Description: Belarus Public Expenditure Review : Fiscal Reforms for a Sustainable Economic Recovery

Belarus Public Expenditure Review : Fiscal Reforms for a Sustainable Economic Recovery

Belarus faces significant fiscal challenges, stemming from the structural features of its economic model. As of mid-2011, under a severe exchange rate and balance of payments crisis, the Government needs to pursue a carefully sequenced strategy of...

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Bibliographic Details
Main Author:	World Bank
Language:	English
Published:	World Bank 2012
Subjects:	ACCOUNTABILITY OF PUBLIC SPENDING ACCOUNTING ADMINISTRATIVE CONTROLS ALLOCATION ALLOCATION OF CAPITAL ANNUAL COST AUTOMATIC STABILIZERS BALANCE OF PAYMENTS BALANCE OF PAYMENTS CRISIS BASELINE SCENARIO BENEFICIARIES BUDGET CONSTRAINTS BUDGET CREDIBILITY BUDGET DEFICIT BUDGET DEFICITS BUDGET DOES BUDGET EXECUTION BUDGET MANAGEMENT BUDGET POLICY BUDGET PROCESS BUDGET RESOURCES BUDGET STRUCTURE BUDGETARY EXPENDITURES CAPITAL EXPENDITURE CAPITAL EXPENDITURES CAPITAL MARKETS CASH BALANCES COMMERCIAL BANKS COMMERCIAL ENTERPRISE COMPOSITION OF EXPENDITURES CONTINGENT LIABILITIES CORPORATE INCOME TAX COST OF GOVERNMENT COST RECOVERY CREDIT POLICY CURRENCY DEVALUATION CYCLICAL POLICY DEBT DEBT SERVICE DOMESTIC DEMAND DOMESTIC MARKET ECONOMIC DOWNTURN ECONOMIC GROWTH ECONOMIC RECOVERY EXCHANGE RATE EXCHANGE RATE GUARANTEES EXCHANGE RATES EXCHANGE RESERVES EXPENDITURE CUTS EXPENDITURE GROWTH EXPENDITURE LEVEL EXPENDITURE PROGRAM EXPENDITURE PROGRAMS EXPENDITURE RATIONALIZATION EXTERNAL BALANCE EXTERNAL DEBT EXTERNAL FINANCING EXTERNAL IMBALANCES EXTRA BUDGETARY FUNDS FINANCE MINISTRY FINANCIAL ACCOUNTABILITY FINANCIAL CRISIS FINANCIAL STATISTICS FINANCIAL SUPPORT FINANCIAL SYSTEM FISCAL ACTIVITIES FISCAL AUSTERITY FISCAL BALANCE FISCAL CONSOLIDATION FISCAL COST FISCAL COSTS FISCAL DEFICIT FISCAL DISCIPLINE FISCAL FRAMEWORK FISCAL IMBALANCES FISCAL IMPACT FISCAL INFORMATION FISCAL OPERATIONS FISCAL POLICIES FISCAL POLICY FISCAL POSITION FISCAL PRESSURE FISCAL PRESSURES FISCAL REFORM FISCAL REFORMS FISCAL RETRENCHMENT FISCAL RISKS FISCAL SAVINGS FISCAL SIDE FISCAL STABILITY FISCAL STANCE FISCAL SUSTAINABILITY FISCAL TRANSPARENCY FOREIGN BORROWING FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN LOANS GOVERNMENT BUDGET GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT GUARANTEES GOVERNMENT REVENUES GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GROWTH RATE INCOME DISTRIBUTION INCOME REDISTRIBUTION INCOME SUPPORT PROGRAMS INCOME TAXES INFLATION INTEREST RATE INTEREST RATE SUBSIDIES INTEREST RATES LOCAL GOVERNMENT BUDGETS MACROECONOMIC ENVIRONMENT MACROECONOMIC INDICATORS MACROECONOMIC POLICIES MACROECONOMIC STABILIZATION MARGINAL RATE MARKET PRICES MEDICAL TREATMENT MEDIUM TERM EXPENDITURE MEDIUM TERM EXPENDITURE FRAMEWORK MINISTRY OF ECONOMY MINISTRY OF FINANCE MONETARY AUTHORITIES MONETARY POLICIES MONETARY POLICY NATIONAL BANK NATIONAL STATISTICS NET LENDING OIL PRODUCTS OLD-AGE OPERATING EXPENDITURES PAYROLL TAX PAYROLL TAXES PENSION FUND PENSION REFORM PERFORMANCE INDEX PERSONAL INCOME PERSONAL INCOME TAX PERSONAL INCOME TAX RATE POVERTY REDUCTION PRICE INDEX PRIVATE SECTOR PRODUCER SUBSIDIES PROGRAM BUDGETING PROGRAMS PUBLIC EXPENDITURE PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FINANCIAL MANAGEMENT PUBLIC GOODS PUBLIC INVESTMENT PUBLIC INVESTMENT SPENDING PUBLIC INVESTMENTS PUBLIC PROCUREMENT PUBLIC SECTOR PUBLIC SERVICES PUBLIC TRANSPORTATION REFORM AGENDA REFORM EFFORTS RESOURCE ALLOCATION REVENUE GROWTH SALES TAX SERVICE PROVISION SOCIAL ASSISTANCE SOCIAL EXPENDITURES SOCIAL OUTCOMES SOCIAL POLICIES SOCIAL POLICY SOCIAL PROTECTION SOCIAL SECURITY SOCIAL SECURITY CONTRIBUTIONS SOCIAL SERVICES SOCIAL WELFARE STATE BUDGET STRATEGIC ALLOCATION STRUCTURAL DEFICIT STRUCTURAL REFORM STRUCTURAL REFORMS TAX BASE TAX BASES TAX BURDEN TAX COLLECTION TAX COLLECTIONS TAX CONCESSIONS TAX EXEMPTIONS TAX EXPENDITURES TAX RATE TAX RATES TAX REVENUE TAX REVENUES TAX SYSTEM TOTAL PUBLIC SPENDING TOTAL SPENDING TRANSITION ECONOMIES UNCERTAINTY WAGE EXPENDITURES WAGE INCOME WAGE POLICY WELFARE PROGRAMS
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000356161_20111031002336 http://hdl.handle.net/10986/2790

Description
Summary:	Belarus faces significant fiscal challenges, stemming from the structural features of its economic model. As of mid-2011, under a severe exchange rate and balance of payments crisis, the Government needs to pursue a carefully sequenced strategy of macroeconomic adjustment coupled with a strong program of structural reforms. This programmatic Public Expenditure Review (PER) fiscal policy options to simultaneously tackle the need for fiscal consolidation as well as the structural challenges with significant fiscal linkages. The options for fiscal reform proposed in this report are estimated to generate average net fiscal savings of 3.9 percent of Gross Domestic product (GDP) annually over the medium term. Given the implied structural changes in the expenditure program, the fiscal impact of these reforms extends beyond the four year projection period.

Belarus Public Expenditure Review : Fiscal Reforms for a Sustainable Economic Recovery

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