Democratic Republic of São Tomé and Príncipe : Country Integrated Fiduciary Assessment, Volume 2. Public Expenditure Review

This Integrated Fiduciary Assessment is the first of its kind for Sao Tome and Principe. It combines the analysis and policy recommendations from a public expenditure review (PER), a country financial accountability assessment (CFAA), and a country...

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Bibliographic Details
Main Author:	World Bank
Format:	Integrated Fiduciary Assessment
Language:	English en_US
Published:	Washington, DC 2012
Subjects:	ACCESS TO BANK ACCOUNTING ADMINISTRATIVE CLASSIFICATION ALLOCATION ARREARS BANK CREDIT BANKING SYSTEM BASELINE SCENARIO BROAD MONEY BUDGET ALLOCATIONS BUDGET EXECUTION BUDGET EXPENDITURE BUDGET MANAGEMENT BUDGET YEAR BUDGETING CAPITAL EXPENDITURE CAPITAL EXPENDITURES CAPITAL FLOWS CAPITAL INFLOW CAPITAL INVESTMENT CAPITAL PROJECTS CASH BASIS CASH BUDGETING CDS CENTRAL BANK CENTRAL GOVERNMENT CIVIL SERVANTS COMMERCIAL BANKS CONSTANT SHARE CONSUMPTION GOODS CORPORATE TAX RATE COUNTRY PROCUREMENT CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT TRANSACTIONS DEBT OUTSTANDING DEBT RELIEF DEBT SERVICE DEPOSIT DEPOSITS DEVELOPMENT BANK DOMESTIC DEMAND DOMESTIC EXPENDITURE DOMESTIC MARKET DOMESTIC SAVINGS DONOR FINANCING DONOR FUNDS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC STABILITY EDUCATION EXPENDITURES EXCESS LIQUIDITY EXCHANGE RATE EXOGENOUS SHOCKS EXPENDITURE EXPENDITURE CATEGORIES EXPENDITURE OBJECTIVES EXPENDITURE POLICIES EXPENDITURE POLICY EXPENDITURES EXPORTER EXTERNAL AID EXTERNAL DEBT EXTERNAL DEFICIT EXTERNAL FINANCING EXTERNAL GRANTS EXTERNAL SHOCKS FIDUCIARY ASSESSMENT FINANCIAL ACCOUNTABILITY FINANCIAL CONSTRAINTS FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL PROGRAMMING FINANCIAL STATUS FISCAL ADJUSTMENTS FISCAL BALANCE FISCAL BEHAVIOR FISCAL CONSTRAINT FISCAL DEFICIT FISCAL DISCIPLINE FISCAL POLICIES FISCAL POLICY FISCAL REVENUE FISCAL STANCE FISCAL SUSTAINABILITY FLEXIBLE EXCHANGE RATE FOREIGN CURRENCY FOREIGN DEBT FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE TRANSACTIONS FOREIGN FINANCING FOREIGN GRANTS FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN RESERVES GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT EXPENDITURE GOVERNMENT FINANCE GOVERNMENT POLICIES GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT GROWTH RATE HEALTH EXPENDITURES HEALTH SECTOR HEALTH WORKERS HOLDING IMPLICIT SUBSIDIES IMPORT DUTIES IMPORT TARIFF INCOME TAX INCOME TAX REFORM INFLATION INFLATION RATE INFORMATION CONSTRAINTS INFORMATION SYSTEMS INSTRUMENT INSURANCE INTEREST PAYMENT INTEREST PAYMENTS INTERNATIONAL DEVELOPMENT INTERNATIONAL STANDARDS INVESTING INVESTMENT BUDGET INVESTMENT OPPORTUNITIES INVESTMENT PROJECTS ISSUANCE JUSTICE SYSTEM LAND REFORM LEGAL INSTRUMENTS LOAN LOCAL CURRENCY LOCAL GOVERNMENT MACROECONOMIC FRAMEWORK MACROECONOMIC INDICATORS MACROECONOMIC VARIABLES MONETARY FUND MONETARY INSTRUMENTS MONETARY POLICIES MONETARY POLICY MONETARY SECTOR NATIONAL ACCOUNTS NATIONAL INCOME NATIONAL SAVINGS NATURAL RESOURCES NET PRESENT VALUE OUTPUT RATIO PERFORMANCE CONTRACTS PERMANENT INCOME HYPOTHESIS PLEDGES POVERTY REDUCTION POVERTY REDUCTION STRATEGY PRIVATE INVESTMENT PRIVATE SAVINGS PRIVATE SECTOR PROCUREMENT SYSTEMS PUBLIC ADMINISTRATION PUBLIC BUDGET PUBLIC CONSUMPTION PUBLIC DEFICIT PUBLIC EXPENDITURE PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC INVESTMENT PUBLIC INVESTMENT PROGRAM PUBLIC INVESTMENTS PUBLIC REVENUE PUBLIC SAVINGS PUBLIC SPENDING REAL EXCHANGE RATE REAL INTEREST REAL INTEREST RATES RECURRENT EXPENDITURE REFORM STRATEGIES REGULATORY FRAMEWORK RESERVE RESERVE REQUIREMENT RESERVE REQUIREMENTS RESERVES RETURN REVENUE INCREASES REVENUE SOURCES SECTOR MANAGERS SHAREHOLDER SOCIAL EXPENDITURE SOCIAL EXPENDITURES STATE BUDGET STRUCTURAL DEFICIT STRUCTURAL REFORMS SUSTAINABILITY ANALYSIS TAX TAX BREAKS TAX CODE TAX COLLECTION TAX COLLECTIONS TAX EXEMPTIONS TAX RATES TAX REVENUES TAX STRUCTURE TAX SYSTEM TELECOMMUNICATIONS TOTAL DEBT TOTAL EXPENDITURE TOTAL EXPENDITURES TOTAL SPENDING TRADE LIBERALIZATION TRANSACTION TRANSACTION COSTS TRANSPARENCY TREASURY VALUATION
Online Access:	http://documents.worldbank.org/curated/en/2007/06/9823625/democratic-republic-sao-tome-principe-country-integrated-fiduciary-assessment-vol-2-4-public-expenditure-review http://hdl.handle.net/10986/7730

