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North Macedonia Public Finance Review : Sowing the Seeds of a Sustainable Future (English)

This Public Finance Review (PFR) was carried out to assist the Government of the Republic of NorthMacedonia in finding ways to make its public finances more sustainable while also improving critical public services. Chapter 1 summarizes the country’s current fiscal condition, focusing on the roots of its fiscal challenges. Chapters 2 and 3 outline the bottlenecks to efficient public financial management (PFM) and the problems confronting social service delivery and financing at the local government level. Chapters 4 and 5 explore options to address and lessen fiscal risks and work toward fiscal consolidation. These chapters give special attention to improving the pension system — the single largest public finance expenditure and a source of acute fiscal vulnerability — and to expanding revenue collection, both of which will be pivotal to North Macedonia’s long-term fiscal sustainability, and to any successful strategy to reduce its fiscal deficit. Chapters 6, 7, and 8 suggest alternative ways that the government can deliver higher quality and more efficient social assistance, education, and health services. Finally, Chapter 9 reviews the state of agriculture, particularly the need to reallocate government expenditures to improve efficiency and output.

Details

  • Document Date

    2018/03/01

  • Document Type

    Correspondence

  • Report Number

    135704

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    North Macedonia,

  • Region

    Europe and Central Asia,

  • Disclosure Date

    2019/05/14

  • Disclosure Status

    Disclosed

  • Doc Name

    North Macedonia Public Finance Review : Sowing the Seeds of a Sustainable Future

  • Keywords

    Medium Term Budget Framework; effective tax rate on capital income; sustainable future; Integrated Financial Management Information System; capital output elasticity; corporate income tax rate; maternal and child health; general government expenditure; central government expenditure; Primary and Secondary Education; healthy life expectancy; treatment of capital gains; active labor market program; Technical and Vocational Education; universal access to primary; reduction in tax rates; personal income tax; social assistance spending; source of revenue; intergovernmental finance system; public finance; Public Services; consumer price index; long-term fiscal sustainability; foreign direct investment; pension system; fiscal risk; change in expenditure; social protection spending; public sector performance; standard vat rate; central government budget; accumulation of arrears; conditional cash transfer; hours of instruction; bed occupancy rate; secondary school network; local revenue autonomy; primary completion rate; public service delivery; intergovernmental fiscal relation; child mortality rate; Sustainable Economic Development; high productivity growth; economies of scale; local public service; compulsory general education; medium term financing; local government budget; comments and feedback; local property taxation; local government revenue; social security contribution; cervical cancer screening; medium-term fiscal strategy; Public Financial Management; labor force participation; central government debt; human development index; government assessment; severe political crisis; total factor productivity; excise tax rates; impact on poverty; local government spending; agricultural trade balance; high poverty rate; guaranteed minimum income; improvements in health; social protection system; intergovernmental transfer system; local revenue base; cooperation between municipalities; international bond market; quality of care; secondary completion rate; individual income tax; social protection expenditure; gross enrollment rate; quality of education; primary health care; agricultural value; vat revenue; international standard; block grant; capital spending; reform scenario; policy package; fiscal forecast; fiscal deficit; limited capacity; preferential treatment; food trade; fiscal consolidation; policy priority; budget cycle; student-teacher ratio; pension reform; demographic pressure; contribution rate; financing need; Fiscal Stimulus; debt sustainability; public debt; inefficient tax; excise duty; tax break; excise revenue; fiscal space; fiscal resource; macroeconomic projection; local spending; average pension; dependency ratio; factor income

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Citation

North Macedonia Public Finance Review : Sowing the Seeds of a Sustainable Future (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/159301557513724528/North-Macedonia-Public-Finance-Review-Sowing-the-Seeds-of-a-Sustainable-Future