EC FISCAL CONSOLIDATION AND COMPETITIVE GROWTH ADJUSTMENT LOAN

closed

Closed

The Fiscal Consolidation And Competitive Growth Adjustment Loan Project (FCCGL) will provide initial World Bank support to the country's fiscal adjustment and structural reform agenda. The main objectives are to bring fiscal sustainability, reinitiate structural reforms to provide a sustained recovery with enhanced competitiveness, and mitigate the impact of adjustment on priority social investment that protects vulnerable groups. This fiscal support will help solve the severe short-term liquidity problem, and create fiscal room for smoothing the social costs of adjustment. The loan is based on structural reform measures that have been implemented by the Government prior to Board presentation. The project covers two areas: fiscal consolidation, and faster growth with competitiveness. Under the first area, the following components are considered: overall fiscal framework, revenue management, public expenditure management, public payroll control, and public debt. Under the second area, the following components are included: competition and trade policies, pricing and regulatory policies of basic infrastructure services for growth, and labor market flexibility.

FY17 - Energy and Extractives

World Bank Group

Project

Government