Zambia Public Expenditure Management and Financial Accountability Review by The World Bank pdf

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Zambia Public Expenditure Management and Financial Accountability Review by The World Bank pdf download

Zambia Public Expenditure Management and Financial Accountability Review by The World Bank pdf download. Zambia’s economy is not growing fast. Poverty is on the rise. The quality of economic governance is on the decline. And public resources are not well spent. The badly-needed first steps to reverse all this are: getting the budgetary allocations right and making sure those allocations go to where they’re supposed to go. That requires making the public aware of the government’s budgetary decisions and holding the government accountable for better performance.

Zambia Public Expenditure Management and Financial Accountability Review by The World Bank pdf download

Only through broader disclosure of the government’s resources and liabilities will it be possible for Zambians to develop workable strategies to tackle the many economic challenges that lie ahead. Budgets, now noncredible, have to become credible. Spending rules, where they exist, have to be strengthened and enforced. Where rules are missing, they have to be created and once again enforced—to remove today’s pernicious discretion.

Zambia Public Expenditure Management and Financial Accountability Review by The World Bank pdf download

Addressing the longstanding challenges that Zambia faces in public expenditure management will require targeted efforts and strong political will. The new constitutional review of public finance, the anticorruption campaign of the new government, and the new interest of parliament in governance and accountability are all encouraging. Yet, for Zambia to assure that public accountability is enduring and not dependent on the government of the day, it must strengthen institutions that can provide public oversight and promote basic checks and balances.

Zambia Public Expenditure Management and Financial Accountability Review by The World Bank pdf download

Despite a legal framework based on the Westminster tradition of government, many of Zambia’s public finance laws and regulations are not enforced. So, the administrative systems and procedures to control expenditures have broken down. Audit systems to detect improprieties are ineffective because the Auditor General’s recommendations are not enforced. This lack of sanctions only emboldens those engaging in improper activities. The lack of transparency in budget management— caused in part by weak financial reporting—means the public cannot understand the economic tradeoffs required of Zambia today.

Zambia Public Expenditure Management and Financial Accountability Review by The World Bank pdf download

The limited capacity of government suggests targeting a few major aspects of public finance: ■ Improving compliance with existing regulations. ■ Strengthening the state’s oversight institutions. ■ Promoting public access to information. ■ Rebuilding information management and reporting systems. Strengthening the Laws and Institutions for Accountability In a system with democratic control of public expenditure, the parliament typically approves the budget presented by the executive as well as any major changes needed during the budget year. However, under the current financial provisions in Zambia’s Constitution, the Ministry of Finance can make sweeping changes in the budget allocations without prior consent of Parliament—flexibility that could easily be misused without proper parliamentary oversight.

Zambia Public Expenditure Management and Financial Accountability Review by The World Bank pdf download

Zambia Public Expenditure Management and Financial Accountability Review by The World Bank pdf download


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