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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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Fiscal Policy Management

The global expansion that has ensued since the financial and economic crisis of 2008 has peaked and global economic growth is projected to ease gradually over the next 24 months. OECD countries experienced sharp impacts on economic growth and on public finances following the crisis and have undertaken reforms to sure-up their economies. The recovery has been uneven over a period of years and the marks of the crisis are still evident: debt levels remain elevated, public investment has not fully recovered. In recent years, certain areas of public expenditure that were squeezed during the crisis, notably education and social protection, have been prioritised. A broad range of budgetary governance reforms have been progressed in the past three years, including fiscal rules, spending review and enhanced budget transparency as coutnries work to strengthen their management of fiscal policy.

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