplied via the state-owned businesses within the power and software sectors, and operation of the Social assurance Fund, in addition to commonplace budgetary spending. It indicates a medium-term motion plan to deal with pointed out weaknesses. area chapters evaluate overall healthiness, schooling, and social defense and coverage. The file additionally analyzes finances aid for middle public infrastructure, and Armenia's public funding software.

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It is estimated that after full repayment of these credits, NPV of external debt will decline from 29 to 27 percent of GDP. Overall, Armenia’s debt should remain manageable as export performance continues to improve. However, the World Bank does not envisage that Armenia will become creditworthy for IBRD lending during the next three years. It is important that external support in the next several years still be provided as grants or on a highly concessional basis. 26. Respectively, the ratio of total public debt service (including amortization) to export declined from 41 percent in 1997 and 49 in 1999 to 26 in 2001.

9). While the Government did push for an increase in the size of the budget as a share of GDP, this trend continued only up to 1999. The results for 2000–01 were disappointing. The budget outcome for 2001 was very close to the level of 1997—just above 20 percent of GDP. The use of the budget deviation index is a simple methodology for measuring overall budget predictability_whether the Budget Law gives an accurate estimate of final expenditures. The index expresses the sum of the absolute value of budget deviations by sector as a percentage of 22.

17. 5 somewhat overestimates the level of Government savings due to problems in the budget classification. Government lending in Armenia, which largely represents hidden subsidies, is traditionally excluded from the Current Expenditure part of the budget. See Chapter 2. 2 Note: a. Excluding budget transfers to the SIF. Source: IMF, MOFE. 5). The revenues increased through improved tax and customs administration, simplification of the tax structure and broadening the tax base. The general improvement in tax performance derived almost entirely from better collection of indirect taxes.

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