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fbtwitterlinkedinvimeoflicker grey 14rssslideshare1
World Bank (2003)
Publisher: Washington, DC
Types: Preprint
Subjects: DEBT SERVICE, GOVERNMENT BUDGET, CAPITAL SPENDING, TAX COLLECTION, FISCAL CONVERGENCE CRITERIA, PUBLIC SECTOR, GROSS DOMESTIC PRODUCT, GOVERNMENT ASSETS, SAVINGS, FIXED EXCHANGE RATE, PURCHASING POWER, FISCAL REFORM, BUDGET MANAGEMENT SYSTEM, EXTREME POVERTY, FISCAL CONSOLIDATION, INFLATION RATE, GOVERNMENT SECURITIES, PUBLIC SECTOR COMPENSATION, PRIMARY EXPENDITURE, GDP, ECONOMIC COOPERATION, REAL WAGES, PRIMARY DEFICIT, CENTRAL BANK, CAPITAL BUDGET, CAPITAL EXPENDITURES, PRIMARY SURPLUS, EXTERNAL SHOCKS, HOUSING, ECONOMIC GROWTH, FISCAL RESPONSIBILITY, FISCAL SURPLUS, BUSINESS CYCLE, GROWTH RATE, PORTS, INFLATION, DOMESTIC BORROWING, SECTOR RESTRUCTURING, RESOURCE ALLOCATION, DEPOSIT ACCOUNTS, FISCAL MANAGEMENT, MACROECONOMIC STABILITY, GROWTH RATES, HUMAN CAPITAL, FISCAL CONVERGENCE, SAFETY NETS, BUSINESS CYCLES, ECONOMIC SLOWDOWN, MONETARY POLICY, TAX ADMINISTRATION, CONTINGENT LIABILITIES, Public Sector Economics Public Sector Fiscal Adjustment Macroeconomics and Economic Growth - Fiscal Adjustment Macroeconomics and Economic Growth - Economic Stabilization Economic Theory and Research Public Sector Development, FISCAL DEFICITS, FISCAL GAP, GOVERNMENT DEBT, SECTOR INVESTMENT, FISCAL RULES, REDUCTION IN TAX, FISCAL BALANCE, FISCAL POLICY, CYCLICAL EFFECTS, TREASURY BILLS, PUBLIC SERVICE DELIVERY, FISCAL RULE, PUBLIC ENTERPRISES, DEBT RATIOS, GROWTH POTENTIAL, SOCIAL SECURITY, INCREASE IN EXPENDITURES, GDP PER CAPITA, PUBLIC SERVICE, CAPITAL STOCK, TAX REVENUE, ECONOMIC SHOCKS, FISCAL DEFICIT, GOVERNMENT EXPENDITURE, CENTRAL GOVERNMENT FISCAL, GOVERNMENT EXPENDITURE COMPOSITION, TAX, TAX POLICY, GOVERNMENT REVENUE, PRIVATE SECTOR, NATIONAL INCOME, TREASURY, FISCAL PERFORMANCE, PUBLIC SECTOR REFORM, TAXATION, PUBLIC SECTOR EMPLOYMENT, HEALTH SPENDING, TAX EXEMPTIONS, FISCAL INFORMATION, PUBLIC GOODS, PUBLIC INVESTMENTS, COMPETITIVENESS, FISCAL ACCOUNTS, BUDGET BALANCES, PUBLIC DEBT, FISCAL OPERATIONS, FISCAL POLICIES, FISCAL ADJUSTMENT, PUBLIC, EXPENDITURE CUTS, OPEN ECONOMY, INTERNATIONAL MONETARY FUND, DEBT MANAGEMENT, PUBLIC UTILITIES, ECONOMIC STRUCTURE, PUBLIC EXPENDITURES, MONETARY UNION, EXPENDITURE GROWTH, FISCAL SUSTAINABILITY, FISCAL FRAMEWORK, FINANCIAL MANAGEMENT, TAX REVENUES, CAPITAL EXPENDITURE, GOVERNMENT DEFICIT, BORROWING, FISCAL ISSUES, PUBLIC EXPENDITURE, REGULATORY FRAMEWORK, MONOPOLIES, PER CAPITA INCOMES
Despite high levels of per capita incomes and good social service provision, poverty remains a persistent problem in St. Kitts and Nevis. To improve competitiveness, restore rapid economic growth, and ensure its medium-term sustainability in the context of the currency union, the main challenges to the St. Kitts and Nevis government are to (a) tighten fiscal policy, notably through expenditure cuts; (b) increase the efficiency of public investments and public service delivery; (c) strengthen regulation and efficiency of public utilities and sea/air transport; and (d) promote education and skills development to prepare the population, notably the poor, to take advantage of new opportunities in the global environment. The report is organized as follows: Chapter 1 discusses fiscal sustainability in St. Kitts and Nevis and presents options for fiscal consolidation; Chapter 2 discusses the role of the business cycle in the design of fiscal policy by reviewing the cyclical components of the fiscal accounts; Chapter 3 discusses the budget management system in place and its effect on budgetary outcomes; Chapter 4 examines the Public Sector Investment Program; Chapter 5 discusses public sector employment and compensation; Chapters 6 and 7 examine public expenditures and outcomes in the education and health sectors; and Chapter 8, the final chapter, discusses social protection programs.
