Revenue Mobilization For A Resilient And Inclusive Recovery In The Middle East And Central Asia PDF Download
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Author | : Ms. Genevieve Verdier |
Publisher | : International Monetary Fund |
Total Pages | : 72 |
Release | : 2022-07-06 |
Genre | : Business & Economics |
ISBN | : |
Download Revenue Mobilization for a Resilient and Inclusive Recovery in the Middle East and Central Asia Book in PDF, ePub and Kindle
Domestic revenue mobilization has been a longstanding challenge for countries in the Middle East and Central Asia. Insufficient revenue has often constrained priority social and infrastructure spending, reducing countries’ ability to reach the Sustainable Development Goals, improve growth prospects, and address climate related challenges. Moreover, revenue shortfalls have often been compensated by large and sustained debt accumulation, raising vulnerabilities in some countries, and limiting fiscal space to address future shocks. The COVID-19 pandemic and the war in Ukraine have compounded challenges to sustainable public finances, underscoring the need for revenue mobilization efforts. The recent global crises have also exacerbated existing societal inequalities and highlighted the importance of raising revenues in an efficient and equitable manner. This paper examines the scope for additional tax revenue mobilization and discusses policies to gradually raise tax revenue while supporting resilient growth and inclusion in the Middle East and Central Asia. The paper’s main findings are that excluding hydrocarbon revenues, the region’s average tax intake lags those of other regions; the region’s fragile and conflict-affected states (FCS) face particular challenges in mobilizing tax revenue; In general, there is considerable scope to raise additional tax revenue; countries have made efforts to raise tax collection, but challenges remain; tax policy design, notably low tax rates and pervasive tax exemptions, is an important factor driving tax revenue shortfalls; weak tax compliance, reflecting both structural features and challenges in revenue administration, also plays a role; and personal income tax systems in the region vary in their progressivity—the extent to which the average tax rate increases with income—and in their ability to redistribute income. These findings provide insights for policy action to raise revenue while supporting resilient growth and inclusion. The paper’s analysis points to these priorities for the region to improve both efficiency and equity of tax systems: improving tax policy design to broaden the tax base and increase progressivity and redistributive capacity; strengthening revenue administration to improve compliance; and implementing structural reforms to incentivize tax compliance, formalization, and economic diversification.
Author | : Ms. Genevieve Verdier |
Publisher | : International Monetary Fund |
Total Pages | : 65 |
Release | : 2022-07-06 |
Genre | : Business & Economics |
ISBN | : |
Download Revenue Mobilization for a Resilient and Inclusive Recovery in the Middle East and Central Asia Book in PDF, ePub and Kindle
Domestic revenue mobilization has been a longstanding challenge for countries in the Middle East and Central Asia. Insufficient revenue has often constrained priority social and infrastructure spending, reducing countries’ ability to reach the Sustainable Development Goals, improve growth prospects, and address climate related challenges. Moreover, revenue shortfalls have often been compensated by large and sustained debt accumulation, raising vulnerabilities in some countries, and limiting fiscal space to address future shocks. The COVID-19 pandemic and the war in Ukraine have compounded challenges to sustainable public finances, underscoring the need for revenue mobilization efforts. The recent global crises have also exacerbated existing societal inequalities and highlighted the importance of raising revenues in an efficient and equitable manner. This paper examines the scope for additional tax revenue mobilization and discusses policies to gradually raise tax revenue while supporting resilient growth and inclusion in the Middle East and Central Asia. The paper’s main findings are that excluding hydrocarbon revenues, the region’s average tax intake lags those of other regions; the region’s fragile and conflict-affected states (FCS) face particular challenges in mobilizing tax revenue; In general, there is considerable scope to raise additional tax revenue; countries have made efforts to raise tax collection, but challenges remain; tax policy design, notably low tax rates and pervasive tax exemptions, is an important factor driving tax revenue shortfalls; weak tax compliance, reflecting both structural features and challenges in revenue administration, also plays a role; and personal income tax systems in the region vary in their progressivity—the extent to which the average tax rate increases with income—and in their ability to redistribute income. These findings provide insights for policy action to raise revenue while supporting resilient growth and inclusion. The paper’s analysis points to these priorities for the region to improve both efficiency and equity of tax systems: improving tax policy design to broaden the tax base and increase progressivity and redistributive capacity; strengthening revenue administration to improve compliance; and implementing structural reforms to incentivize tax compliance, formalization, and economic diversification.
