Kyrgyz Republic Public Expenditure Review Policy Notes : Public Investment Management

Weaknesses in the public investment management (PIM) system may limit the gains from higher public sector investments in the Kyrgyz Republic. Capital spending has averaged 6.4 percent of GDP since 2010, up from 4.6 percent of GDP between 2005 and 2...

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Bibliographic Details
Main Author:	World Bank
Format:	Public Expenditure Review
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	ACCOUNTABILITY ARRANGEMENTS ACCOUNTABILITY FOR PERFORMANCE ADMINISTRATIVE CULTURE ADMINISTRATIVE FRAMEWORK AGGREGATE BUDGET AGGREGATE EXPENDITURE ALLOCATION ANNUAL BUDGET APPROPRIATIONS ASSET MANAGEMENT AUDITORS BANK POLICY BENEFICIARIES BIDS BUDGET CIRCULAR BUDGET CODE BUDGET COMMISSION BUDGET DECISION BUDGET DEPARTMENT BUDGET DISCIPLINE BUDGET EXPENDITURE BUDGET FRAMEWORK BUDGET LAW BUDGET MANAGEMENT BUDGET ORGANIZATIONS BUDGET PLANNING BUDGET POLICY BUDGET PREPARATION BUDGET PREPARATION CALENDAR BUDGET PREPARATION PROCESS BUDGET PROCESS BUDGET PROPOSAL BUDGET SUBMISSIONS BUDGET SYSTEM BUDGET SYSTEMS BUDGETING CAPACITY BUILDING CAPACITY CONSTRAINTS CAPITAL BUDGET CAPITAL BUDGETING CAPITAL EXPENDITURE CAPITAL EXPENDITURES CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITAL SPENDING CASH FLOW CASH PLANNING CASH RATIONING CENTRAL AGENCIES CENTRAL BANK CHECKS CIVIL SERVANTS COMPETITIVE BIDDING COST EFFECTIVENESS COST ESTIMATES COST OF CAPITAL COST-BENEFIT ANALYSIS COST-EFFECTIVENESS COUNTERPART FUNDING CREDIBILITY CURRENCY DATA ENTRY DECISION-MAKERS DECISION-MAKING DEMAND FOR SERVICES DEVELOPMENT BANK DISBURSEMENT DOMESTIC CAPITAL DOMESTIC FUNDS DOMESTIC INVESTMENT DONOR ASSISTANCE DONOR COORDINATION ECONOMIES OF SCALE EVALUATION CAN EVALUATION OF PROJECTS EX POST ASSESSMENT EX-POST EVALUATION EXCHANGE RATE EXPENDITURE EXPENDITURE CEILING EXPENDITURE MANAGEMENT EXPENDITURE PLANS EXPENDITURES EXTERNAL AUDIT FINANCE MINISTRY FINANCIAL ACCOUNTABILITY FINANCIAL CONTROL FINANCIAL MANAGEMENT FINANCIAL PERFORMANCE FINANCIAL PLAN FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SUSTAINABILITY FISCAL CONSTRAINT FISCAL DISCIPLINE FISCAL REALITIES FLOW OF INFORMATION GOVERNMENT INTERVENTION GOVERNMENT POLICY GOVERNMENT PRIORITIES GOVERNMENT REGULATION HUMAN RESOURCES INDEPENDENT ASSESSMENT INFORMATION FLOWS INFORMATION SYSTEM INFRASTRUCTURE INVESTMENT INFRASTRUCTURE PROJECTS INTERGOVERNMENTAL TRANSFERS INTERNAL AUDIT INTERNATIONAL DEVELOPMENT INVESTMENT BUDGET INVESTMENT BUDGETS INVESTMENT CLIMATE INVESTMENT DECISIONS INVESTMENT FINANCING INVESTMENT MANAGEMENT INVESTMENT NEEDS INVESTMENT POLICY INVESTMENT PORTFOLIO INVESTMENT PRIORITIES INVESTMENT PROJECTS INVESTMENT SPENDING LEGAL FRAMEWORK LEGAL TRADITION LOAN LOCAL BUDGETS LOCAL GOVERNMENT LONG-TERM RESOURCE MACROECONOMIC FRAMEWORK MEDIUM-TERM DEVELOPMENT MEDIUM-TERM EXPENDITURE MEDIUM-TERM PERSPECTIVE MICRO-MANAGEMENT MINISTERIAL DEPARTMENTS MINISTRY OF ECONOMY MINISTRY OF FINANCE NATIONAL AUDIT NATIONAL GOVERNMENTS NATIONAL PRIORITIES NATIONAL STRATEGY PAYMENT DELAYS PERFORMANCE AUDITING PERFORMANCE INDICATORS PERFORMANCE MANAGEMENT PERFORMANCE MONITORING PERFORMANCE MONITORING SYSTEM POTENTIAL INVESTMENT POVERTY REDUCTION PRIVATE INVESTMENT PROCUREMENT PROCESS PROGRAM BUDGETING PROGRAM EFFECTIVENESS PUBLIC ADMINISTRATION PUBLIC ENTITIES PUBLIC EXPENDITURE PUBLIC EXPENDITURE REVIEW PUBLIC FINANCIAL MANAGEMENT PUBLIC INVESTMENT PUBLIC INVESTMENT PROGRAM PUBLIC INVESTMENT SPENDING PUBLIC INVESTMENTS PUBLIC MANAGEMENT PUBLIC MONEY PUBLIC PRIVATE PARTNERSHIPS PUBLIC PROCUREMENT PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR SPECIALIST PUBLIC SERVICE PUBLIC SERVICE DELIVERY QUALITY ASSURANCE QUALITY CONTROL QUANTITATIVE INDICATORS REALLOCATIONS REFORM EFFORTS REGULATORY FRAMEWORK RESERVES RESOURCE AVAILABILITY RETURN SECTOR POLICY SERVICE DELIVERY SHARE OF INVESTMENT STATE AGENCY STATE BANK STATE BUDGET STATE OWNED ENTERPRISES STRATEGIC PLANS SUPREME AUDIT INSTITUTION TOTAL EXPENDITURE TOTAL EXPENDITURES TRANSPARENCY TREASURY TREASURY SYSTEM TURNOVER UNCERTAINTY
Online Access:	http://documents.worldbank.org/curated/en/2014/05/19717539/kyrgyz-republic-public-expenditure-review-policy-notes-public-investment-management http://hdl.handle.net/10986/19305

