A Public Expenditure Review for Paraguay : The Quest for Optimal Tax and Expenditure Policies for Shared Prosperity

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dc.creatorWorld Bank
dc.date2015-01-14T15:56:25Z
dc.date2015-01-14T15:56:25Z
dc.date2013-11-25
dc.date.accessioned2026-07-01T00:49:47Z
dc.descriptionParaguay has achieved significant progress in terms of fiscal policy over the past decade. Despite this progress on fiscal reform, three major challenges remain: 1) a volatile macroeconomic environment; 2) still insufficient fiscal resources; and 3) high levels of poverty and inequality. In light of these three challenges, the objective of this report is to examine the extent to which fiscal policy in Paraguay has contributed to the social progress of the past decade, and can serve the purpose of further reducing poverty and enhancing shared prosperity in the years to come. Overall, fiscal policy can contribute to containing poverty and inequality by buffering the negative impact of financial and economic crises on vulnerable parts of the population. Moreover, tax and expenditure policies that redistribute from high- to low-income households in a well-targeted manner can also contribute to these goals. The current structure of the tax system appears suboptimal in light of the identified challenges. Even though the reliance on indirect taxes insulates public revenues from economic volatility to a certain extent, it imposes high costs associated with sufficiency and equity of the system. Adequate taxation of the agricultural sector is needed to level the playing field for business development in all sectors and to address the insufficiency of taxes. While fiscal policy contributes less to poverty reduction and shared prosperity in Paraguay than in the other countries analyzed for this study, direct transfers are well targeted. Overall, Paraguay's fiscal system is less progressive than in other Latin American countries analyzed. Paraguay's reliance on indirect taxes makes its overall tax system regressive. The sufficiency and efficiency of social expenditures have to be considered within the context of fiscal prudence, which is a continuous task. This is especially important in light of the recent expansionary fiscal stance. Only if the Government is able to sustain fiscal prudence in the future, will it be able to maintain macroeconomic stability and performance.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2013/11/18706123/public-expenditure-review-paraguay-quest-optimal-tax-expenditure-policies-shared-prosperity
dc.identifierhttps://hdl.handle.net/10986/21280
dc.identifierhttps://doi.org/10.1596/21280
dc.identifier.urihttp://hdl.handle.net/123456789/411640
dc.languageEnglish
dc.languageen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO FINANCING
dc.subjectACCESS TO INSURANCE
dc.subjectACCOUNTABILITY
dc.subjectACCOUNTING
dc.subjectAGGREGATE DEMAND
dc.subjectALLOCATION
dc.subjectASSET CLASSIFICATION
dc.subjectAUTOMATIC STABILIZERS
dc.subjectBALANCE OF PAYMENTS
dc.subjectBANKING LAW
dc.subjectBASIC SERVICES
dc.subjectBASIC SOCIAL SERVICES
dc.subjectBENEFICIARIES
dc.subjectBROKERS
dc.subjectBUDGET CONSTRAINTS
dc.subjectBUDGET DATA
dc.subjectBUDGET PROCESS
dc.subjectBUSINESS CYCLE
dc.subjectCAPACITY BUILDING
dc.subjectCAPITAL EXPENDITURE
dc.subjectCAPITAL EXPENDITURES
dc.subjectCAPITAL INFLOWS
dc.subjectCASH TRANSFER
dc.subjectCENTRAL BANK
dc.subjectCENTRAL GOVERNMENT
dc.subjectCOMMODITY PRICES
dc.subjectCOMPUTABLE GENERAL EQUILIBRIUM
dc.subjectCOMPUTABLE GENERAL EQUILIBRIUM MODEL
dc.subjectCONSUMER GOODS
dc.subjectCORPORATE INCOME TAX
dc.subjectCREDIT MARKETS
dc.subjectCURRENCY
dc.subjectDATA AVAILABILITY
dc.subjectDATA COLLECTION
dc.subjectDATA QUALITY
dc.subjectDEBT MANAGEMENT
dc.subjectDEBT POLICY
dc.subjectDEPOSIT
dc.subjectDERIVATIVES
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT FINANCE
dc.subjectDISTRIBUTION OF INCOME
dc.subjectECONOMETRIC TECHNIQUES
dc.subjectECONOMIC CLASSIFICATION
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectECONOMIC GROWTH
dc.subjectEFFICIENCY OF PUBLIC SPENDING
dc.subjectEMERGING ECONOMIES
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURE
dc.subjectEXPENDITURE ANALYSIS
dc.subjectEXPENDITURE CATEGORIES
dc.subjectEXPENDITURE FORECASTING
dc.subjectEXPENDITURE POLICIES
dc.subjectEXPENDITURES
dc.subjectEXPENDITURES ON HEALTH
