Romania - Building Institutions for Public Expenditure Management : Reforms, Efficiency and Equity - A Public Expenditure and Institutions Review

This Public Expenditure and Institutions Review (PEIR) was undertaken at a critical juncture of public expenditure management in Romania. Following three years of economic decline, the economy began growing in 2000, reaching a real GDP growth rate of 5.3 percent in 2001. The Government thus defined an economic reform strategy, to move forward the banking system and enterprise privatization, contain fiscal deficit, and reduce central government expenditures, with further fiscal decentralization. The PEIR focuses on five areas: (i) Structure of central state budget; (ii) Fiscal decentralization; (iii) Social expenditure; (iv) Pension reform; and (vi) Military and defense sector budget. The PEIR presents a policy framework for enhancing the effectiveness of processing, and allocating public expenditures, to improve Treasury accounting, curbe budget ceilings by accumulating payment arrears, and, by subjecting foreign financed public investments to full budgetary scrutiny. By emphasizing accountability in the management of extra-budgetary funds, the PEIR places also a need for firmer financial foundations for health, and pension funds, as well as on reconsideration of the present education finance mechanisms. Finally, it takes a broader look towards the need to define more stable local government expenditure assignments, that clearly define local government's own functions, from delegated functions.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2002-08
Subjects:	PUBLIC EXPENDITURES, PUBLIC EXPENDITURES FOR HEALTH, PUBLIC EXPENDITURES FOR EDUCATION, EDUCATIONAL FINANCING, HEALTH CARE FINANCING, PENSION FUNDS, FINANCIAL MANAGEMENT, BUDGETARY PROCESS, PAYMENTS ARREARS, BUDGETARY RESOURCES, FISCAL DEFICITS, ENTERPRISE DEVELOPMENT, PRIVATIZATION, DECENTRALIZATION, SOCIAL ADMINISTRATION, CENTRAL GOVERNMENT, PENSION REFORM, DEFENSE-RELATED OPERATIONS, FOREIGN INVESTMENTS, INSTITUTIONAL FRAMEWORK ACCOUNTABILITY, ACCOUNTING, ACCOUNTING STANDARDS, ADMINISTRATIVE CAPACITY, AGGREGATE FISCAL DISCIPLINE, ALLOCATING PUBLIC RESOURCES, ALLOCATION OF RESOURCES, AUTHORITY, BALANCE SHEETS, BANK PRIVATIZATION, BUDGET DEFICIT, BUDGET EVALUATION, BUDGET EXECUTION, BUDGET FORMULATION, BUDGET MANAGEMENT, BUDGET PROCESS, BUDGETARY FUNDS, CASH TRANSFERS, COLLECTION AGENCIES, CORRUPTION, COUNCILS, COURT SYSTEM, DEBT, DEBT SERVICE, DECENTRALIZATION PROCESS, DECENTRALIZATION REFORMS, DOMESTIC BORROWING, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC PERFORMANCE, ECONOMIC RECOVERY, ECONOMIC REFORM, ELECTRICITY, EMERGING MARKET ECONOMIES, EMPLOYMENT, EQUALIZATION, EQUILIBRIUM, EVASION, EXCHANGE RATE, EXECUTION, EXPENDITURE ASSIGNMENTS, EXPENDITURE RESPONSIBILITIES, FINANCIAL PERFORMANCE, FISCAL, FISCAL DECENTRALIZATION, FISCAL DEFICIT, FISCAL DISCIPLINE, FISCAL POLICY, FISCAL PRESSURES, FISCAL SUSTAINABILITY, FISCAL YEAR, GENERAL EQUILIBRIUM MODEL, GOVERNMENT BORROWING, GOVERNMENT BUDGETS, GOVERNMENT EXPENDITURES, GOVERNMENT GUARANTEES, GOVERNMENT LEVEL, GOVERNMENT OFFICIALS, GOVERNMENT REVENUES, GOVERNMENT'S REFORM PROGRAM, GROSS DOMESTIC PRODUCT, HEALTH EXPENDITURES, HEALTH SERVICES, IMPORTS, INCOME, INCOME TAXES, INDEXATION, INFLATION, INSTITUTIONAL FRAMEWORK, INSTITUTIONAL REFORMS, INSURANCE, INTEREST RATES, INVESTMENT EXPENDITURES, JUDICIARY, LABOR FORCE, LEGISLATION, LEVELS OF GOVERNMENT, LOCAL AUTHORITIES, LOCAL CAPITAL EXPENDITURES, LOCAL COUNCILS, LOCAL GOVERNMENT, LOCAL GOVERNMENT AGENCIES, LOCAL GOVERNMENT BUDGETS, LOCAL GOVERNMENT EXPENDITURES, LOCAL GOVERNMENTS, LOCAL TAXES, MACROECONOMIC STABILIZATION, MANDATES, MEMBERS OF PARLIAMENT, MINISTRY OF FINANCE, MUNICIPALITY, OIL, PAY AS YOU GO, PAYMENT ARREARS, PENSIONS, PRIVATE SECTOR, PRIVATE SECTOR INVESTMENT, PRODUCERS, PRODUCTIVITY, PROPERTY TAXES, PROVISIONS, PUBLIC ADMINISTRATION, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE MANAGEMENT, PUBLIC FINANCE, PUBLIC HEALTH, PUBLIC INVESTMENT, PUBLIC RESOURCES, PUBLIC SECTOR, PUBLIC SECTOR DEFICIT, PUBLIC SECTOR INVOLVEMENT, PUBLIC SERVICE, PUBLIC SERVICE DELIVERY, PUBLIC SERVICES, PUBLIC UTILITIES, REPRESENTATIVES, RESOURCE ALLOCATION, REVENUE SHARING, SAVINGS, SOCIAL ASSISTANCE, SOCIAL PROGRAMS, SOCIAL PROTECTION, SOCIAL SECURITY, SOCIAL SOLIDARITY, STATE BANKS, STATE BUDGET, STATE OWNED ENTERPRISES, STATE OWNERSHIP, STATE-OWNED ENTERPRISES, SUSTAINABLE GROWTH, TAX, TAX ARREARS, TAX COLLECTION, TAX EXEMPTIONS, TAX INCENTIVES, TAX OBLIGATIONS, TAX RATES, TAX REGULATIONS, TAX REVENUES, TRANSPORT, TREASURY, UNEMPLOYMENT, WAGES,
Online Access:	http://documents.worldbank.org/curated/en/2002/08/1994648/romania-building-institutions-public-expenditure-management-reforms-efficiency-equity-public-expenditure-institutions-review https://hdl.handle.net/10986/15371
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