Creating Fiscal Space for Poverty Reduction in Ecuador: A by World Bank PDF

By World Bank

ISBN-10: 0821362569

ISBN-13: 9780821362563

ISBN-10: 0821362577

ISBN-13: 9780821362570

Ecuador?¦s awesome financial functionality of 2003 is encouraging, yet fragile. numerous structural bottlenecks may possibly abate monetary self-discipline and restoration, that is a pre-condition to strengthen a poverty aid schedule. Tax earmarkings and exemptions and an expansive payroll and pensions invoice have diminished to a minimal the to be had monetary area for improvement wishes. Reversing poverty developments is necessary for the country?¦s balance, and this may merely be accomplished with well-targeted, powerful and effective pro-poor courses. the established order isn't really an choice for poverty relief. protecting a legitimate economic place and deepening optimistic social results is definitely close by. one of the country?¦s many strengths are: a chronic oil providence; the lifestyles of and compliance with economic principles; reducing arrears that are supposed to totally disappear in 2004, great growth on social results regardless of lowering budgets; and a sequence of on-going reforms on funds administration. If reforms are to be successful, they must be pro-poor. Ecuador?¦s monetary pressure and negative funds administration is deeply rooted in a governance method reaping benefits the elites, be it mirrored on pro-rich subsidies, specially on simple infrastructure; off-budget operations that hinder transparency and foster corruption, or regressive transfers to subnational governments defined by way of occasion politics. The problem for the govt. is to supply more beneficial, effective, sustainable and equitable advice to the negative.

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Extra info for Creating Fiscal Space for Poverty Reduction in Ecuador: A Fiscal Management and Public Expenditure Review (World Bank Country Study)

Example text

9. The studies are Traa (2003), and Fierro-Renoy and Naranjo (2003). 10. Data on the growth of external debt in the 1980s can be found in World Bank (1991). 3 percent of GDP in 1995. 3 percent, the heaviest burden by far among Latin America’s 10 largest economies at that time (Beckerman 2002). During 1970–2000, the budget received an estimated cumulative nominal US$23 billion in direct oil revenues. Nonetheless, the public debt never stopped increasing (Traa 2003). The available estimates indicate that there was a pause in the declining trend of public sector net worth during 2000–02 (Traa 2003; UNICEF 2003).

4. 0 percent in 1988, and was kept relatively constant through 1991. In 1990, the government resisted pressures to expand expenditures when the Gulf crisis generated a large windfall in petroleum prices. Most cuts took place in current expenditures (wages, goods and services, interest, and transfers), and not in public investment. 0 percent during 1990–92. CREATING FISCAL SPACE FOR POVERTY REDUCTION IN ECUADOR 3 most of the smaller public enterprises were privatized, and some progress was made in State modernization through the 1992 Public Budgets Law and the 1993 Modernization of the State Law.

A major feature of this regime was that fiscal income from oil was used to finance an increase in the size of the State and to subsidize private spending through, among other means, low prices of domestic petroleum products, reduction in the taxation of non-oil activities, and a number of other subsidies. In light of the large amount of resources initially available, this strategy was successful at first. 0 percent. Growth of manufacturing output was also stimulated by the adoption of import-substitution policies, which shielded a budding but inefficient, domestic-market-oriented, manufacturing sector.

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Creating Fiscal Space for Poverty Reduction in Ecuador: A Fiscal Management and Public Expenditure Review (World Bank Country Study) by World Bank


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