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Cape Verde Enhancing Planning and Control to Increase Efficiency of Public Spending

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Cape Verde Enhancing Planning and Control to Increase Efficiency of Public Spending Report No. 44350-CV Public Disclosure Authorized Cape Verde Enhancing Planning and Control to Increase Efficiency of Public Spending Public Expenditure Review (In Two Volumes) Volume I: Synthesis February 2009 Public Disclosure Authorized PREM 4 Africa Region Public Disclosure Authorized Public Disclosure Authorized Document of the World Bank Currency Equivalent Exchange Rate Effective as of February 2009 Currency Unity = Escudo (CVE) US$1.00 = CVE 86.4 Fiscal Year January 1––December 31 ACRONYMS ADP Water Company of Portugal AGECABO Agency for Promotion of Employment and Local Development ANMCV National Association of Cape Verdean Municipalities AP Public Administration APR Annual Progress Report ARE Economic Regulatory Agency ARM Multisectoral Regulatory Agency ASA Empresa Nacional de Aeroportos e Segurança Aérea (parastatal that manages airports) BCA Atlantic Commercial Bank BCN Business Bank of Cape Verde BCV Bank of Cape Verde BIA Inter-Atlantic Bank BT Treasury Bill CFAA Country Financial Accountability Assessment CME Machinery and Equipment Center CPAR Country Procurement Assessment Review COFOG Classification of the Functions of Government of the United Nations CPI Consumer Price Index CVE Cape Verde Escudos DGCI General Directorate for Income Tax DGCP General Directorate for Public Accounting DGO Budget General Directorate DGP General Directorate for Planning DGPE Directorate General for State Assets DGPOC General Directorate for Planning, Budgeting and Management DGT Directorate General of the Treasury DSP Directorate for Payment Services EDP Electricity Company of Portugal ELECTRA Electricity and Water Company EMPROFAC National Company of Pharmaceutical Products ENACOL National Fuel Company of Cape Verde ENAPOR National Port Authority EU European Union FAIMO Labor-Intensive Public Works FBL Framework Budget Law FEF Financial Equilibrium Fund fob Freight on Board GDP Gross Domestic Product GEP Directorate of Studies and Planning GoCV Government of Cape Verde HC Hidden cost ICAO International Civil Aeronautics Organization IGF General Inspectorate for Finances IMF International Monetary Fund INE National Statistics Institute i INFA National Institute of Financial Support to Agribusiness INPS National Institute for Social Protection INTERBASE Company for Sea Products Commercialization INTOSAI International Organization of Supreme Audit Institutions IPSAN International Public Sector Accounting Norms IT Information Technology MDG Millennium Development Goal ME Ministry of Education MFA Ministry of Foreign Affairs MFAP Ministry of Finance and Public Administration MH Ministry of Health MIT Ministry of Infrastructure and Transport MITM Infrastructure, Transport and Maritime Affairs MJIA Ministry of Justice and Internal Administration MFF Municipal Finance Fund MTEF Medium-Term Expenditure Framework NDP National Development Plan NIF Tax Identification Number NOSI Operational Nucleus for Information Systems O&M Operation and maintenance OECD Organisation for Economic Co-operation and Development PETROGAL Petroleum Company of Portugal PIP Public Investment Program PIS Public Investment System PNCP Chart of Accounts (Plano Nacional de Contabilidade Pública) PRGF Poverty Reduction and Growth Facility PROMOTORA Venture Capital Stock Corporation PRSC Poverty Reduction Support Credit PSI Policy-Support Instrument QUIBB Questionário Unificado de Indicadores de Bem-Estar (Unified Survey of Well Being Baseline Indicators) RMF Road Maintenance Fund SDR Special Drawing Rights SIGOF Financial Management Integrated System SOE State-owned Enterprise SONANGOL National Fuel Society of Angola STAD Secretariado Técnico de Apoio ao Desenvolvimento (Technical Secretariat for Development Support) STASCO Shell International Trading and Shipping Company Limited TACV Airlines of Cape Verde TdC Tribunal de Contas (Court of Accounts) TRANSCOR Private Company of Municipal Transportation US-MCC US Millennium Challenge Account VAT Value-added Tax WTO World Trade Organization Vice President: Obiageli K. Ezekwesili (AFRVP) Country Director: Habib M. Fetini (AFCF1) Sector Director: Sudhir Shetty (AFTPM) Sector Manager: Antonella Bassani (AFTP4) Task Team Leader: Manuela Francisco (AFTP4) ii CONTENTS Introduction ............................................................................................................................... 1 Macroeconomic Background .................................................................................................... 2 Fiscal Performance.................................................................................................................... 