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Workshop on Medium-term Budget Frameworks
Accra, 2 – 6 June 2014
Medium Term Budget Frameworks:
Lessons Learnt from the Seminar
Diagnostic of the current situation
• All countries of the region have put in place
sequenced Medium Term Frameworks with
mix results
• Fiscal reporting is already in place but
quality of information remains an issue.
• All countries are progressing toward better
fiscal transparency but the role of civil
society in budgetary discussions remains
limited.
• The main PFM issues in the region remain
fiscal discipline and budget credibility 2
Main achievements
• All countries are producing MTFFs and use
them to allocate budget ceilings.
• Pre-Budget Reports are in place.
• Significant investments have been made in
capacity development.
• Quality of reporting and budget transparency
is improving.
3
Main benefits from MTBFs
All countries of the region report that MTFs
have delivered intermediate gains:
• MTFs are catalysts for better planning and
priority of expenditures.
• Budgets are already more policy driven
• PBP have simplified the budgetary debate
• Sector ceilings are in place and accepted by
MDAs
4
Remaining weaknesses in the MTF
programming process
• Macroeconomic data are lacking in quality with an
impact on the reliability of projections;
• The high level of vulnerability of the local economies
make them very vulnerable to endogenous and
exogenous chocks.
• Revenue forecasting remains difficult.
• Linkage between the budgets and MTFs remains
weak.
• Sector strategies remain weak and difficult to
implement.
• MTEF are still missing but are probably premature.
5
Fiscal discipline and budget credibility
A sound fiscal planning process is not enough
to establish budget credibility. Other factors
should be taken into consideration such as:
• Adjustment of the budget calendar + budget
analysis
• Cash management
• Better information on planned expenditures
• Commitment control
• Better budget execution processes
• Monitoring of arrears
• Better reporting………………….AND………
6
7
STRONG POLITICAL COMMITMENT !!!
The way forward
• Keep improving the quality of fiscal
planning
• Link introduction of MTFs to other
budget reforms
• Consider the role of fiscal rules, budget
norms, sub-ceiling etc.
8
Last recommendations
• Don’t move to bottom-up budgeting before top-down
budgeting is successfully implemented.
• Don’t move to full program based budgeting before
budget credibility is established.
• Don’t move to program budgeting before line item
budgeting has been trim down and successful.
• DoN’t integrate sector planning in the budgeting
process before national planning is fully integrated.
• Control inputs before seeking to control outputs
• Budget for work to be done before budgeting for
results to be achieved.
9

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Medium Term Budget Frameworks in West Africa: Lessons learnt

  • 1. Workshop on Medium-term Budget Frameworks Accra, 2 – 6 June 2014 Medium Term Budget Frameworks: Lessons Learnt from the Seminar
  • 2. Diagnostic of the current situation • All countries of the region have put in place sequenced Medium Term Frameworks with mix results • Fiscal reporting is already in place but quality of information remains an issue. • All countries are progressing toward better fiscal transparency but the role of civil society in budgetary discussions remains limited. • The main PFM issues in the region remain fiscal discipline and budget credibility 2
  • 3. Main achievements • All countries are producing MTFFs and use them to allocate budget ceilings. • Pre-Budget Reports are in place. • Significant investments have been made in capacity development. • Quality of reporting and budget transparency is improving. 3
  • 4. Main benefits from MTBFs All countries of the region report that MTFs have delivered intermediate gains: • MTFs are catalysts for better planning and priority of expenditures. • Budgets are already more policy driven • PBP have simplified the budgetary debate • Sector ceilings are in place and accepted by MDAs 4
  • 5. Remaining weaknesses in the MTF programming process • Macroeconomic data are lacking in quality with an impact on the reliability of projections; • The high level of vulnerability of the local economies make them very vulnerable to endogenous and exogenous chocks. • Revenue forecasting remains difficult. • Linkage between the budgets and MTFs remains weak. • Sector strategies remain weak and difficult to implement. • MTEF are still missing but are probably premature. 5
  • 6. Fiscal discipline and budget credibility A sound fiscal planning process is not enough to establish budget credibility. Other factors should be taken into consideration such as: • Adjustment of the budget calendar + budget analysis • Cash management • Better information on planned expenditures • Commitment control • Better budget execution processes • Monitoring of arrears • Better reporting………………….AND……… 6
  • 8. The way forward • Keep improving the quality of fiscal planning • Link introduction of MTFs to other budget reforms • Consider the role of fiscal rules, budget norms, sub-ceiling etc. 8
  • 9. Last recommendations • Don’t move to bottom-up budgeting before top-down budgeting is successfully implemented. • Don’t move to full program based budgeting before budget credibility is established. • Don’t move to program budgeting before line item budgeting has been trim down and successful. • DoN’t integrate sector planning in the budgeting process before national planning is fully integrated. • Control inputs before seeking to control outputs • Budget for work to be done before budgeting for results to be achieved. 9