The central objectives in restructuring public expenditures are to restore economic stability and growth with equity by the use of public expenditure as an effective and efficient policy instrument. The strategy for achieving these objectives include: (i) sharp expenditure reductions; (ii) significant reallocations to support priority sectors and programs; and (iii) strengthening management of public expenditure for effective implementation of the allocative decisions. This report considers it essential to establish a sound macro-economic framework in which both the short-term fiscal stabilization and long-term growth issues can be effectively addressed. In this regard, bringing inflation under control should be considered as a necessary condition for effective adjustment of expenditure composition. The report also considers it imperative for government to take actions on a number of fronts to ensure that the allocative decisions are effectively implemented, that the expenditure audits are enforced in order to effect expenditure control, and that it is essential to integrate donor counterpart funds in a general budgetary framework to ensure better budget performance.
Details
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Document Date
1992/12/01
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Document Type
Pre-2003 Economic or Sector Report
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Report Number
11420
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Volume No
2
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Total Volume(s)
2
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Country
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Region
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Disclosure Date
2010/06/12
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Disclosure Status
Disclosed
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Doc Name
Main report
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Keywords
public expenditure;budget process;higher rate of inflation;private sector investment activities;efficient use of resource;current account deficit;lack of integration;fiscal stabilization;budget submission;information flow;terms of trade;primary budget balance;types of expenditure;fiscal program;mineral revenue;counterpart fund;weak expenditure control;private saving rate;efficiency of expenditure;balance of payment;gross domestic investment;capital budget submissions;public investment program;target growth rate;savings and investment;debt service obligation;adequate financial resources;decline in revenue;domestic food prices;value added tax;high import duties;impact of inflation;public expenditure program;debt service payment;budget deficit reduction;money supply;domestic saving;donor agencies;economic sector;government expenditure;agriculture sector;departmental budget;Tax Reform;budget discussion;
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Citation
Zambia - Public expenditure review (Vol. 2) : Main report (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/530711468171244789/Main-report