Author | : International Monetary Fund. Fiscal Affairs Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 86 |
Release | : 2011-08-03 |
Genre | : Business & Economics |
ISBN | : 1498339247 |
Download Revenue Mobilization in Developing Countries Book in PDF, ePub and Kindle
The Fund has long played a lead role in supporting developing countries’ efforts to improve their revenue mobilization. This paper draws on that experience to review issues and good practice, and to assess prospects in this key area.
Author | : International Monetary Fund. Middle East and Central Asia Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 59 |
Release | : 2022-10-31 |
Genre | : Business & Economics |
ISBN | : |
Download Regional Economic Outlook: Middle East and Central Asia Book in PDF, ePub and Kindle
In a worsening global environment, economies in the Middle East and Central Asia are being buffeted by a confluence of shocks: a global slowdown, high and volatile food and energy prices, faster and stronger than expected tightening of financial conditions, and the risk of fragmentation. The region’s emerging market and middle-income economies (EM&MIs) and low-income countries (LICs) are hit hard, with many facing curtailed access to market financing, while oil-exporting countries are being buffered by still-high energy prices. The adverse impact of Russia’s war in Ukraine on the Caucasus and Central Asia (CCA) has thus far been milder than expected. Still, the CCA’s strong ties to Russia entail substantial risks to the region’s outlook. The most urgent policy challenge for all countries is to tackle the cost-of-living crisis by restoring price stability, protecting vulnerable groups through targeted support, and ensuring food security. Policy trade-offs in EM&MIs and LICs have become more pronounced than ever, as they also need to preserve debt sustainability and financial stability. Oil exporters have the opportunity to maximize the benefits of the oil windfall by building buffers and advancing their diversification plans. CCA countries should carefully assess the magnitude and durability of the initial spillovers from the war in Ukraine and adjust their policy mix accordingly. Limited policy space in many countries raises the urgency of structural reforms to bolster economic growth while transforming economies to become more resilient, sustainable, diversified, and inclusive.
Author | : Gladys Lopez-Acevedo |
Publisher | : World Bank Publications |
Total Pages | : 281 |
Release | : 2023-06-30 |
Genre | : Business & Economics |
ISBN | : 1464819890 |
Download Informality and Inclusive Growth in the Middle East and North Africa Book in PDF, ePub and Kindle
The long-standing informality debate in the Middle East and North Africa (MENA) Region has taken on a new urgency as it looks for a pathway to more socially inclusive growth that is less reliant on fossil fuels. This is occurring against a backdrop of subpar labor market outcomes, further growth setbacks, and deteriorating fiscal and current account deficits in the aftermath of the COVID-19 pandemic--and in the wake of high inflation and supply chain disruptions triggered by the Russian Federation-Ukraine war. 'Informality and Inclusive Growth in the Middle East and North Africa' aims to better understand the characteristics and incentive structure that have led to the prevalence of informal employment in three MENA countries--the Arab Republic of Egypt, Morocco, and Tunisia. The report breaks new ground by adopting a comprehensive perspective to focus on the features of, and interrelationships among, different aspects of these countries' institutional landscapes to make sense of the complex incentive structure that workers and firms face when deciding between formal and informal options. Specifically, the report groups these issues in three broad realms: (1) entrepreneur-worker relations, (2) taxes and transfers, and (3) market conditions. 'This report is an extremely welcome addition to the literature on MENA labor markets. By analyzing the incentive structure and institutional factors that have led to the prevalence of informal employment in Egypt, Morocco, and Tunisia, it points the way to policy actions that can be taken to reduce informality and increase social protection for workers. It is a must-read for anyone who cares about greater economic inclusion in MENA.' --Ragui Assaad, Professor, Hubert H. Humphrey School of Public Affairs, University of Minnesota 'A compelling account of the implications of informality in the workforce and how economies of MENA can design appropriate policy responses. This timely report comes amid multiple social reforms in MENA and is a must-read for policy practitioners and economists in the region.' --Karim El Aynaoui, Executive President, Policy Center for the New South 'This report is particularly timely given the negative impact the COVID-19 pandemic and subsequent crises have had on living standards and poverty rates around the world and especially in MENA countries. While the focus on boosting growth and achieving the Sustainable Development Goals has revolved around financing, the report sheds new light on the benefits that tackling informality through institutional, regulatory, and policy changes could present to achieving these goals.' --Mahmoud Mohieldin, Executive Director, International Monetary Fund
Author | : International Monetary Fund. Secretary's Department |
Publisher | : International Monetary Fund |
Total Pages | : 74 |
Release | : 2021-10-04 |
Genre | : Business & Economics |
ISBN | : 1513568817 |
Download International Monetary Fund Annual Report 2021 Book in PDF, ePub and Kindle
A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.
