Reforms under Fiscal Stress : A Policy Note on the Priorities for Fiscal and Budget Reform in Nepal

This note, first of the several on fiscal management and policy option notes planned, provides a concise assessment of the achievements to date of the ongoing reforms to budget management in Nepal and concludes with some guidance on the key focus areas of fiscal policy and expenditure management over the near and medium term. It is a selective assessment that looks at major aspects of the policy and budget process with a view to identifying areas for strategic focus, rather than a detailed rendering of the reforms. The note highlights the fiscal challenges that are assuming increasing prominence and which must be addressed by policy decisions and medium term reforms. While recognizing the uniqueness of Nepal's initial conditions, capacities and current security related challenges, the note takes account of international experience in implementing such reforms. The note starts with the economic and political background. The second section reviews fiscal trends and outlines issues to be considered by a fiscal strategy. The third section discusses institutional issues to strengthen the budget process.

Bibliographic Details

Main Authors:	Bajracharya, Roshan Darshan, Biletska, Nataliya, Rajaram, Anand
Language:	English en_US
Published:	World Bank, Washington, DC 2012
Subjects:	ACCOUNTABILITY, ADVERSE CONSEQUENCES, AGGREGATE FISCAL, AGGREGATE FISCAL DISCIPLINE, AGGREGATE REVENUE, AGGREGATE SPENDING, ALLOCATION OF RESOURCES, ANNUAL BUDGETARY PROCESS, ANNUAL PLANS, APPROPRIATION, BANKS, BENEFITS OF INVESTMENTS, BUDGET ACTIVITIES, BUDGET ALLOCATIONS, BUDGET CONSTRAINT, BUDGET CONSTRAINTS, BUDGET COVERAGE, BUDGET DISCIPLINE, BUDGET DISCUSSION, BUDGET EXECUTION, BUDGET EXPENDITURE, BUDGET FORMULATION, BUDGET FORMULATION PROCESS, BUDGET FRAMEWORK, BUDGET IMPLEMENTATION, BUDGET MANAGEMENT, BUDGET NEGOTIATIONS, BUDGET PATHOLOGIES, BUDGET PREPARATION, BUDGET PREPARATION PROCESS, BUDGET PROCESS, BUDGET PROJECTIONS, BUDGET REFORM, BUDGET REFORMS, BUDGET RESOURCES, BUDGET SUPPORT, BUDGET SYSTEM, BUDGETARY OUTCOMES, BUDGETARY REFORM, CAPACITY CONSTRAINTS, CAPITAL BUDGET, CAPITAL EXPENDITURE, CASH BUDGET, CASH FLOW, CASH FLOWS, CASH MANAGEMENT, CENTRAL AGENCIES, CENTRAL BANK, CENTRAL GOVERNMENT, CIVIL SERVICE, CORRUPTION, COST INFORMATION, COUNTERPART FUNDING, COUNTERPART FUNDS, CREDIBILITY, CURRENT DEBT, DEBT, DEBT LEVELS, DEBT SERVICING, DECENTRALIZATION, DECISION-MAKING, DEFICIT FINANCING, DISBURSEMENT, DISBURSEMENTS, DOMESTIC BORROWING, DOMESTIC REVENUE, DONOR ASSISTANCE, DONOR FINANCING, DONOR FUND, DONOR FUNDING, DONOR FUNDS, DONOR RESOURCES, DONOR SUPPORT, ECONOMIC CRISIS, ECONOMIC