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Summary:	This Integrated Fiduciary Assessment is the first of its kind for Sao Tome and Principe. It combines the analysis and policy recommendations from a public expenditure review (PER), a country financial accountability assessment (CFAA), and a country procurement assessment review (CPAR). The goal of the report is to identify the major challenges facing the country in the prepetroleum era (the next three to five years) in public finance management (including public enterprises) as it attempts to implement its National Poverty Reduction Strategy (NPRS) with a tight resource envelope. This executive summary presents recent economic developments and fiscal sustainability analysis that takes into account petroleum and no-petroleum scenarios, with corresponding analysis on which of the Millennium Development Goals (MDGs) are reachable. The summary reports on revenue and expenditure performance since 2000-01, issues related to the implementation of the public investment program (PIP) and its coordination with the NPRS, and the budget process, including findings from the Health PER, which highlights a lack of allocative efficiency. The summary reports on the financial fragility of state-owned enterprises (SOEs) and the possible fiscal consequences for the central budget, especially regarding the implicit subsidies and tax breaks to (and the hypothetical tariff increases of) the electricity and water company. The summary of reports on the status of the public finance management system (budget preparation, execution, control, governance, and human resources) and the reform process that may address many of the concerns it rises. Finally, the summary presents the findings related to the procurement process, including the legislative and regulatory framework, institutional framework and management capacity, procurement operations and market practices, and integrity and transparency of the system.

Democratic Republic of São Tomé and Príncipe : Country Integrated Fiduciary Assessment, Volume 2. Public Expenditure Review

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