Mozambique Public Expenditure Review : Addressing the Challenges of Today, Seizing the Opportunities of Tomorrow

Mozambique's economy has experienced strong and sustained growth since the end of the country s civil war in 1992. Over time, the sources of revenues are changing, bringing both opportunities and challenges for fiscal management. The governmen...

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Main Author:	World Bank
Format:	Public Expenditure Review
Language:	English en_US
Published:	Washington, DC 2015
Subjects:	EXPENDITURE REPRIORITIZATION EXTERNAL ECONOMIC SHOCKS FISCAL MANAGEMENT REFORMS FISCAL SUSTAINABILITY PRIORITY SECTORS RESOURCE ALLOCATION
Online Access:	http://documents.worldbank.org/curated/en/2014/09/23069780/mozambique-public-expenditure-review-addressing-challenges-today-seizing-opportunities-tomorrow http://hdl.handle.net/10986/21277

id	okr-10986-21277
recordtype	oai_dc
spelling	okr-10986-212772021-04-23T14:04:01Z Mozambique Public Expenditure Review : Addressing the Challenges of Today, Seizing the Opportunities of Tomorrow World Bank EXPENDITURE REPRIORITIZATION EXTERNAL ECONOMIC SHOCKS FISCAL MANAGEMENT REFORMS FISCAL SUSTAINABILITY PRIORITY SECTORS RESOURCE ALLOCATION Mozambique's economy has experienced strong and sustained growth since the end of the country s civil war in 1992. Over time, the sources of revenues are changing, bringing both opportunities and challenges for fiscal management. The government has loosened fiscal policy in the past few years, and the current fiscal stance does not appear sustainable. Public spending is projected at almost 42 percent of gross domestic product (GDP) in 2014, and the deficit after grants is expected to widen to over 9 percent of GDP. These fiscal consolidation efforts will require reprioritizing expenditures and increasing the efficiency of spending, to ensure sufficient resources are allocated to priority sectors. Looking ahead, substantial resource revenues expected toward the end of the decade present an unprecedented opportunity but this will need to be well managed. The 2001 and 2003 public expenditure reviews indicated that a number of financial management reforms are required, which the government successfully implemented. However, it is important to build on this progress to ensure that the government is sufficiently prepared to address the challenges ahead. Given external economic shocks and the possibility of weaker commodity prices, resource revenues can be delayed or reduced. Therefore, it will be important to adopt a prudent fiscal stance in the medium term to adequately prepare for the changes ahead. 2015-01-14T13:30:00Z 2015-01-14T13:30:00Z 2014-09 http://documents.worldbank.org/curated/en/2014/09/23069780/mozambique-public-expenditure-review-addressing-challenges-today-seizing-opportunities-tomorrow http://hdl.handle.net/10986/21277 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work :: Public Expenditure Review Economic & Sector Work Africa Mozambique
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	EXPENDITURE REPRIORITIZATION EXTERNAL ECONOMIC SHOCKS FISCAL MANAGEMENT REFORMS FISCAL SUSTAINABILITY PRIORITY SECTORS RESOURCE ALLOCATION
spellingShingle	EXPENDITURE REPRIORITIZATION EXTERNAL ECONOMIC SHOCKS FISCAL MANAGEMENT REFORMS FISCAL SUSTAINABILITY PRIORITY SECTORS RESOURCE ALLOCATION World Bank Mozambique Public Expenditure Review : Addressing the Challenges of Today, Seizing the Opportunities of Tomorrow
geographic_facet	Africa Mozambique
description	Mozambique's economy has experienced strong and sustained growth since the end of the country s civil war in 1992. Over time, the sources of revenues are changing, bringing both opportunities and challenges for fiscal management. The government has loosened fiscal policy in the past few years, and the current fiscal stance does not appear sustainable. Public spending is projected at almost 42 percent of gross domestic product (GDP) in 2014, and the deficit after grants is expected to widen to over 9 percent of GDP. These fiscal consolidation efforts will require reprioritizing expenditures and increasing the efficiency of spending, to ensure sufficient resources are allocated to priority sectors. Looking ahead, substantial resource revenues expected toward the end of the decade present an unprecedented opportunity but this will need to be well managed. The 2001 and 2003 public expenditure reviews indicated that a number of financial management reforms are required, which the government successfully implemented. However, it is important to build on this progress to ensure that the government is sufficiently prepared to address the challenges ahead. Given external economic shocks and the possibility of weaker commodity prices, resource revenues can be delayed or reduced. Therefore, it will be important to adopt a prudent fiscal stance in the medium term to adequately prepare for the changes ahead.
format	Economic & Sector Work :: Public Expenditure Review
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Mozambique Public Expenditure Review : Addressing the Challenges of Today, Seizing the Opportunities of Tomorrow
title_short	Mozambique Public Expenditure Review : Addressing the Challenges of Today, Seizing the Opportunities of Tomorrow
title_full	Mozambique Public Expenditure Review : Addressing the Challenges of Today, Seizing the Opportunities of Tomorrow
title_fullStr	Mozambique Public Expenditure Review : Addressing the Challenges of Today, Seizing the Opportunities of Tomorrow
title_full_unstemmed	Mozambique Public Expenditure Review : Addressing the Challenges of Today, Seizing the Opportunities of Tomorrow
title_sort	mozambique public expenditure review : addressing the challenges of today, seizing the opportunities of tomorrow
publisher	Washington, DC
publishDate	2015
url	http://documents.worldbank.org/curated/en/2014/09/23069780/mozambique-public-expenditure-review-addressing-challenges-today-seizing-opportunities-tomorrow http://hdl.handle.net/10986/21277
_version_	1764447806226956288

Mozambique Public Expenditure Review : Addressing the Challenges of Today, Seizing the Opportunities of Tomorrow

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