Saint Kitts and Nevis - OECS Fiscal Issues : Policies to Achieve Fiscal Sustainability and Improve Efficiency and Equity of Public Expenditures

Despite high levels of per capita incomes and good social service provision, poverty remains a persistent problem in St. Kitts and Nevis. To improve competitiveness, restore rapid economic growth, and ensure its medium-term sustainability in the context of the currency union, the main challenges to the St. Kitts and Nevis government are to (a) tighten fiscal policy, notably through expenditure cuts; (b) increase the efficiency of public investments and public service delivery; (c) strengthen regulation and efficiency of public utilities and sea/air transport; and (d) promote education and skills development to prepare the population, notably the poor, to take advantage of new opportunities in the global environment. The report is organized as follows: Chapter 1 discusses fiscal sustainability in St. Kitts and Nevis and presents options for fiscal consolidation; Chapter 2 discusses the role of the business cycle in the design of fiscal policy by reviewing the cyclical components of the fiscal accounts; Chapter 3 discusses the budget management system in place and its effect on budgetary outcomes; Chapter 4 examines the Public Sector Investment Program; Chapter 5 discusses public sector employment and compensation; Chapters 6 and 7 examine public expenditures and outcomes in the education and health sectors; and Chapter 8, the final chapter, discusses social protection programs.

Bibliographic Details

Main Author:	World Bank
Format:	Public Expenditure Review biblioteca
Language:	English en_US
Published:	Washington, DC 2003-12-29
Subjects:	BORROWING, BUDGET BALANCES, BUDGET MANAGEMENT SYSTEM, BUSINESS CYCLE, BUSINESS CYCLES, CAPITAL BUDGET, CAPITAL EXPENDITURE, CAPITAL EXPENDITURES, CAPITAL SPENDING, CAPITAL STOCK, CENTRAL BANK, CENTRAL GOVERNMENT FISCAL, COMPETITIVENESS, CONTINGENT LIABILITIES, CYCLICAL EFFECTS, DEBT MANAGEMENT, DEBT RATIOS, DEBT SERVICE, DEPOSIT ACCOUNTS, DOMESTIC BORROWING, ECONOMIC COOPERATION, ECONOMIC GROWTH, ECONOMIC SHOCKS, ECONOMIC SLOWDOWN, ECONOMIC STRUCTURE, EXPENDITURE CUTS, EXPENDITURE GROWTH, EXTERNAL SHOCKS, EXTREME POVERTY, FINANCIAL MANAGEMENT, FISCAL ACCOUNTS, FISCAL ADJUSTMENT, FISCAL BALANCE, FISCAL CONSOLIDATION, FISCAL CONVERGENCE, FISCAL CONVERGENCE CRITERIA, FISCAL DEFICIT, FISCAL DEFICITS, FISCAL FRAMEWORK, FISCAL GAP, FISCAL INFORMATION, FISCAL ISSUES, FISCAL MANAGEMENT, FISCAL OPERATIONS, FISCAL PERFORMANCE, FISCAL POLICIES, FISCAL POLICY, FISCAL REFORM, FISCAL RESPONSIBILITY, FISCAL RULE, FISCAL RULES, FISCAL SURPLUS, FISCAL SUSTAINABILITY, FIXED EXCHANGE RATE, GDP, GDP PER CAPITA, GOVERNMENT ASSETS, GOVERNMENT BUDGET, GOVERNMENT DEBT, GOVERNMENT DEFICIT, GOVERNMENT EXPENDITURE, GOVERNMENT EXPENDITURE COMPOSITION, GOVERNMENT REVENUE, GOVERNMENT SECURITIES, GROSS DOMESTIC PRODUCT, GROWTH POTENTIAL, GROWTH RATE, GROWTH RATES, HEALTH SPENDING, HOUSING, HUMAN CAPITAL, INCREASE IN EXPENDITURES, INFLATION, INFLATION RATE, INTERNATIONAL MONETARY FUND, MACROECONOMIC STABILITY, MONETARY POLICY, MONETARY UNION, MONOPOLIES, NATIONAL INCOME, OPEN ECONOMY, PER CAPITA INCOMES, PORTS, PRIMARY DEFICIT, PRIMARY EXPENDITURE, PRIMARY SURPLUS, PRIVATE SECTOR, PUBLIC, PUBLIC DEBT, PUBLIC ENTERPRISES, PUBLIC EXPENDITURE, PUBLIC EXPENDITURES, PUBLIC GOODS, PUBLIC INVESTMENTS, PUBLIC SECTOR, PUBLIC SECTOR COMPENSATION, PUBLIC SECTOR EMPLOYMENT, PUBLIC SECTOR REFORM, PUBLIC SERVICE, PUBLIC SERVICE DELIVERY, PUBLIC UTILITIES, PURCHASING POWER, REAL WAGES, REDUCTION IN TAX, REGULATORY FRAMEWORK, RESOURCE ALLOCATION, SAFETY NETS, SAVINGS, SECTOR INVESTMENT, SECTOR RESTRUCTURING, SOCIAL SECURITY, TAX, TAX ADMINISTRATION, TAX COLLECTION, TAX EXEMPTIONS, TAX POLICY, TAX REVENUE, TAX REVENUES, TAXATION, TREASURY, TREASURY BILLS,
Online Access:	http://documents.worldbank.org/curated/en/2003/12/6861614/saint-kitts-nevis-oecs-fiscal-issues-policies-achieve-fiscal-sustainability-improve-efficiency-equity-public-expenditures http://hdl.handle.net/10986/14578
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