Lesotho - Managing Government Finances for Growth and Poverty Reduction : Public Expenditure Management and Financial Accountability Review
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Washington, DC
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This report on managing government
finances for growth and poverty reduction in Lesotho is
centered on three areas of analysis: (i) macroeconomic and
fiscal performance and prospects; (ii) inter and
intra-sectoral allocation of resources; and (iii) public
expenditure and financial management. A Public Financial
Management assessment report, prepared using the Public
Expenditure and Financial Accountability (PEFA) framework is
included as an Appendix to the main report. The study stress
that despite the relatively good growth performance, Lesotho
remains one of the poorest countries in the Southern Africa
region. Because of this the Government now seeks to address
in a more systematic manner the many challenges facing
Lesotho including: 1) the slow pace of job creation in
Lesotho, compounded by the continual decline in mining jobs
for migrant workers in South Africa and a slowdown in GDP
growth rate; 2) the increase in the incidence of poverty
over the past twenty years; 3) a relatively large and
inefficient public sector; 4) excessive reliance on revenues
generated by the Southern Africa Customs Union ; and 5) the
rapid spread of HIV/AIDS (current prevalence rate estimated
at 24 percent), which, if unchecked, will negate all efforts
to improve the economy and welfare of the Basotho people.
Palabras clave
GDP GROWTH RATE, JOB CREATION, MACROECONOMIC PERFORMANCE, MIGRANT WORKERS, MINING JOBS, POVERTY, POVERTY REDUCTION, PUBLIC EXPENDITURE, PUBLIC FINANCIAL MANAGEMENT, RESOURCE ALLOCATION, SPREAD OF HIV/AIDS