Author | : Aimee Hampel-Milagrosa |
Publisher | : Asian Development Bank |
Total Pages | : 216 |
Release | : 2020-08-01 |
Genre | : Business & Economics |
ISBN | : 9292623117 |
Download Azerbaijan: Moving Toward More Diversified, Resilient, and Inclusive Development Book in PDF, ePub and Kindle
Azerbaijan has set the course for the economy to reduce its dependence on oil by promoting new drivers of growth. By 2025, under the government’s Strategic Roads Maps, a more diversified economy should take shape led by three sectors: agriculture, tourism, and manufacturing. Bold reforms need to strengthen areas of the economy that could otherwise impede this transition, and policy makers must resolutely stay on the reform path. The core message of this publication is diversification toward non-oil sources of growth alongside efforts to reduce macroeconomic risks and the high cost of finance, make the education system responsive to the needs of the labor market, close infrastructure gaps, and help economically significant state-owned enterprises become more efficient.
Author | : Asian Development Bank |
Publisher | : Asian Development Bank |
Total Pages | : 262 |
Release | : 2023-04-01 |
Genre | : Business & Economics |
ISBN | : 9292701061 |
Download CAREC 2030: Supporting Regional Actions to Address Climate Change Book in PDF, ePub and Kindle
The report's overarching conclusion is that CAREC has a unique and urgent opportunity to chart a course of proactive, systematic, and strategic engagement in supporting its member countries in reinforcing, modifying, and implementing existing national strategies on climate change mitigation and adaptation, and in developing a range of regional actions in response to the regional nature of many climate change impacts and solutions.
Author | : National Intelligence Council |
Publisher | : Cosimo Reports |
Total Pages | : 158 |
Release | : 2021-03 |
Genre | : |
ISBN | : 9781646794973 |
Download Global Trends 2040 Book in PDF, ePub and Kindle
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Author | : Mario Mansour |
Publisher | : International Monetary Fund |
Total Pages | : 36 |
Release | : 2015-09-02 |
Genre | : Business & Economics |
ISBN | : 1513519751 |
Download Fair Taxation in the Middle East and North Africa Book in PDF, ePub and Kindle
Fairness – and what governments can do about it – is at the forefront of economic and social debate all over the world. In MENA, this has been at the core of recent political transitions but has not been adequately addressed. This SDN explores how tax systems – a critical interface between the state and citizens – can play a role in meeting demands for greater economic fairness in MENA countries. The SDN finds that for countries with well-established non-hydrocarbon tax systems (mostly oil importers) reforms should focus on simplifying tax structures and introducing more progressivity of personal income taxes, broadening tax bases, and better designing and enforcing property taxes. Tax administration should be more efficient and user-friendly while simplifying tax regimes will reduce the scope for arbitrary implementation. MENA countries with less established non-hydrocarbon revenue systems can begin with a “starter pack” that includes introduction of low-rate value-added and corporate income taxes, excises, and property taxes while building up administrative capacity and taxation expertise together with plans for introducing a personal income tax. Across the region, effective communication, transparency, and constructive dialogue between the State and citizens are critical to the success of reforms.