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Global Budgeting Trends & Economic Response Strategies

Explore budget practices, performance budgeting, aid, and capital project budgeting in response to the Global Economic Slowdown. Learn about reforms, challenges, and key strategies for effective financial management.

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Global Budgeting Trends & Economic Response Strategies

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Presentation Transcript

  1. 2009 Annual Seminar Wrap Up

  2. Session Themes • Budget practices and reform priorities • Performance budgeting • Fiscal responses to the Global Economic Slowdown • Aid on Budget • Budgeting for large capital projects

  3. Budget practices and reform priorities • Take stock of budget practices and procedures • Degree of difference between countries apparent • Key issues highlighted by survey • Transparency and off-budget spending • Budget execution and audit procedures • Aid management • Although high country variation in circumstances break-away sessions demonstrated commonality of concerns and nature of reforms • Move towards performance orientation, but challenges of making it effective • Discipline in budgeting • Challenges of ensuring that reforms are country-appropriate

  4. Performance budgeting • Many countries moving towards programme-based/performance oriented budgeting • Countries customise approaches to suit their needs • Many different approaches, but shared challenges • Defining appropriate programmes and indicators • Managing performance information • Using performance information effectively • Ownership and acceptance of reform • Budgeting according to programmes and with a performance orientation takes a long time to implement

  5. Fiscal responses to economic slowdown • Common lessons and interventions: • Save some when times are good • Don’t take steps that will be regretted • Take steps to support the most vulnerable • Sustain – and increase -- capital spending • Use labour-intensive methods • Start diversifying the economy • Enhance long-term competitiveness • Eg. Quality of spending • Regulatory reform to lower cost • Improve efficiency of revenue collection

  6. Aid on Budget • Rwanda reforms and CABRI’s response to Use of Country Systems • Key thoughts • Complex area of reform involving many stakeholders and issues • As in budget reforms aid management reforms are not one-size fits all • Progress will be at country level and needs to be country appropriate, inclusive and specific • At country level progress is likely to be step by step, donor by donor, modality by modality, phase by phase • Aim and underlying principles of CABRI work are aid-effectiveness, aid transparency, aid accountability • Recipient country ownership and lead in designing interfaces between aid management and PFM important

  7. Budgeting for Capital Projects • Importance of systematic, comprehensive, integrated and capacitated system for managing project cycle from cradle to grave • Cut projects as early as possible in the cycle • Feasibility study • Beware of technical and political aspects to managing capital investments • Careful analysis and weighting of conditionalities for countries • Understanding China interest and negotiating • Budget implication for the planning and execution of projects (timely, comprehensive information)

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