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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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Budgetary Governance in Practice: Iceland

Growth in Iceland is expected to ease but remain robust; the economy is approaching capacity limits. Household consumption will increase on the back of continued labour immigration and rising wages in 2018 but slowdown in 2019. Business investment will decline after completion of several large projects. Unemployment has reached its lowest level since the 2008-09 economic and financial crisis and will continue to fall slightly. Revenues from exports and tourism are expected to decline from the strong levels reached in 2017.

English

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