World Bank: Review of public expenditure and Budget Policy

The World Bank’s representative office in Madagascar held on October 20 a new session of its conferences and thematic debates called “Dialogue for Development”. It focused on the World Bank’s report regarding the Review of Public Expenditure and the conduct of Budget Policy after two years of crisis in Madagascar.

While the Malagasy government managed to keep the balance of its public finances and its principal financial variables during the two years of political crisis, “such success is now heading toward a decline of nearly 25% of public expenditure, which merely counts, as for today, more than 10 to 12% of the Gross Domestic Product or 6 to 7% of all economic activities of the country”, noted Jacques Morisset, Lead Economist in the World Bank.