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Kazakhstan’s government has established a comprehensive and efficient treasury system for government revenues and expenditures, and introduced a state-of-the-art government financial management information system. Kazakhstan is among the leading BRO (Baltics, Russia, and other Former Soviet Union) countries in modernizing its budget execution system despite remaining challenges in other areas of fiscal management. The successful outcomes are related partly to the high quality of the reform process, and partly to the institutional design of the Kazakh treasury. Some design features are common for most well-functioning treasuries. Other features are related to the specific economic factors, institutional features, and financial management objectives of a transition economy, with a strong emphasis on fiscal control and financial discipline.

Accounting --- Budgeting --- Public Finance --- National Budget --- Budget Systems --- Public Administration --- Public Sector Accounting and Audits --- National Budget, Deficit, and Debt: General --- National Government Expenditures and Related Policies: General --- Budgeting & financial management --- Public finance accounting --- Public finance & taxation --- Budget planning and preparation --- Fiscal accounting and reporting --- Budget execution and treasury management --- Budget classification --- Expenditure --- Public financial management (PFM) --- Budget --- Finance, Public --- Expenditures, Public --- Kazakhstan, Republic of

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This paper aims to clarify possible systemic bottlenecks to the introduction of advanced PFM reforms in the SEE countries. It relates key fiscal developments to PFM reform processes over the last 15 years. PFM reform strategies must be realistic, with clear objectives and timetables, and with strong country ownership. Among the advanced reforms, some aspects of medium-term budgeting seems to be somewhat less challenging than performance-oriented budgeting, and it could be rational to make sure that there is solid progress in this area first. When developing performance budgets, countries should consider focusing initial efforts on the areas that are most suitable for performance management, such as education and health.

Political Science --- Law, Politics & Government --- Public Finance --- Finance, Public --- Monetary policy --- Monetary management --- Cameralistics --- Public finance --- Economic policy --- Currency boards --- Money supply --- Currency question --- Public finances --- Budgeting --- National Budget --- Budget Systems --- National Government Expenditures and Related Policies: General --- Forecasts of Budgets, Deficits, and Debt --- Budgeting & financial management --- Public finance & taxation --- Budget planning and preparation --- Performance-based budgeting --- Public financial management (PFM) --- Expenditure --- Medium-term budget frameworks --- Budget --- Expenditures, Public --- Slovenia, Republic of

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Central governments or the international community at large are concerned about subnational service delivery. The design of targeted expenditure programs features frequently in central efforts to redistribute infrastructure and social spending or assure minimum standards. These programs are typically financed by the center, often with external assistance, but are implemented at the subnational level, which may not have incentives to spend the resources as intended by the center or donors. We discuss mechanisms for improving the effectiveness of targeted public expenditure programs, modeling the interaction between different levels of government as a dynamic game. An incentive structure could be designed that compelled local governments to truthfully reveal their ability to implement national programs in a cost-effective manner and to exert the effort required to maximize the expected benefits. The models have direct policy relevance in the Heavily Indebted Poor Countries (HIPCs), where donor-financed resources are used for poverty-reduction at the local level, or in large countries such as China, where there is an effort to redirect social and infrastructure spending to particular regions.

Budgeting --- Finance: General --- Financial Risk Management --- Public Finance --- Taxation --- National Budget --- Budget Systems --- Taxation, Subsidies, and Revenue: General --- Debt --- Debt Management --- Sovereign Debt --- National Government Expenditures and Related Policies: General --- General Financial Markets: Government Policy and Regulation --- General Financial Markets: General (includes Measurement and Data) --- Budgeting & financial management --- Public finance & taxation --- Finance --- Budget planning and preparation --- Tax incentives --- Debt relief --- Expenditure --- Moral hazard --- Public financial management (PFM) --- Asset and liability management --- Financial sector policy and analysis --- Competition --- Financial markets --- Budget --- Debts, External --- Expenditures, Public --- Financial risk management --- China, People's Republic of

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Uganda has committed to an ambitious climate change mitigation and adaption agenda. To achieve this, the country has developed a sound framework to enhance climate change sensitivity across public financial and public investment management. The framework clearly allocates responsibilities, enhances coordination, and requires the identification of climate expenses in the budget documentation. However, gaps remain in some key regulations, primarily on project appraisal, and some initiatives are in early stages of implementation and need further guidance and training. The Climate Public Investment Management Assessment proposes reforms across multiple areas, underscoring as priority areas project appraisal and selection, and budgeting and portfolio management.

Agricultural and Natural Resource Economics • Environmental and Ecological Economics: Environmental Economics --- International agencies --- International Agreements and Observance --- International Economics --- International institutions --- International organization --- International Organizations --- Monetary economics --- Monetary Policy --- Monetary policy --- Money and Monetary Policy --- National Government Expenditures and Related Policies: General --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Uganda