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Latvia - Public expenditure review (English)

The purpose of this public expenditure review is 1) to present an overall diagnosis of public expenditure management, which the Government of Latvia can use in their policy reviews and budget oversight and management; and 2) to present a path for reforms in the short and medium term that will help the authorities set a track toward meeting some of the key long-term objectives already endorsed by the Government. The report is organized as follows: After the Introduction, Chapter 2 assesses recent macroeconomic developments and structural reforms in Latvia. The focus is on dynamic of growth, the fiscal stance, and the external accounts. Chapter 3 examines fiscal performance within an aggregate budget constraint. It shows that, in principle, Latvia has had an excellent record in fiscal restraint, as measured by the progressive reduction in the fiscal deficit since 1994. However, this achievement has required expenditure adjustments during the year, which has produced adverse effects on expenditure management. Chapter 4 reviews the budget process, highlighting weak planning, poor policy formulation, incremental budgeting and commitments, and unfunded policy proprosals that all lead to over-commitments and limit performance of programs. Chapter 5 assesses the public expenditure performance based on available evidence and examples from the sector analysis. Chapter 6 examines the rules for improving transparency and accountability. Lastly, Chapter 7 summarizes the report findings.

Details

  • Document Date

    2002/02/15

  • Document Type

    Public Expenditure Review

  • Report Number

    22392

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Latvia,

  • Region

    Europe and Central Asia,

  • Disclosure Date

    2010/07/01

  • Disclosure Status

    Disclosed

  • Doc Name

    Latvia - Public expenditure review

  • Keywords

    Law on Public Procurement;Public Expenditure Management;lack of transparency and accountability;access to international capital markets;central government expenditure;current account deficit;internal control procedure;foreign direct investment;external current account deficit;Programmatic Structural Adjustment Loan;average monthly salary;fixed exchange rate regime;corporate income tax rate;average length of stay;early stage of development;Translation & Interpretation;public expenditure management system;foreign direct portfolio investment;budget process;public sector reform;international financial institution;consumer price index;Public Administration Reform;Civil Service Reform;government wage bill;human resource management;prudent fiscal policy;tax rate cut;Local Government Finance;government budget balance;real exchange rate;macroeconomic and fiscal;central government budget;wages and salary;direct foreign investment;high poverty rate;dynamics of growth;large public enterprise;sale of new;export performance;budget preparation process;rapid credit expansion;competitive market economy;export market share;budget management process;process of review;audit of account;balance of power;short-term interest rate;accounting and reporting;estimate of expenditure;economies in transition;budget formulation process;european integration;medium-term macroeconomic framework;fiscal policy goals;water and sewerage;Solid Waste Management;medium-term fiscal plan;public expenditure analysis;composition of expenditure;medium-term expenditure framework;fiscal deficit;high tax burden;currency board arrangement;Country Assistance Strategies;world health organization;poverty headcount index;value added tax;health care provision;Access to Education;labor force participation;terms of education;guaranteed minimum income;lack of income;receipts from privatization;adult literacy rate;fight against corruption;efficiency in allocation;quality and relevance;high oil price;debt repayment obligation;efficiency and quality;share of export;process of adjustment;high infant mortality;public health system;balance of interest;availability of finance;country assistance strategy;stable exchange rate;competitive financial system;civil service wage;public sector agency;compulsory health insurance;state forest service;financial sector development;public sector operation;Public Expenditure Policy;weights and measure;rate of growth;Labor Market;Macroeconomic Stability;state capture;fiscal control;external demand;fiscal discipline;foreign investor;expenditure adjustment;sector analysis;macroeconomic development;fiscal restraint;cash rationing;aggregate budget;external account;fiscal stance;regulatory institution;income gap;fiscal management;basic requirement;Fiscal policies;hospital sector;Social Protection;industrial production;banking system;policy proposal;banking sector;Business Climate;outcome indicator;DEC Policy Review;autonomous agency;policy priority;central agencies;policy formulation;balanced budget;treasury coverage;budget analysis;Performance Budgeting;real income;fiscal adjustment;investment need;rural area;life expectancy;public demand;independent country;Trade Policies;sectoral reform;improving governance;net borrowing;foreign financing;Banking Supervision;combating corruption;unemployment rate;external reserve;driving force;reform effort;sovereign debt;Tax Exemption;baltic sea;high inflation;domestic policies;tax base;budget structure;Tax Administration;International Public;macroeconomic condition;program budget;procurement practice;government's commitment;small bank;international standard;severe declines;capital expenditure;minority share;macroeconomic perspective;privatization vouchers;public offer;privatization strategy;medium-term program;political parties;social indicator;energy transit;geographic position;business interest;political party;social insurance;put pressure;aging population;government deficit;performance criteria;government spent

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Citation

Latvia - Public expenditure review (English). Public expenditure review (PER) Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/354251468090563415/Latvia-Public-expenditure-review