Bangladesh - Public Expenditure and Institutional Review : Towards a Better Quality of Public Expenditure - Sectoral Analysis
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World Bank
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Bangladesh has recorded many impressive
achievements in economic and social development in the last
decade and a half. It has achieved steady economic growth of
over 5.5 percent annually (over 6 percent on average since
2004), maintained relatively low inflation and stable levels
of domestic debt. More remarkable have been its achievements
in reducing income poverty and improving social indicators,
such as life expectancy, fertility control, child mortality,
literacy and enrollment rates, which, in many cases, exceed
other countries in the region and outside. In addition to
standard expenditure policy analysis typically associated
with Public Expenditure Reviews (PERs), this study combines
an assessment of key institutional elements that are likely
to affect budget outcomes with political economy analysis of
the budget institutions, in order to discover the underlying
reasons behind the existing equilibrium. While the Public
Expenditure and Institutional Review (PEIR) does not include
a description of the technical aspects of Public Financial
Management (PFM) institutions, it makes use of the numerous
studies that exist in this area to illustrate their effect
on incentives. This approach is motivated by
Bangladesh's long journey of 14 years towards reforming
PFM systems, which is yet to result in a fundamental break
with past practices of input-oriented incremental budgeting
and relatively weak expenditure controls, especially at the
sector-specific level. This requires different thinking and
an approach aimed at addressing the incentive structure of
those who can influence more fundamental reforms in PFM.
Palabras clave
BUDGET OUTCOMES, DOMESTIC DEBT, ECONOMIC AND SOCIAL DEVELOPMENT, EXPENDITURE CONTROLS, INCOME POVERTY REDUCTION, INFLATION, PUBLIC FINANCIAL MANAGEMENT REFORMS, SOCIAL INDICATOR IMPROVEMENTS