Romania : Public Expenditure and Institutional Review : Background Papers

World Bank

Romania : Public Expenditure and Institutional Review : Background Papers

2010

World Bank

The government has embarked upon a comprehensive and difficult medium term program for reforming the public sector aimed at rebalancing the relation between revenue and spending and enhancing the efficiency and efficacy of service delivery. The Romanian economy has been hit hard by the global economic downturn. Latest estimates suggest that real Gross Domestic Product (GDP) may have contracted by around 7 percent in 2009, before modestly recovering in 2010. The severe decline in output has had a significant adverse effect on consolidated budget revenues, which fell substantially below the initial target in 2009. To prevent a further deterioration of the already large fiscal deficit, the shortfall in revenue has led to adjustments in spending. Consolidation of expenditure needs however continue in order to put public finances on a sustainable trajectory over the medium term. The report is structured in two volumes. The first volume synthesizes the menu of options suggested to reduce the short term gap between budget expenditure and revenues. It also highlights the key challenges and recommendations for improving efficiency and efficacy of spending in the sectors investigated. Volume two consists of the background analyses, with individual chapters dedicated to the fiscal framework; public pay; pensions; education; health; and agriculture. The report makes the case that, in the current crisis environment and consistent with experience worldwide, the gap between expenditure and revenue should be done primarily by reducing the level of current spending.

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accountability allocation capacity building central government civil service decentralization economic growth fiscal policies gross domestic product health care health insurance health services human resources income tax inflation information technology liquidity poverty reduction private sector public administration public debt public expenditure public finance public health public institutions public investment public sector public services resource management social insurance social protection social security uncertainty

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Financial support; Budget management; Deficits; Medium term expenditure framework; Reform agenda; Current account deficit; Aggregate demand; Health insurance fund; Health workers; Budget resources; Public pension system; Formal economy; Public sector employees; Public spending; Financial management information system; Public employees; Public agencies; Measurable indicators; Cash accounting; Public financial management system; National bank; Budget allocations; Aggregate spending; Financial statements; Central agencies; Chart of accounts; Macroeconomic framework; Cash basis; Old-age; Medium-term expenditure framework; Foreign currency; Public sector spending; Public employment; Fiscal adjustment; Macroeconomic stability; Performance measurement; Financial sector; State budget; Treasury; Cash management; Public sector accounting; Tax administration; Decentralization of education; Fiscal stance; Expenditures; Gross fixed capital formation; Strategic policy; Savings ratio; Local budgets; Public pension; Taxpayers; Health units; Financial envelopes; Public financial management; Resource allocations; Health ministry; Budget projections; Financial sustainability; Central bank; External audit; Guarantee fund; Social security administration; Total spending; Appropriations; Financial management information; Fiscal impact; Beneficiaries; Budget law; Reform efforts; Fiscal rules; Accounting standards; Accountability framework; Revenue sources; Fiscal deficit; Internal audit; Local public finance; Personnel expenditure; Public finances; Equity issues; Budget deficit; Expenditure adjustments; Fiscal sustainability; Reform strategy; Performance audits; Tax revenue; Capital spending; Fiscal framework; Transparency; Capacity building program; Personnel expenditures; Fiscal management; Macroeconomic situation; Public pensions; Economic classification; Medium-term expenditure; Social security contributions; Financial management; Treasury system; Programs; Human development; Private pension; Program budgeting; Strategic plans; National agency; Budget surplus; Tax collection; Private consumption; Budget balance; Labor taxes; Public service; Internal audit capacity; Internal audit function; Government revenues; Military personnel; Pension reform; Government budget; Fiscal imbalances; General revenues; Interest payments; Fiscal balance; Master plan; Reform process; Budget execution; Annual work program; Local governments; Medium term expenditure; Total public sector; Annual rate; Financial plan; Pension systems; Government spending; Public resources; Reallocations; Fiscal policy; Land parcel; Capital taxes; National priorities; Financial audits; Financial stability; Social benefits; Social assistance; Internal control; Public sector employment; Budgetary impact; Budget expenditure; Budgeting process; Expenditure cuts; Service delivery; Safety nets; Total public spending; Government revenue; Appropriation; Annual budget; Performance evaluation; Government expenditure; Fiscal revenue; Budget support; Finance ministry; Civil servants; Social contributions; Monetary fund; Debt source; Stated objectives; Budget proposal; Sub-national governments; Pension scheme; Pension fund; Organizational structures

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http://hdl.handle.net/10986/2896http://creativecommons.org/licenses/by/3.0/World BankCreative Commons Attribution CC BY 3.0

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Romania : Public Expenditure and Institutional Review : Background Papers

2010

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