“Faced with the moment that our countries and the world are experiencing in order to rediscover the path of post-pandemic recovery, it is no small challenge for the authorities, especially the budgetary authorities, to deal with the assessment of the quality of spending,” he pointed out. Minister of Economy and Finance, Héctor Alexander at the inauguration of the 20th meeting of the budget network by Results of Latin America and the Caribbean.
He Minister Aleksandar He confirmed that for formulating proposals that improve public policies, this is the right option to strengthen performance in our countries, given the fiscal space faced by governments in the region.
for his part, Teodora Recalde, President of the Network of Budget Directors for Results in Latin America and the Caribbeanhe pointed out that the responsibility of focusing on budget results implies the gradual consolidation of a flexible and creative model of public management, which gives greater freedom of decision-making and resource management.
In that sense, recall He added that “we have come a long way and to continue growing we must create a favorable environment that guarantees integrity, that determines the emergence of a public culture oriented to results and programming to ensure that the distribution of resources is in line with national priorities and social demands”.
On the other side, German Zappanihead of operations of the Inter-American Development Bank (IDB), pointed out that the development agenda of the countries Latin America and the Caribbean and the world in general, after the post-pandemic phase is marked by the need for growth with capital, an area where fiscal issues are fundamental, and within this agenda the importance of budgeting for results is highlighted in order to achieve better management of public spending. .
Zappani pointed out that “in a region which according to the analysis organism there are major inefficiencies in the management of spending that represents approximately 4.5 points of GDP, and we also face huge gaps in the allocation of resources for priority programs for the state.”
However, as far as methodology is concerned Results-based budgetingbudget director Carlos González explained that there are developments in the countries of the region and that the agenda of the meeting, in addition to the exchange of experiences in the implementation of the methodology, also includes issues such as the designation of capital policies, gender policy and climate change”.
Some of the topics discussed at the meeting, which brings together directors and senior officials responsible for the budget process from 19 countries in the region, are: Strengths and challenges Results-based budgeting in improving government performance in a post-pandemic context, improving public spending through technology and information and budgeting for results in the region, experiences of gender mainstreaming in budgeting, among others.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
