Description: Honduras : Public Expenditure Review, Volume 1. Executive Summary and Main Report

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Honduras : Public Expenditure Review, Volume 1. Executive Summary and Main Report

Macroeconomic developments in Honduras over the last four years have been generally favorable, largely reflecting a benign external environment. Honduras' medium-term macroeconomic outlook, however, is clouded by several significant fiscal cha...

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Bibliographic Details
Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2012
Subjects:	ACCOUNTING ALLOCATION ANNUAL INCOME ARTICLE AVERAGE GROWTH BILLING ERRORS BUDGET PROCESS BUDGETING CAPACITY-BUILDING CAPITAL EXPENDITURES CAPITAL INVESTMENT CAPITAL TRANSFERS CASH BASIS CASH FLOW CASH TRANSFER CENTRAL BANK CENTRAL GOVERNMENT CENTRAL GOVERNMENT BUDGET CENTRAL GOVERNMENT EMPLOYMENT CENTRAL GOVERNMENT SPENDING CIVIL SERVANTS CIVIL SERVICE COMMODITIES COMMUNITY EDUCATION CONTINGENT LIABILITIES COST RECOVERY COST-EFFICIENCY COST-RECOVERY CURRICULUM DEBT BURDEN DEBT RATIO DEBT RELIEF DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SUSTAINABILITY DECENTRALIZATION DEFICIT LEVEL DEVELOPMENT BANK DISTRIBUTIONAL IMPACT DOMESTIC DEBT DROUGHT EARLY RETIREMENT ECONOMIC GROWTH ECONOMIC MANAGEMENT EDUCATION PROGRAM EDUCATION PROGRAMS EDUCATION SERVICES EDUCATION SPENDING EDUCATIONAL ATTAINMENT EFFICIENCY GAINS EFFICIENCY IMPROVEMENTS EFFICIENCY OF PUBLIC SPENDING ETHNIC GROUPS EXPENDITURE CUTS EXPENDITURE OUTCOMES EXPENDITURE POLICY EXPENDITURE REQUIREMENTS EXPENDITURES EXTERNAL ASSISTANCE EXTERNAL DEBT EXTERNAL FINANCING EXTERNAL GRANTS FAMILY ALLOWANCES FINANCIAL BALANCES FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MARKET FINANCIAL PROBLEMS FINANCIAL SECTOR FINANCIAL SUPPORT FINANCING OF GOVERNMENT DEFICITS FISCAL ADJUSTMENTS FISCAL BALANCE FISCAL CONSTRAINTS FISCAL COST FISCAL DEFICIT FISCAL IMPACT FISCAL PRESSURES FISCAL REFORM FISCAL REFORMS FISCAL RISK FISCAL SAVINGS FISCAL STABILITY FISCAL SUSTAINABILITY FIXED COSTS FUTURE GROWTH GOVERNMENT ACCOUNTS GOVERNMENT CONSUMPTION GOVERNMENT EXPENDITURES GOVERNMENT FINANCES GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT GROWTH RATE HEALTH INSURANCE HEALTH OUTCOMES HEALTH SECTOR HEALTH SERVICES HEALTH SPENDING IMPORT TARIFFS IMPORT TAXES INCOME TAX INFLATION INFLATION RATE INFLATION RATES INFRASTRUCTURE DEVELOPMENT INTEREST PAYMENTS INTERNAL CONTROLS LITERACY LITERACY PROGRAM LIVING STANDARDS MACROECONOMIC INDICATORS MACROECONOMIC STABILITY MARGINAL COST MARKET DEVELOPMENT MINISTRY OF FINANCE MUNICIPAL LEVEL MUNICIPALITIES NATIONAL INCOME NATIONAL INCOME ACCOUNTS NET CAPITAL NET LENDING OIL PRICES OPEN ECONOMIES OPPORTUNITY COST ORGANIC BUDGET LAW PENSION PENSION FUND PENSION SYSTEM PENSION SYSTEMS PERFORMANCE INDICATORS PERSONNEL MANAGEMENT POVERTY FUND POVERTY RATE POVERTY RATES POVERTY REDUCING POVERTY REDUCTION POVERTY REDUCTION STRATEGY PRIMARY EDUCATION PRIVATE FINANCE PRIVATE INVESTMENT PRIVATE SECTOR PROGRAM REVIEWS PROGRAMS PUBLIC BORROWING PUBLIC DEBT PUBLIC EDUCATION PUBLIC EMPLOYEES PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC EXPENDITURE MANAGEMENT SYSTEMS PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCES PUBLIC FINANCIAL INSTITUTIONS PUBLIC HEALTH PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC INVESTMENT SPENDING PUBLIC POLICY OBJECTIVES PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR BUDGET PUBLIC SECTOR SPENDING PUBLIC SECTORS PUBLIC SERVICES PUBLIC SPENDING PUBLIC WORKS QUALITY OF EDUCATION REAL EXCHANGE RATE RESOURCE ALLOCATION RESOURCE ALLOCATIONS REVENUE INCREASES ROAD FUND ROAD MAINTENANCE SALARIES SALARY SALES TAX SANITATION SCHOLARSHIP SECONDARY EDUCATION SECONDARY SCHOOL SERVICE PROVISION SEVERE FINANCIAL CRISIS SOCIAL ASSISTANCE SOCIAL INDICATORS SOCIAL OUTCOMES SOCIAL PROTECTION SOCIAL SECURITY SOCIAL SECURITY CONTRIBUTIONS SOCIAL SERVICES STAKEHOLDERS SUSTAINABILITY ANALYSIS SUSTAINABILITY OF REFORMS TAX PAYMENTS TAX REVENUE TAX REVENUES TAX SYSTEM TOTAL EXPENDITURE TOTAL EXPENDITURES TOTAL PUBLIC SPENDING TOTAL SPENDING TRANSPARENCY TREASURY SYSTEMS VOUCHER SYSTEM WAGE WAGES WORTH
Online Access:	http://documents.worldbank.org/curated/en/2007/11/8961697/honduras-public-expenditure-review-vol-1-2-executive-summary-main-report http://hdl.handle.net/10986/7669

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Summary:	Macroeconomic developments in Honduras over the last four years have been generally favorable, largely reflecting a benign external environment. Honduras' medium-term macroeconomic outlook, however, is clouded by several significant fiscal challenges. These challenges include: (a) rising operating losses of the public enterprises; (b) rising public wages; and (c) popular pressures to increase subsidies in transport, fuel, and electricity, as well as to freeze gasoline and energy prices, in the wake of international oil price hikes. To satisfy the rapidly rising demand for education in Honduras, the educational wage bill will have to rise by approximately 41 percent in real terms over the next 10 years. Even without any further adjustments in 2010, due to the agreement reached with the teachers union in August 2006 (PASCE) salary increases are coupled with projected enrollment demand the educational wage bill stands to increase by 141 percent over the next 10 years.