Improving Public Expenditure Efficiency for Growth and Poverty Reduction : A Public Expenditure Review for the Republic of Moldova

World Bank

Improving Public Expenditure Efficiency for Growth and Poverty Reduction : A Public Expenditure Review for the Republic of Moldova

2007

World Bank

The Government of Moldova's Economic Growth and Poverty Reduction Strategy Paper (EGPRSP) lays out an ambitious plan for sustaining growth and poverty reduction and reshaping the government to meet the needs of a market economy. The public expenditures envisaged under this ambitious plan, however, vastly exceed the domestic resources available to the Government. Additional foreign budgetary support may help alleviate some of that resource constraint. Recognizing that the share of tax revenues and expenditures to GDP in Moldova already greatly exceed comparable international levels, generating additional domestic tax resources risks crowding out the private sector and undermining growth prospects. This suggests that in order to finance higher order public expenditures priorities, the Government needs to create fiscal space from within the existing resource envelope. This will require inter and intra-sectoral reallocation of expenditures and an increase in the efficiency of public spending rather than increasing the relative size of government.

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accounting agricultural sector civil service decentralization economic growth economic recovery electricity exchange rate external debt health care health insurance human capital income inflation institutional development poverty reduction private investment private sector public administration public debt public expenditure public finance public goods public health public institutions public investment public sector public services resource allocation roads rural areas rural poverty safety social insurance social protection social safety nets taxation transport uncertainty

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Washington, DC

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Article; Financial support; Investment climate; Economic decline; Expenditure area; Budget management; Primary health care; Financial crisis; Medium term expenditure framework; Public wage; Health expenditures; Medium term; Public sector employees; Public spending; Public workers; Private saving; Deficit financing; Tax revenues; National economy; Poverty rate; Reducing poverty; Expenditure growth; Private sector investment; Policy perspective; Public expenditure efficiency; Macroeconomic framework; Income levels; Road; Public sector wage; Public employment; Fiscal adjustment; Transition process; Public capital; Domestic tax; State budget; Size of government; Strategic priorities; Poverty gap; Efficiency gains; Poor households; Growth performance; Moral hazard; Borrowing; Public consumption; Public financial management; Road maintenance; Social spending; Domestic investment; Road sector; Total spending; Growth prospects; Net savings; State assets; Debt management; Beneficiaries; Health sector; Fiscal retrenchment; Transport costs; Reform efforts; Road users; Expenditure plan; Cost-benefit analysis; Revenue sources; Railway lines; Financial balance; Macroeconomic policies; Social expenditures; Fiscal deficit; Public finances; Budget preparation; Strategic allocation; Fiscal sustainability; Reform strategy; Public infrastructure; Capital spending; Transparency; Economic classification; Sector activity; Financial management; Road network; Programs; Transport resources; Fiscal accounts; Investment budget; Vulnerable groups; Empirical evidence; Government revenues; Total expenditures; Revenue mobilization; Health care system; Public; Government expenditures; Interest payments; Fiscal balance; Negative impact; Public sector wages; Medium term expenditure; Local governments; Poverty rates; Increased spending; Budget preparation process; Expenditure forecast; Transport sector; Government spending; Market economy; Public resources; Government consumption; Fiscal policy; Tax burden; Social benefits; Civil service pay; Social assistance; Unfunded liabilities; Gas prices; Institutional reforms; Public administration reform; Policy interventions; Railway; Economic stability; Government revenue; Budget allocation; Income poverty; Tax policy; Poverty reduction strategy; Public expenditures; Fiscal envelope; Public sector productivity; Economic downturns; Government expenditure; Public sector wage bill; Public expenditure management; Reform program; Transport network; Fiscal deficits; Exchange rate policy; Capital expenditures; Public expenditure policy; Education expenditures; Investment expenditures; Public expenditure review; Fiscal performance; Tax base; Road funds; Policy stance; Public investment spending; Debt sustainability; Budgetary institutions; Efficiency of resource use; Fiscal savings; Pension fund; Sectoral reallocation

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http://hdl.handle.net/10986/8035http://creativecommons.org/licenses/by/3.0/World BankCC BY 3.0 Unported

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Improving Public Expenditure Efficiency for Growth and Poverty Reduction : A Public Expenditure Review for the Republic of Moldova

2007

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