  • The results below are discovered through our pilot algorithms. Let us know how we are doing!

    • I1. EDUCATIOONUTCOMES INST.KITTS AND NEVIS.........................................................................
    • I11. USES OF EDUCATIOENXPENDITUREINSST. KITTSAND NEVIS1.994-2002 .................................
    • I1 COMPOSITION ANDEVOLUTIOONF SOCIAL PROTECTIONSPENDING INST.KITTS AND NEVIS1.996-2001 .......................................................................................................................
    • I11 SOCIAL PROTECTIONANDRISK MANAGEM EINNSTT.KITTS ANDNEVIS.................................
    • Table E.S. 1 Summary o f Policy Recommendations .............................................................................. xiv Table 1.1 Customs Revenue Forgone from Tax Concessions (as percentage o f GDP).......................... 13 Table 2.1 Long-Term GDP. Central Government Revenue. and Expenditure Growth Rates.
    • and Suggested Interventions ........................................................................................................ 103 Figure 5.2 Average Wage as a Percentageof GDP per capita. 2001 (Selected Caribbean Countries) .................................................................................................... 61 Figure 6.1 Share of Recurrent Health Expenditures in GDP. St. Kitts and Nevis 1995-2000 (percentage) ................................................................................................................................... 76 Figure 6.2 Share of Hospital Expenditures in Total Recurrent Health Expenditures. St.Kitts and Nevis 1995-2002 (percentage) ............................................................................................... 77 Figure 7.1 Gross Enrollment and Completion Rates in Primary Education in Caribbean Countries. 2001 (in percentage) ..................................................................................................... 82 Figure 7.2 Share of Education Expenditures in GDP. St.Kitts and Nevis 1994-2002 (as %) ............... 84 Figure 7.3 Education Expenditure in St. Kitts and Nevis 1994-2002 (millions of EC$ 95) ..................84 Figure 7.4 Share of Recurrent Education Expenditures in Recurrent Expenditures.
    • St.Kitts and Nevis 1994-2002 (as %) ........................................................................................... 85 Figure 7.5 St.Kitts and Nevis Recurrent Education Expenditures by subsector 1996-2002 (as % Total) ................................................................................................................................... 85 Figure 7.6 Pupil-Teacher Ratio and Costs of Education in St.Kitts and Nevis. 2000 (in US$) ...........89 Figure 7.7 Share of Trained Teachers in Primary and Secondary School. St.Kitts and Nevis.
    • 1999 (in percentage) ...................................................................................................................... 91 Figure 8.1 Social Protection Expenditures in St.Kitts and Nevis (percentage of GDP) ..................... 101 Figure 8.2 Social ProtectionExpenditures in St.Kitts and Nevis (millions of EC$ 95) ..................... 102 Box 1.1 The Convergence Criteria in the ECCU and WAEMU ........................................................... 10 Box 2.1 Chile's Fiscal Rule ................................................................................................................... 26 Box 3.1 Financing Expenditures 'Below the Line'. The Use of Advance and Deposits Accounts ......33 Box 4.1 Port Zante Cruise Ship dock .................................................................................................... 48 Box 5.1 Civil Service Downsizing in Guyana ....................................................................................... 58 Box 6.1 Strengthening the National HIV/AIDS Program over 2003 to 2007: The St. Kitts and Nevis HIV/AIDS Prevention and Control Project ........................................................................ 72 Box 7.1 Financing of Tertiary Education in Latin America and the Caribbean .................................... 87 Box 8.1 A Closer Look at the Social Assistance Program in St.Kitts ................................................ 100
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