Central African Republic Public Expenditure Review : Creating Fiscal Space to Transition Out of Fragility Through Growth and Poverty Reduction
This public expenditure review (PER) aims to assist the government in its efforts to achieve a transition out of fragility through growth and development. Higher and sustained per capita real gross domestic product (GDP) growth to raise the income...
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| Language: | English en_US |
| Published: |
Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2012/06/17406024/central-african-republic-public-expenditure-review-creating-fiscal-space-transition-out-fragility-through-growth-poverty-reduction http://hdl.handle.net/10986/13239 |
| Summary: | This public expenditure review (PER)
aims to assist the government in its efforts to achieve a
transition out of fragility through growth and development.
Higher and sustained per capita real gross domestic product
(GDP) growth to raise the income of the population and
create employment is needed to reduce poverty and lower the
risk of reversion to conflict. Significant productive
investments in human capital and in infrastructure are
needed to help Central African Republic (CAR) foster and
sustain higher economic growth. Thus, the government needs
to create fiscal space in the budget to finance its reform
program and productive investments in health, education, and
infrastructure to spur growth. While the burden of
investment should be on the private sector the government
has a key role to play in facilitating private investment
and in providing the basic infrastructure that the private
sector needs as well as public services to the poor. The PER
advances the notion that public spending at the appropriate
level, allocated to productive areas and used efficiently,
will be essential to promote rapid and broad-based economic
growth in CAR. More specifically, the PER examines the
central question of how to create and use fiscal space in
the government budget to support long-term economic growth
and poverty reduction in CAR while maintaining macro-fiscal stability. |
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