Liberia Public Expenditure Review : Options for Fiscal Space Enlargement

Liberia Public Expenditure Review : Options for Fiscal Space Enlargement

Liberia's post-conflict reconstruction and rehabilitation has been successful. Peace, stability and security gradually returned and provided an enabling environment for the rebuilding of this war-torn country. Over the next five years (2013-20...

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Bibliographic Details
Main Author:	World Bank
Format:	Public Expenditure Review
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	ACCOUNTING AIR AIR TICKETS AIR TRANSPORT AIRPORT AIRPORT AUTHORITY AIRPORTS ALLOCATION BAGGAGE BALANCE OF PAYMENTS BALANCE SHEETS BASIC SOCIAL SERVICES BOTTLENECKS BUDGET BUDGET DOCUMENTS BUDGET EXECUTION BUDGET REPORT BUDGET SUPPORT BUDGET TRANSFERS BUDGETARY IMPACTS BUDGETS BUS CAPITAL BUDGET CAPITAL EXPENDITURE CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITAL SPENDING CAR CAR OWNERSHIP CARS CASH BALANCE CIVIL SERVANTS CIVIL SERVICE CIVIL SERVICE AGENCY COMMODITY PRICES COMPOSITION OF PUBLIC SPENDING COST EFFECTIVENESS COST RECOVERY COST-BENEFIT ANALYSIS CREDIT FACILITY DEBT DEBT MANAGEMENT DEBT RELIEF DEBT SUSTAINABILITY DIESEL DOMESTIC BORROWING DOMESTIC DEMAND DOMESTIC REVENUE DOMESTIC TAX DOMESTIC TRAVEL DONOR COORDINATION DRIVERS ECONOMIC CLASSIFICATION ECONOMIC DOWNTURN ECONOMIC GROWTH ECONOMIC STABILIZATION EDUCATION SERVICES EFFICIENCY OF EXPENDITURE EFFICIENCY OF PUBLIC SPENDING ENTITLEMENTS EXCHANGE RATE EXPENDITURE CUTS EXPENDITURE POLICIES EXPENDITURE POLICY EXPENDITURE PROGRAMS EXPENDITURES EXTERNAL BORROWING EXTERNAL DEBT EXTERNAL GRANTS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL MARKET FINANCIAL SECTOR FINANCIAL STATISTICS FISCAL BALANCE FISCAL DEFICIT FISCAL POLICY FISCAL SUSTAINABILITY FISCAL TRANSFERS FISCAL YEAR FLEET MANAGEMENT FLEETS FOREIGN BORROWING FOREIGN CURRENCY FOREIGN DEBT FOREIGN GRANTS FOREIGN RESERVES FUEL FUEL CONSUMPTION FUEL PRICES GASOLINE GOVERNMENT REVENUE GOVERNMENT REVENUES GRANTS GROSS DOMESTIC PRODUCT HEALTH WORKERS HIGH TRANSPORT INCOME DISTRIBUTION INCOME TAX INFLATION INFLATIONARY PRESSURES INFRASTRUCTURE INFRASTRUCTURE INVESTMENT INFRASTRUCTURE PROJECTS INFRASTRUCTURE SERVICES INITIATIVES INTEREST PAYMENTS INVESTMENTS MACRO INDICATORS MACROECONOMIC FRAMEWORK MACROECONOMIC INDICATORS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICIES MACROECONOMIC PROJECTIONS MACROECONOMIC SITUATION MACROECONOMIC STABILITY MARGINAL EFFECTS MEDIUM-TERM DEVELOPMENT MEDIUM-TERM EXPENDITURE MEDIUM-TERM EXPENDITURE FRAMEWORK MEMBER COUNTRIES MID-TERM REVIEW MINISTRY OF FINANCE MOBILITY MONETARY POLICY MULTILATERAL DONORS NATIONAL PRIORITIES NATURAL RESOURCES NET LENDING NET PRESENT VALUE ODOMETER OIL PRICES OPPORTUNITY COST OUTCOMES PENSIONERS PERFORMANCE BUDGET POLICE POLICIES POVERTY REDUCTION POVERTY REDUCTION STRATEGY PRICE CHANGES PRIORITIES OF GOVERNMENT PRIVATE CONSUMPTION PRIVATE SECTOR PROGRAMS PUBLIC ADMINISTRATION PUBLIC BORROWING PUBLIC DEBT PUBLIC EXPENDITURE PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCES PUBLIC FINANCIAL MANAGEMENT PUBLIC INFRASTRUCTURE PUBLIC INSTITUTIONS PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC PROCUREMENT PUBLIC RESOURCES PUBLIC SAFETY PUBLIC SCHOOLS PUBLIC SECTOR PUBLIC SECTOR DEBT PUBLIC SECTOR EMPLOYEES PUBLIC SECTOR INVESTMENT PUBLIC SERVICE PUBLIC VEHICLES PUBLIC WORKS QUALITY OF LIFE REALLOCATIONS REALLOCATIONS ACROSS SECTORS RECURRENT EXPENDITURE REFORM STRATEGY RESOURCE MANAGEMENT REVENUE GROWTH REVENUES ROADS SAFETY SANITATION SOCIAL EQUITY SOCIAL INSURANCE SOCIAL PROTECTION SOCIAL SECURITY SOCIAL SECURITY CONTRIBUTIONS STATE AGENCY SUBSIDIES SUBSIDY SUSTAINABILITY ANALYSIS TAX ADMINISTRATION TAX BURDEN TAX POLICY TAX RATES TAX REVENUE TAX REVENUES TAX SYSTEM TAXES TOTAL EXPENDITURE TOTAL EXPENDITURES TOTAL SPENDING TRAILS TRAINING TRANSIT TRANSIT AUTHORITY TRANSPARENCY TRANSPORT TRANSPORT COSTS TRANSPORT EXPENDITURE TRANSPORT SERVICES TRANSPORT SYSTEM TRAVEL TRAVEL COSTS TRAVEL TRAVEL TRAVELERS TREND VEHICLE VEHICLE COST VEHICLE FLEET VEHICLE TYPES VEHICLES WEALTH
Online Access:	http://documents.worldbank.org/curated/en/2013/05/18453783/liberia-public-expenditure-review-options-fiscal-space-enlargement http://hdl.handle.net/10986/16779

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Summary:	Liberia's post-conflict reconstruction and rehabilitation has been successful. Peace, stability and security gradually returned and provided an enabling environment for the rebuilding of this war-torn country. Over the next five years (2013-2017), the Bank will focus on building infrastructure (energy and transport), increasing youth employment opportunities, strengthening human development and sustaining peace and security. This note considers how to increase Liberia s fiscal space by examining four options: 1) improving the efficiency of public expenditure, 2) increasing external grants, 3) increasing domestic revenue, and 4) increasing borrowing (domestic and/or external). While any increase in fiscal space gained from the first two options will not impose a burden in terms of debt or tax on the economy, the latter two will impose such burdens. In its examination of public expenditure by economic classification, this note finds that fiscal space in Liberia can be created by further improving the technical efficiency of current expenditure (wages and salaries, goods and services and transfers to state owned enterprises). However, the size of the fiscal space gained from these measures is difficult to pinpoint.