The Belize Public Expenditure Review (PER) provides a comprehensive analysis of the country’s fiscal policies and spending patterns over the last decade and offers a road map for policy makers to achieve more sustainable and equitable development outcomes and enhance the performance of public institutions. The review highlights the significant progress made by Belize in recent years, particularly in terms of fiscal consolidation and debt management. It also identifies several challenges that need to be addressed, including deficiencies in the public financial management framework and high levels of expenditure rigidity, especially related to the public sector wage bill. The review also emphasizes the need to improve the efficiency and effectiveness of public spending in key sectors such as education and health by addressing challenges such as the decline in learning outcomes and participation rates despite the high levels of public expenditure allocated to the education sector, as well as limited availability of human resources in the health sector, inefficient health financing and service delivery models, and deficiencies in health sector governance. To address these challenges, the PER recommends a range of policy measures, including the adoption of a rules-based fiscal management framework, improvements in value for money on key social and investment programs, and the containment of growth in the public sector wage bill. The report also recommends enhancing the government’s fiscal ability to respond to external shocks, such as natural disasters or health emergencies, improving coordination among stakeholders to enhance effectiveness of public investment, and reducing fiscal risks related to climate change by optimizing expenditures and increasing the economy’s resilience. The report’s specific recommendations include the adoption of a Fiscal Responsibility Law, the establishment of an independent fiscal council, and allocation of sufficient funding to the Natural Disaster Reserve Fund. The report also suggests developing effective policy strategies to improve the productivity of schools and hospitals and to retain health workers in the country and strengthening accountability in health and education sectors.
DETAILS
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Belize Public Expenditure Review
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2/29/2024 12:01:00 AM
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2/29/2024 12:01:00 AM
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World Bank
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Public Expenditure Review (PERR)
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English
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Belize
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Latin America & Caribbean (LCR)
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Public Sector Expenditure Policy
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P178192
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Belize Public Expenditure Review
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The Belize Public Expenditure Review (PER) provides a comprehensive analysis of the country’s fiscal policies and spending patterns over the last decade and offers a road map for policy makers to achieve more sustainable and equitable development outcomes and enhance the performance of public institutions. The review highlights the significant progress made by Belize in recent years, particularly in terms of fiscal consolidation and debt management. It also identifies several challenges that need to be addressed, including deficiencies in the public financial management framework and high levels of expenditure rigidity, especially related to the public sector wage bill. The review also emphasizes the need to improve the efficiency and effectiveness of public spending in key sectors such as education and health by addressing challenges such as the decline in learning outcomes and participation rates despite the high levels of public expenditure allocated to the education sector, as well as limited availability of human resources in the health sector, inefficient health financing and service delivery models, and deficiencies in health sector governance. To address these challenges, the PER recommends a range of policy measures, including the adoption of a rules-based fiscal management framework, improvements in value for money on key social and investment programs, and the containment of growth in the public sector wage bill. The report also recommends enhancing the government’s fiscal ability to respond to external shocks, such as natural disasters or health emergencies, improving coordination among stakeholders to enhance effectiveness of public investment, and reducing fiscal risks related to climate change by optimizing expenditures and increasing the economy’s resilience. The report’s specific recommendations include the adoption of a Fiscal Responsibility Law, the establishment of an independent fiscal council, and allocation of sufficient funding to the Natural Disaster Reserve Fund. The report also suggests developing effective policy strategies to improve the productivity of schools and hospitals and to retain health workers in the country and strengthening accountability in health and education sectors.
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