Description: Democratic Republic of São Tomé and Príncipe : Country Integrated Fiduciary Assessment, Volume 1. Executive Summary

Democratic Republic of São Tomé and Príncipe : Country Integrated Fiduciary Assessment, Volume 1. Executive Summary

This Integrated Fiduciary Assessment is the first of its kind for Sao Tome and Principe. It combines the analysis and policy recommendations from a public expenditure review (PER), a country financial accountability assessment (CFAA), and a country...

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Bibliographic Details
Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2012
Subjects:	ACCESS TO INFORMATION ACCOUNTING ACCOUNTING SYSTEM ALLOCATION ALLOCATION OF RESOURCES ANNUAL BUDGET ARTICLE AUDIT SYSTEM BENEFICIARIES BUDGET ALLOCATIONS BUDGET CYCLE BUDGET DISCIPLINE BUDGET DOES BUDGET EXECUTION BUDGET FORMULATION BUDGET IMPLEMENTATION BUDGET LAW BUDGET MANAGEMENT BUDGET MANAGEMENT PROCESS BUDGET PLANNING BUDGET PREPARATION BUDGET PROCESS BUDGET SUPPORT BUDGETARY CONSTRAINTS BUDGETARY DISCIPLINE BUDGETARY IMPACT BUDGETARY PRACTICES BUDGETARY PROCESS BUDGETARY RESOURCES BUDGETARY SYSTEM BUDGETING PROCESS CAPACITY BUILDING CAPITAL EXPENDITURE CAPITAL EXPENDITURES CASH BUDGETING CASH FLOW CASH FLOWS CASH MANAGEMENT CENTRAL BANK CENTRAL BUDGET CENTRAL GOVERNMENT CIVIL SERVANTS CIVIL SERVICE CONFLICTS OF INTEREST CONTINGENT LIABILITIES COST ESTIMATES COST RECOVERY COST-EFFICIENCY COUNTERPART FUNDS COUNTRY PROCUREMENT COUNTRY PROCUREMENT ASSESSMENT DATA AVAILABILITY DEBT DEBT RELIEF DECENTRALIZATION DECISION-MAKERS DEVELOPMENT BANK DOMESTIC DEMAND DOMESTIC EXPENDITURE DOMESTIC MARKET DOMESTIC REVENUE DONOR COORDINATION DONOR FINANCING DONOR FUNDS ECONOMIC CLASSIFICATION ECONOMIC GROWTH EXPENDITURE BUDGET EXPENDITURE CATEGORIES EXPENDITURE PLANNING EXPENDITURE POLICIES EXPENDITURE PROCESS EXPENDITURES EXTERNAL AID EXTERNAL AUDITS EXTERNAL FINANCING EXTERNAL SHOCKS FIDUCIARY ASSESSMENT FINANCIAL ACCOUNTABILITY FINANCIAL FLOWS FINANCIAL IMPACT FINANCIAL IMPLICATIONS FINANCIAL INFORMATION FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL POSITION FINANCIAL PROGRAM FINANCIAL PROGRAMMING FINANCIAL REQUIREMENTS FINANCIAL RESOURCES FINANCIAL STATUS FISCAL ADJUSTMENT FISCAL CONSEQUENCES FISCAL CONSTRAINT FISCAL DEFICIT FISCAL DEFICITS FISCAL DISCIPLINE FISCAL OPERATIONS FISCAL POLICIES FISCAL REVENUE FISCAL STANCE FISCAL SUSTAINABILITY FISCAL YEARS GENERAL ACCOUNTS GOVERNMENT ACCOUNTING GOVERNMENT BUDGET GOVERNMENT EXPENDITURE GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT HARD BUDGET CONSTRAINTS HEALTH CARE HEALTH CARE SYSTEM HEALTH SECTOR HEALTH SERVICES HEALTH UNITS INFLATION INFORMATION EXCHANGE INFORMATION TECHNOLOGY INTERNAL AUDIT INTERNAL CONTROL INTERNAL CONTROLS INVESTMENT BUDGET INVESTMENT BUDGETING LOCAL TAXES LONG-TERM DEBT MACROECONOMIC FRAMEWORK MACROECONOMIC MODEL MEDIUM TERM EXPENDITURE MEDIUM TERM EXPENDITURE FRAMEWORK MONETARY DISCIPLINE MONETARY POLICY NATIONAL AUTHORITIES NATIONAL BUDGETS NATIONAL DEVELOPMENT NATIONAL INCOME NATIONAL POLICY NATIONAL STRATEGY NATURAL DISASTERS NATURAL RESOURCES NET LENDING OIL PRICES POVERTY REDUCTION POVERTY REDUCTION STRATEGY PRIMARY DEFICITS PRIVATE ENTERPRISES PRIVATE INVESTMENT PRIVATE SECTOR PROCESS OF BUDGET EXECUTION PROCUREMENT PROCESS PROGRAMS PUBLIC ACCOUNTS PUBLIC ADMINISTRATION PUBLIC BUDGET PUBLIC COMPANIES PUBLIC DEBT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC EXPENDITURE ANALYSIS PUBLIC EXPENDITURE REVIEW PUBLIC FINANCE PUBLIC FINANCIAL MANAGEMENT PUBLIC FUNDS PUBLIC INVESTMENT PUBLIC INVESTMENT PROGRAM PUBLIC MANAGEMENT PUBLIC OFFICIALS PUBLIC PROCUREMENT PUBLIC REVENUES PUBLIC SECTOR PUBLIC SECTORS PUBLIC SERVICE PUBLIC SPENDING PUBLIC WORKS RECURRENT EXPENDITURE REFORM PROCESS REFORM PROGRAM REGIONAL ADMINISTRATION REGULATORY FRAMEWORK RESERVE FUNDS SECTOR POLICIES SERVICE DELIVERY SOCIAL EXPENDITURES SOCIAL INDICATORS SOCIAL PROGRAMS SOCIAL PROJECTS STATE BUDGET STRUCTURAL DEFICIT STRUCTURAL DEFICITS STRUCTURAL REFORMS SUSTAINABILITY ANALYSIS TAX BREAKS TAX COLLECTION TAX EXEMPTIONS TAX REVENUE TAX REVENUES TAX SYSTEM TOTAL CURRENT EXPENDITURES TOTAL EXPENDITURE TOTAL PUBLIC EXPENDITURE TOTAL SPENDING TRANSPARENCY TREASURY WEAK BUDGET EXECUTION
Online Access:	http://documents.worldbank.org/curated/en/2007/06/9823579/democratic-republic-sao-tome-principe-country-integrated-fiduciary-assessment-vol-1-4-executive-summary-country-integrated-fiduciary-assessment http://hdl.handle.net/10986/7732