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Summary:	Weaknesses in the public investment management (PIM) system may limit the gains from higher public sector investments in the Kyrgyz Republic. Capital spending has averaged 6.4 percent of GDP since 2010, up from 4.6 percent of GDP between 2005 and 2009, with significant investment in the energy sector and roads. Still, it remains unclear to what extent these investment decisions reflect the country's and sector priorities. Few projects, with the exception of donor-financed projects are subject to rigorous appraisal and there is no systematic procedure in place to monitor implementation progress. As a result, projects are often delayed or stalled and cost over-runs are frequent. Donor-financed projects, which comprise the bulk of public investment, are subject to relatively more rigorous project cycle management; however, they too face some of the same weaknesses. The rest of the note is structured as follows: section two provides a diagnosis of the public investment portfolio, including the structure of expenditures, the quality of the data, and a quantitative assessment of the efficacy and effectiveness of the public investment portfolio. The assessment builds on previous work on public investment in the Kyrgyz Republic, in particular the Public Investment Diagnostic undertaken in 2012 under the Capacity Building in Economic Management (CBEM) project. Section three reviews the institutional and administrative framework of PIM in Kyrgyz Republic. This draws largely from the draft Investment Diagnostic Report prepared in December 2012 using the eight key 'must-have' features of a well-functioning public investments framework proposed in Rajaram et.al. (2011). Finally, section four includes a summary of the findings and detailed recommendations on improving PIM.

Kyrgyz Republic Public Expenditure Review Policy Notes : Public Investment Management

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