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Budgeting and Public Expenditures in OECD Countries 2019

image of Budgeting and Public Expenditures in OECD Countries 2019

This report provides a comprehensive view of practices and developments in the governance, implementation and performance of budgeting across OECD countries. It looks at recent practices such as the application of medium-term frameworks and the use of data and analytics to highlight the impacts of policies on concerns such as gender equality and the environment. Reflecting countries’ efforts to strengthen the insitutions supporting ficsal policy, the report also discusses trends in Parliamentary oversight, citizen participation, transparency, infrastructure governance and the management of fiscal risks.

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Capital budgeting, Infrastructure Governance and PPPs

Having a sound capital budgeting framework is essential to ensuring that the budget meets national development needs in a cost-effective and coherent manner. The OECD Principles of Budgetary Governance highlight four key elements towards certifying this objective: 1) the grounding of capital investment plans in objective appraisal of economic capacity gaps, infrastructural development needs and sectoral/social priorities; 2) the prudent assessment of costs and benefits of such investments, affordability, relative priority among various projects, and overall value for money; 3) the evaluation of investment decisions independently of the specific financing mechanism; and 4) the development and implementation of a national framework for supporting public investment (OECD, 2015). This chapter gives a snapshot of OECD practices for capital budgeting and how they compare with these principles using the OECD Infrastructure Governance Framework and the OECD Principles of Public Governance of Public-Private Partnership (PPP).

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