Philippines : Fiscal Transparency Evaluation.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. Fiscal Affairs Department.

Series:

IMF Staff Country Reports; Country Report ; No. 2015/156

IMF Staff Country Reports

Language:

English

Subjects (All):

International finance--Philippines.

International Monetary Fund--Philippines.

Philippines--Economic conditions.

Local Subjects:

International finance--Philippines.

International Monetary Fund--Philippines.

Philippines--Economic conditions.

Physical Description:

1 online resource (138 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2015.

Language Note:

English

Summary:

This paper discusses the findings of Fiscal Transparency Evaluation on Philippines. Improving fiscal transparency has been a priority in the Philippines over recent years. The government’s public financial management reform strategy has helped initiate a wide variety of reforms, which are beginning to bear fruit. Fiscal reporting is relatively comprehensive, frequent, and timely, with many areas of good and advanced practices. Fiscal risk analysis and management is relatively strong in the Philippines compared with other countries. However, improvements are needed in a few areas, especially to capture of risks from guarantees and public–private partnership, assess the scope of tax expenditures, and introduce a longer-term perspective in the fiscal sustainability analysis.

Contents:

""Cover Page""; ""Title Page""; ""Copyright Page""; ""Contents""; ""TABLES""; ""FIGURES""; ""BOXES""; ""ACRONYMS""; ""PREFACE""; ""OVERALL ASSESSMENT""; ""A. Scoring Philippines against the Fiscal Transparency Code""; ""1. Heat Map on Fiscal Transparency""; ""2. Main Fiscal and Financial Reports in Philippines""; ""B. The PFM Reform Context""; ""1. Selected Macroeconomic Indicators""; ""3. Public Sector Financial Overview""; ""1. The PFM Reform Program""; ""4. Impact of Selected Past Reforms on FTC Assessment""; ""C. Cross-Cutting Fiscal Transparency Issues""

""2. Coverage of Public Sector Institutions""""3. Comparison of the 2012 Cash Flow Statements from BTR and COA""; ""4. Expenditure Funded by Retained Revenues""; ""5. Evaluation of the Size and Composition of Central Government Expenditure in 2012""; ""D. Priority Recommendations""; ""ANNEX I. FIRST PILLAR: FISCAL REPORTING""; ""A. Coverage of Fiscal Reports""; ""5. Priority Recommendations for PFM Reform""; ""6. Coverage of Institutions in Annual Financial Reports""; ""7. Income Statement for 2012""; ""2. Supreme Audit Institutions and Independence""

""8. Comparison of the 2012 Statements of Allotment, Obligation and Balances from DBM and COA""""ANNEX II. SECOND PILLAR: FISCAL FORECASTING AND BUDGETING""; ""A. Fiscal Forecasting and Budgeting""; ""3. Typology of Budgetary and Extrabudgetary Funds in the Philippines""; ""6. Real GDP Growth Forecast Error""; ""7. Inflation Forecast Error""; ""B. Orderliness of Fiscal Forecasting and Budgeting""; ""9. Recent Budget Submission and Publication Dates""; ""C. Policy Orientation""; ""D. Credibility""; ""10. Modification of the 2012 Obligation Program by Executive Decisions""

""8. Overall Deviation to Obligation Program""""9. Expenditure Revisions""; ""10. Revisions in the Mid Year Update""; ""11. Forecast Error of the Update""; ""ANNEX III. THIRD PILLAR: FISCAL RISK ANALYSIS AND MANAGEMENT""; ""A. Risk Disclosure and Analysis""; ""12. Coefficient of Variation of Nominal GDP Growth""; ""13. Coefficient of Variation of GDP Deflator""; ""11. Selected Contingent Liabilities, 2012""; ""14. Required Fiscal Adjustment Between 2013 and 2020 to Achieve Debt Target in 2030""; ""15. Public Pension Expenditure""; ""16. Public Health Expenditure""; ""B. Risk Management""

""4. The Definition and Reporting of Tax Expenditures""""17. Contributions to Changes in Nonfinancial Public Sector (NFPS) Debt""; ""18. National Government Gross Financing Requirements""; ""19. Contract Value of PPP Commitments""; ""12. Core Set of Financial Soundness Indicators""; ""20. Mining and Quarrying: Philippines and Emerging Market Economies""; ""5. Measuring Government Exposure to the Financial Sector""; ""21. Mining and Quarrying in Selected Emerging Market Economies""; ""22. Annual Average Number and Size of Disasters 2000-10""; ""C. Fiscal Coordination""

""23. Subnational Government Expenditure, 2012""

Notes:

Description based upon print version of record.

Description based on print version record.

ISBN:

9781513531892

1513531891

9781513506364

1513506366

OCLC:

916950363