Budgeting of DGTF responsibilities for DGTF provides inputs and Regular contribution to budget para-statal SOE/Agencies budgeting clearance to DGB on N+1 budget preparation of SOEs/Agencies. organizations adopted. for SOEs and Agencies. Dividend policy defined and DGTF provides inputs and enforced. clearance to DGB on subsidies and other transfers to para-statal organizations (SOEs and public agencies). Fiscal Risk Fiscal monitoring Available consolidated Effective fiscal monitoring of Monitoring methodology defined and adopted portfolio report on aggregate SOEs/Agencies. by the DGTF. fiscal risk for SOEs and Agencies Outstanding cross-debts prepared by the DGTF. settled. Analysis of existing SOEs Preparation of annual cross-debts initiated by the consolidated SOEs/Agencies DGTF. portfolio fiscal risk report. Consider establishing clearer Quantification of contingent fiscal rules that create incentives liabilities. for monitoring of SOE finances, such as deficit targets including SOEs. OTHER GOVERNANCE DIMENSIONS Development Procedures are defined for Training to DGTF staff in DGTF works jointly with and of advisory role coordination between DGTF and design and monitoring of provides support to Sector in performance Sector Ministries. performance agreements. Ministries in the preparation of monitoring of SOEs/Agencies performance DGTF agreements. Adoption of performance agreements is generalized for major SOEs and Public Agencies. Legal Detailed legal review 1990 Ordinance updated. Comprehensive legal Framework for conducted on the basis of framework defining financial
Budgeting of para-statal organizations DGTF responsibilities for SOE/Agencies budgeting adopted. DGTF provides inputs and clearance to DGB on N+1 budget for SOEs and Agencies. DGTF provides inputs and clearance to DGB on subsidies and other transfers to para-statal organizations (SOEs and public agencies). Regular contribution to budget preparation of SOEs/Agencies. Dividend policy defined and enforced. Fiscal Risk Monitoring Fiscal monitoring methodology defined and adopted by the DGTF. Available consolidated portfolio report on aggregate fiscal risk for SOEs and Agencies prepared by the DGTF. Analysis of existing SOEs cross-debts initiated by the DGTF. Consider establishing clearer fiscal rules that create incentives for monitoring of SOE finances, such as deficit targets including SOEs. Effective fiscal monitoring of SOEs/Agencies. Outstanding cross-debts settled. Preparation of annual consolidated SOEs/Agencies portfolio fiscal risk report. Quantification of contingent liabilities. OTHER GOVERNANCE DIMENSIONS Development of advisory role in performance monitoring of DGTF Procedures are defined for coordination between DGTF and Sector Ministries. Training to DGTF staff in design and monitoring of performance agreements. DGTF works jointly with and provides support to Sector Ministries in the preparation of SOEs/Agencies performance agreements. Adoption of performance agreements is generalized for major SOEs and Public Agencies. Legal Framework for Detailed legal review conducted on the basis of 1990 Ordinance updated. Comprehensive legal framework defining financial
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