Republic of Armenia: Fiscal Transparency Evaluation

May 15, 2019

Preview Citation

Format: Chicago

Republic of Armenia: Fiscal Transparency Evaluation, (USA: International Monetary Fund, 2019) accessed November 12, 2024

Summary

This paper presents Fiscal Transparency Evaluation (FTE) for Armenia. This report provides 10 recommendations aimed at further enhancing fiscal transparency in the areas prioritized. Fiscal forecasts and budgets have become more forward looking and policy oriented, with the introduction of a medium-term expenditure framework (MTEF), improved fiscal objectives, and a performance budgeting system. The report presents the assessment of fiscal transparency practices against the IMF’s Fiscal Transparency Code (FTC). Armenia’s fiscal transparency practices have strengths and weaknesses in all areas of FTC: fiscal reporting, fiscal forecasting and budgeting, and fiscal risk disclosure and management. The fiscal transparency evaluation also estimates Armenia’s public sector financial position, in order to provide a more comprehensive view of public finances. Expanding the institutional coverage of Armenia’s fiscal reports to the entire public sector would increase the deficit by 1.3 percent of gross domestic product and would have a material impact on revenue and expenditure.

Subject: Budget execution and treasury management, Budget planning and preparation, Economic sectors, Expenditure, Fiscal risks, Medium-term budget frameworks, Public financial management (PFM), Public sector

Keywords: Annual budget, Annual budget execution report, Balance sheet, Baseline debt projection, Budget appropriation, Budget document, Budget documentation, Budget execution and treasury management, Budget message, Budget planning and preparation, Central government, CR, Debt management, Execution report, Fiscal policy, Fiscal risks, Global, ISCR, Public sector, Real GDP, Reserve fund, State budget receipt, State debt

Publication Details

Pages:

90
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/134
Stock No:

1ARMEA2019004
ISBN:

9781498315098
ISSN:

1934-7685

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