Staff views: The staff recommends completion of the review. While official transfersand remittances have remained strong, international re. The authorities' primary fiscal balance outcome was in line with theprogram, and Priority social expenditure was above the program's indicative target. Repayment is due within 4-10 years from the date of disbursement. The rise in international prices pushed inflation to 5.
All end-June2013 quantitative targets were met. The planned activities, several regular publications, and comprehensive reporting result in enhanced transparency and accountability of the supervisors. Furtherprogress has also been made on the structural front. Net domestic assets and net foreign assets were comfortably within the program bounds. Education and Health Expenditure, 2009-13; 6.
All measures subject to end-year structural benchmarks were observed except one, on which the authorities are making good progress. All the opinions expressed here are the personal views of the authors and not the institutions for which they work. Policies have laid the ground for sustainable economic growth, with domestic and foreign investors expanding their scale of operations in a market-friendly environment. Third Annual Progress Report on the Poverty Reduction and Growth Strategy. Suggested Citation Corrections All material on this site has been provided by the respective publishers and authors.
Policies have laid the ground for sustainable economic growth, with domestic and foreign investors expanding their scale of operations in a market-friendly environment. General contact details of provider:. Balance of Payments, 2011-18; 5. Consolidated Government Financial Operations, 2011-182C. Indicators of Capacity to Repay the Fund, 2009-2023; 7. Sound macroeconomic policies, together with generous support from development partners helped ensure fiscal and external sustainability, while providing sufficient resources to begin implementing the post-Ebola Recovery Strategy.
This would increase the fiscal space for pro-poor social expenditure. The authorities plan to continue implementing stability-oriented macroeconomic policies and growth-enhancing and poverty-reducing policies. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member. The impact of the September 21 terrorist attack has beenlimited, so far circumscribed to the tourist sector. These figures do not take into account the length of the repayment, so comparisons between countries are purely on an amount borrowed basis. Commercial prospects of oil discoveries are promising, and the discovery of aquifers holding a potentially substantial supply of water in Northern Kenya could have a huge impact on the lives of future generations. The International CriminalCourt trial of President Kenyatta for crimes against the humanity has been postponeduntil February 5, 2014.
Consolidated Government Financial Operations, 2011-18. The authorities' primary fiscal balance outcome was in line with the program, and Priority social expenditure was above the program's indicative target. Recent evidence shows that large U. All end-June 2013 quantitative targets were met. By William Freeman Comments are closed.
In this context, the new government has taken decisivesteps towards devolution supported by a renovated institutional framework and. They and their institutions are all, however, completely absolved of responsibility for this paper. Since the last quarter of 2015, economic growth has resumed, and it remains on an upward trend, supported by new investments in mining, agriculture and fisheries. In particular, the practice of keeping the price of retail fuel constant by reducing the excise on retail fuel whenever oil prices rise or the exchange rate depreciates is no longer sustainable since the excise on retail fuel has now reached zero. All end-June 2013 quantitative targets were met. The authorities plan to continue implementing stability-oriented macroeconomic policies and growth-enhancing and poverty-reducing policies. In particular, implementing the Treasury Single Account, establishing the Natural Resource Revenue Fund and adopting the Wage and Pay Reform strategy would improve fiscal outcomes.
In parallel, the government intends to strengthen transparency and sound budget management, including in regard to energy and food subsidies. For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jim Beardow or Hassan Zaidi The email address of this maintainer does not seem to be valid anymore. Macroeconomic Outlook and Risks; B. It also allows you to accept potential citations to this item that we are uncertain about. Reforms of revenue mobilization and administration, expenditure control and public finance management have contributed to fiscal sustainability, while providing a framework for transparency and accountability in the use of public resources. The mission would like to thank the government and the Central Bank of Djibouti for the candid, productive discussions and for their warm hospitality during its stay. This allows to link your profile to this item.
Growth is projected at 4. Foreign investment flows have risen and boosted the stock market, allowing for a sustained accumulation of international reserves. Diversifying growth, making it more inclusive and distributing its benefits more widely should be the overriding focus of economic policy. In August 2013, there were 11 Islamic commercial banks with 1920 number of offices, 24 Islamic business unit with 554 number of offices and 160 Islamic rural banks with 398 numbers of offices. The government is committed to rigorous debt management, in view of the high levels of external debt, relying on concessional funds to finance numerous projects currently in execution.
The common upward growth trend becomes even more apparent when the remaining estimated shadow economy share is added to the one already included in the official statistics: the data presented in Figure 2. . The governance, accountability, and internal processes of the supervisors, operating under a well-functioning twin-peaks model, are robust. It can have the length of between one and two years. Financial institutions are moving ahead of schedule in adopted prudential guidelines issued by the central bank in line with international best practices.