In a well-functioning parliamentary system, the state budget is overseen by a group of elected authorities in a relatively transparent manner. No one person has the power to shape the process in self-serving ways. Embedding checks and balances into governance – particularly to limit the executive’s discretionary budgetary authority – is integral to accomplish the kind of structural transformation developing countries need if they are to create more stable, prosperous futures well beyond 2030. By Tania Masi, Roberto Ricciuti, Antonio Savoia, and Kunal Sen.
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Results for GDP
Tuesday 23 July 2019
Manchester, United Kingdom
Thursday 6 June 2019
In the Pacific, a major disaster can slow the country’s gross domestic product by 1-2 percent, according to an Asian Development Bank Report titled, GDP tragedy: Preventing natural hazards from turning into economic disasters.
Thursday 23 June 2016
In its latest state of the economy report, the International Monetary Fund (IMF) has called on Tonga to improve its debt management, make broader reforms to increase revenue, and to effectively manage public spending. In the IMF's 2016 Article IV report released this week, Tonga was also encouraged to continue to seek concessional and grant financing for the South Pacific Games, while the report welcomed Tonga's efforts in curbing the wage bill and avoiding cost overruns. It urged Tonga to provide more opportunities for private sector development.
Thursday 21 June 2012
Rio de Janeiro, Brazil
"Equity, dignity, happiness, sustainability – these are all fundamental to our lives but absent in the GDP," Helen Clark said today. "Progress needs to be defined and measured in a way which accounts for the broader picture of human development and its context."