dc.subjectEXPORT GROWTH
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL DISTRESS
dc.subjectFINANCIAL LIBERALIZATION
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL SYSTEM
dc.subjectFISCAL ACCOUNTS
dc.subjectFISCAL BALANCE
dc.subjectFISCAL CONSOLIDATION
dc.subjectFISCAL CONSTRAINT
dc.subjectFISCAL DATA
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFISCAL PRUDENCE
dc.subjectFISCAL REFORM
dc.subjectFISCAL REVENUE
dc.subjectFISCAL RISK
dc.subjectFISCAL STANCE
dc.subjectFISCAL SYSTEM
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectGOVERNMENT INTERVENTION
dc.subjectGOVERNMENT REVENUE
dc.subjectGOVERNMENT REVENUES
dc.subjectGOVERNMENT SPENDING
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHEALTH CENTERS
dc.subjectHEALTH EXPENDITURE
dc.subjectHEALTH OUTCOMES
dc.subjectHEALTH SECTOR
dc.subjectHEALTH SPENDING
dc.subjectHOUSEHOLD INCOME
dc.subjectHUMAN DEVELOPMENT
dc.subjectIMPORT DUTIES
dc.subjectINCOME DISTRIBUTION
dc.subjectINCOME GROWTH
dc.subjectINCOME INEQUALITY
dc.subjectINCOME REDISTRIBUTION
dc.subjectINCOME TAX
dc.subjectINCOME TAX REFORMS
dc.subjectINCOME TAXES
dc.subjectINFLATION
dc.subjectINFORMATION EXCHANGE
dc.subjectINFORMATION SYSTEMS
dc.subjectINSURANCE
dc.subjectINTEREST EXPENDITURE
dc.subjectINTERNAL CONTROL
dc.subjectINTERNATIONAL CREDIT
dc.subjectINTERNATIONAL DEVELOPMENT
dc.subjectINTERNATIONAL STANDARDS
dc.subjectINVENTORIES
dc.subjectLEGAL FRAMEWORK
dc.subjectLEVELS OF PUBLIC SPENDING
dc.subjectLIABILITY
dc.subjectLIQUIDITY
dc.subjectMACROECONOMIC ENVIRONMENT
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC STABILITY
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMACROECONOMIC VARIABLES
dc.subjectMACROECONOMIC VOLATILITY
dc.subjectMARGINAL RATE
dc.subjectMARGINAL TAX RATES
dc.subjectMINISTRY OF FINANCE
dc.subjectMONETARY FUND
dc.subjectMUNICIPAL LEVEL
dc.subjectMUNICIPALITIES
dc.subjectNATIONAL ACCOUNTS
dc.subjectNATIONAL ACCOUNTS DATA
dc.subjectNATIONAL TREASURY
dc.subjectNEGATIVE SHOCKS
dc.subjectNET CAPITAL
dc.subjectNET LENDING
dc.subjectOUTCOME DATA
dc.subjectPENSION
dc.subjectPENSION FUND
dc.subjectPENSION SCHEME
dc.subjectPERSONAL INCOME
dc.subjectPERSONAL INCOME TAX
dc.subjectPOLITICAL ECONOMY
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO INVESTMENT
dc.subjectPOVERTY IMPACT
dc.subjectPOVERTY REDUCTION
dc.subjectPRICE CHANGES
dc.subjectPRICE STABILITY
dc.subjectPRIVATE CONSUMPTION
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE SECTOR
dc.subjectPROGRAMS
dc.subjectPRUDENTIAL REGULATIONS
dc.subjectPUBLIC CONSUMPTION
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC EDUCATION
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC EXPENDITURE REVIEW
dc.subjectPUBLIC EXPENDITURES
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC FINANCIAL MANAGEMENT
dc.subjectPUBLIC HEALTH
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC PENSION
dc.subjectPUBLIC RESOURCES
dc.subjectPUBLIC REVENUES
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SERVICES
dc.subjectPUBLIC SPENDING
dc.subjectPUBLIC WORKS
dc.subjectPURCHASING POWER
dc.subjectREAL GROWTH
dc.subjectREFORM PROGRAM
dc.subjectREMITTANCES
dc.subjectRENEGOTIATION
dc.subjectREVENUE INCREASES
dc.subjectSANITATION
dc.subjectSERVICE DELIVERY
dc.subjectSERVICE PROVISION
dc.subjectSMALL BUSINESS
dc.subjectSOCIAL EXPENDITURE
dc.subjectSOCIAL EXPENDITURES
dc.subjectSOCIAL OUTCOMES
dc.subjectSOCIAL PROGRAMS
dc.subjectSOCIAL PROTECTION
dc.subjectSOCIAL SERVICE
dc.subjectSOCIAL SERVICES
dc.subjectSTATE AGENCY
dc.subjectSTRUCTURAL REFORMS
dc.subjectSTRUCTURE OF REVENUES
dc.subjectTAX
dc.subjectTAX ADMINISTRATION
dc.subjectTAX BASE
dc.subjectTAX COLLECTION
dc.subjectTAX COLLECTIONS
dc.subjectTAX CREDIT
dc.subjectTAX EXEMPTIONS
dc.subjectTAX EXPENDITURES
dc.subjectTAX POLICY
dc.subjectTAX RATE
dc.subjectTAX RATES
dc.subjectTAX REFORM
dc.subjectTAX REGIME
dc.subjectTAX REVENUE
dc.subjectTAX REVENUES
dc.subjectTAX SYSTEM
dc.subjectTAX TYPE
dc.subjectTOTAL EXPENDITURE
dc.subjectTOTAL EXPENDITURES
dc.subjectTOTAL PUBLIC EXPENDITURE
dc.subjectTRANSACTION
dc.subjectTRANSPARENCY
dc.subjectTREASURY
dc.subjectTREATY
dc.subjectUNCERTAINTY
dc.subjectVALUATION
dc.subjectVALUATIONS
dc.subjectWEALTH TAXES
dc.titleA Public Expenditure Review for Paraguay : The Quest for Optimal Tax and Expenditure Policies for Shared Prosperity

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