GROWTH, ECONOMIC RECOVERY, ECONOMIC SHOCKS, EFFICIENCY GAINS, EFFICIENCY OF PUBLIC SPENDING, EFFICIENCY OF RESOURCE USE, EXPENDITURE, EXPENDITURE MANAGEMENT, EXPENDITURE OUTCOMES, EXPENDITURE RATIONALIZATION, EXTERNAL AID, EXTERNAL ASSISTANCE, EXTERNAL FINANCING, FINANCIAL CIRCUMSTANCES, FINANCIAL CONSTRAINTS, FINANCIAL INFORMATION, FINANCIAL INSTITUTIONS, FINANCIAL SECTOR, FINANCIAL SUPPORT, FINANCING SHORTFALLS, FISCAL ADJUSTMENT, FISCAL BALANCE, FISCAL CONSEQUENCES, FISCAL DEFICIT, FISCAL DEFICITS, FISCAL DISCIPLINE, FISCAL FRAMEWORK, FISCAL LIMITS, FISCAL MANAGEMENT, FISCAL POLICY, FISCAL PRESSURES, FISCAL RISKS, FISCAL SAVINGS, FISCAL STABILITY, FISCAL STRATEGY, FOREIGN FINANCING, GOVERNMENT CAPACITY, GOVERNMENT EXPENDITURE, GOVERNMENT PERFORMANCE, GOVERNMENT POLICY, GOVERNMENT REVENUE, GOVERNMENT SPENDING, HUMAN CAPITAL, HUMAN CAPITAL DEVELOPMENT, HUMAN DEVELOPMENT, IMMUNIZATION, INCOME GROWTH, INDEBTED, INDEBTED POOR COUNTRY, INFRASTRUCTURE SECTOR, INSTITUTIONAL CAPACITY, INSTITUTIONAL DEVELOPMENT, INTERNATIONAL FINANCIAL INSTITUTIONS, INVESTMENT PROJECTS, JUDGMENT, KEY CHALLENGE, LEGAL FRAMEWORK, LEGAL FRAMEWORKS, MACROECONOMIC FRAMEWORK, MANAGEMENT OF ASSETS, MEDIUM TERM EXPENDITURE, MEDIUM TERM EXPENDITURE FRAMEWORK, MEDIUM TERM FISCAL STRATEGY, MEDIUM-TERM PLANNING, MINISTRY OF FINANCE, NATIONAL PLANNING, OPERATIONAL EFFICIENCY, OPPORTUNISTIC BEHAVIOR, PERFORMANCE BUDGETING, PERFORMANCE INFORMATION, POLICY DECISIONS, POLICY DESIGN, POLICY FORMULATION, POLITICAL UNCERTAINTY, POVERTY REDUCTION, POVERTY REDUCTION STRATEGY, PRIVATE SECTOR, PROGRAMS, PUBLIC DEBT, PUBLIC ENTERPRISES, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE MANAGEMENT, PUBLIC FINANCE, PUBLIC INFRASTRUCTURE, PUBLIC INVESTMENT, PUBLIC INVESTMENTS, PUBLIC POLICY, PUBLIC RESOURCES, PUBLIC SECTOR, PUBLIC SECTOR REFORM, PUBLIC SERVICE, PUBLIC SERVICES, RECURRENT EXPENDITURES, REFORM ACTIONS, RESOURCE ALLOCATION, RESOURCE ALLOCATION DECISIONS, RESOURCE AVAILABILITY, RESOURCE FLOWS, RESOURCE IMPLICATIONS, RESOURCE LEVELS, RESOURCE MANAGEMENT, RETURNS, REVENUE GROWTH, REVOLVING FUNDS, ROAD CONSTRUCTION, RURAL ACCESS, SECTOR BUDGET, SECTOR MINISTRIES, SECTORAL ALLOCATION, SECTORAL CEILING, SERVICE DELIVERY, SERVICE RECIPIENTS, SOCIAL INDICATORS, SOLVENCY, STRATEGIC POLICY, STRATEGIC PRIORITIES, TAX, TAX EFFORT, TECHNICAL ASSISTANCE, TOTAL EXPENDITURE, TRANSPARENCY, TREASURY, TREASURY SYSTEM, UNCERTAINTY, UNREALISTIC BUDGETS, WITHDRAWAL, WITHDRAWAL OF FUNDS,
Online Access:	http://documents.worldbank.org/curated/en/2012/01/16509813/reforms-under-fiscal-stress-policy-note-priorities-fiscal-budget-reform-nepal https://hdl.handle.net/10986/12645
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