Description
Summary:	This Integrated Fiduciary Assessment is the first of its kind for Sao Tome and Principe. It combines the analysis and policy recommendations from a public expenditure review (PER), a country financial accountability assessment (CFAA), and a country procurement assessment review (CPAR). The goal of the report is to identify the major challenges facing the country in the prepetroleum era (the next three to five years) in public finance management (including public enterprises) as it attempts to implement its National Poverty Reduction Strategy (NPRS) with a tight resource envelope. This executive summary presents recent economic developments and fiscal sustainability analysis that takes into account petroleum and no-petroleum scenarios, with corresponding analysis on which of the Millennium Development Goals (MDGs) are reachable. The summary reports on revenue and expenditure performance since 2000-01, issues related to the implementation of the public investment program (PIP) and its coordination with the NPRS, and the budget process, including findings from the Health PER, which highlights a lack of allocative efficiency. The summary reports on the financial fragility of state-owned enterprises (SOEs) and the possible fiscal consequences for the central budget, especially regarding the implicit subsidies and tax breaks to (and the hypothetical tariff increases of) the electricity and water company. The summary of reports on the status of the public finance management system (budget preparation, execution, control, governance, and human resources) and the reform process that may address many of the concerns it rises. Finally, the summary presents the findings related to the procurement process, including the legislative and regulatory framework, institutional framework and management capacity, procurement operations and market practices, and integrity and transparency of the system.

Democratic Republic of São Tomé and Príncipe : Country Integrated Fiduciary Assessment, Volume 1. Executive Summary

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