The World Bank has published the “North Macedonia Public Finance Review: Ensuring Stability and Boosting Resilience” a detailed overview and analysis aimed at enhancing the understanding of public finance in North Macedonia.
This 2024 comprehensive report, offers valuable insights into various aspects of the fiscal landscape of North Macedonia.
The Public Finance Review (PFR) outlines and provides an overview of the macroeconomic vulnerabilities and fiscal challenges with recommendations and the report serves as a diagnostic tool and roadmap for economic stability and resilience.
Key areas of focus include:
- Macroeconomic Vulnerabilities and Fiscal Challenges: prevailing risks within the macroeconomic framework, detailing growth and fiscal performance, composition and trends in revenues and spending and the related challenges.
- Boosting Tax Revenues: provides overview and needs for reform in tax policies, strengthening tax administration and compliance and the need for reforms and fiscal consolidation.
- Strengthening Government Effectiveness: emphasizes the need for improvements in governmental processes and structures for enhancing effectiveness of public administration and local government finances.
- Improving the Efficiency, Effectiveness, and Equity of Social and Education Spending: focuses on improvement of the efficiency, equity of health care services, social assistance, strengthening and improving education spending efficiency.
- Improving the Efficiency of Procurement and Agricultural Subsidies: addresses the position of refining procurement processes and agricultural subsidy schemes for more efficient use of public funds.
The “North Macedonia Public Finance Review” is a contribution to the understanding and enhancement of public finance management in North Macedonia. To access the full report, visit the official site here.
