Armenia: Technical Assistance Report-Enhancement of Public Investment Management Practices for Domestic and Externally Financed Projects

February 14, 2024

Preview Citation

Format: Chicago

Armenia: Technical Assistance Report-Enhancement of Public Investment Management Practices for Domestic and Externally Financed Projects, (USA: International Monetary Fund, 2024) accessed December 22, 2024

Summary

This report analyzes current public investment practices in Armenia and identifies key reform areas. Building on the 2018 Public Investment Management Assessment (PIMA), it provides an overview of the Public Investment Management process and challenges to be tackled, including bottlenecks and solutions for the domestically and foreign financed projects. For domestically financed projects, the key recommendations are to ensure consistency of the definition of public investments across laws and regulations, ensure that all new projects use the PIM process by requiring key information for all projects, adopt a gradual approach to implementing the new procedures in the 2023 PIM Decree, and redesign the institutional framework for project monitoring. For foreign financed projects the key recommendations are to pilot projects in close coordination with one or more development partners to identify potential updates to the PIM decree and strengthen the existing monitoring framework.

Subject: International organization, Monetary policy

Keywords: Appraisal, Armenia, Budget reform, Budgeting, Capital budgeting, Capital cost, Performance based budgeting, Planning, Public expenditure, Public Financial Management, Public Investment, Public Investment Management (PIM)

Publication Details

Pages:

56
Volume:

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DOI:

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Issue:

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Series:

Technical Assistance Report No. 2024/006
Stock No:

TAREA2024006
ISBN:

9798400266942
ISSN:

3005-4575

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