3 Public Finance Management ..................................................................................................... 7 Decentralization ...................................................................................................................... 12 Infrastructure ........................................................................................................................... 14 Table 1: Summary of the Recommended Reform Measures in PER FY06 ................................ 18 Table 2: Summary of Recommendations PER FY08 .................................................................. 19 Annex 1: Matrix of the Issues / Recommendations ..................................................................... 20 i This PER Update was jointly prepared by the World Bank and the Cape Verdean Government. The World Bank team consisted of Manuela Francisco (TTL, AFPT4), Hélène Grandvoinnet (AFTPR), Daniel Benitez (FEU), Cecilia Briceno-Garmendia (AFTSN), Mafalda Duarte (EASPR), Hélio Tollini (Consultant, advisor of the Brazilian House of Representatives Budget Office), and Judite Fernandes (AFTP4). The Working Group within the Cape Verdean Government was under the responsibility of Celina Cruz (Head, Budget Monitoring Unit), Claudino Semedo (Budget Director), and António Pires (Economist, General Director of Planning). The working group included José Roberto (Advisor to the Brazilian Federal Budget Secretary), Paulo Feijó (Consultant, Brazilian Budget Association), and José Macamo Correia (Consultant, UNDP, Mozambique). José Roberto, Paulo Feijó, and José Macamo Correia were financed through the PRSP TF. The report was prepared under the supervision of Antonella Bassani, Sector Manager (AFTP4), who offered conceptual guidance, provided critical analytical advice, and ensured quality control and management support. From the Country Management Unit, Madani Tall (Country Director), Iradj Alikhani (Country Program Coordinator), and Joelle Dehasse (Senior Operations Officer), supported the overall process and the engagement with the authorities and provided valuable guidance on policy issues. The report benefited from comments and discussions with sectoral colleagues, particularly Kavita Sethi (AFTTR), Fernando Lecaros (LCSEG), Kai-Alexander Kaiser (PRMPS), Sherri Archondo (AFTFP), and Soukeyna Kane (AFTFM). The report also benefited from discussions with the IMF team: Maitland MacFarlan, Lamin Leigh, Nils Maehle, Eduardo Castro, and Marcio Ronci. Celina Cruz (Head, Budget Monitoring Unit) provided excellent support to the missions. The Report also benefited from comments from participants in the PER Workshop which took place in Praia in August 2008. ii 1. Following a decade of robust growth and prudent macroeconomic policies, Cape Verde graduated to middle income status in January 2008. A key challenge facing the country going forward is how to sustain its high economic growth and dynamism in a context of a possible decline in concessional aid and remittances, increasing income inequality and island disparities, and full reliance on oil imports. These challenges highlight the importance of: (i) enhancing public financial management systems to improve efficiency and effectiveness in the use of public resources at large; (ii) strengthening fiscal decentralization mechanisms and accountabilities to meet local needs and address regional disparities; and (iii) addressing growing infrastructure needs resulting from the booming tourism sector. 2. A Public Expenditure Review Update was conducted in 2006 which highlighted: (i) the large and increasing weight of non-discretionary expenditures in the total budget; (ii) the importance of improving coordination among the various planning instruments; (iii) the need to strengthen public finance management; (iv) the fiscal risks that emerge from the energy sector; and (v) the need to further progress with the pension reform. During 2006-07 the Government implemented several of the 2006 PER Update recommendations. These include debt and exchange rate management, clearance of arrears, and some public finance management reforms, while slower progress was made in addressing tariff related issues and pension reform (see Table 1 for a list of 2006 PER Update recommendations and their status of implementation). 3. Building on the findings of the 2006 PER Update, in mid 2007 the Government and the World Bank decided to prepare jointly an updated PER that would inform the preparation of the second Growth and Poverty Reduction Strategy Paper (GPRSP-2) and the CAS. The objectives of the PER were to: (i) examine recent macro and fiscal developments (chapter 1 and 2); (ii) provide an update of the strengths and shortcomings of the public finance management system, following the recent reforms implemented in this area and the new emerging challenges (chapter 3); (iii) conduct an analysis of the fiscal decentralization
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