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International Monetary Fund. European Dept.
This Selected Issues paper on Kosovo discusses various challenges and opportunities in the public infrastructure domain. Given the very low initial stocks, largely due to the sharp depletion of capital stock during the conflicts in the 1990s, higher investment rates are needed. The resources available from international development partners, including the European Union (EU), the European Investment Bank and the European Bank for Reconstruction and Development, are a unique opportunity to leverage and accelerate the implementation of priority projects. Strengthening Kosovo’s investment framework is key to achieving this objective. Kosovo faces significant public infrastructure gaps, which constrain private sector development. Scaling-up public investment will raise gross domestic product growth potential and accelerate income convergence toward the EU average level. The priority project list has helped the authorities to prioritize plans and facilitate the discussions and negotiations with donors and International Financial Institutions (IFI). However, implementation so far has been modest, despite the new investment clause of the fiscal rule exempting IFI-financed projects from the deficit ceiling.
International Monetary Fund. European Dept.

rate in Europe. 3. Social benefit scheme outcomes underperform neighboring countries on most metrics, resulting in weak distributional outcomes for the amount spent . Low coverage and adequacy result in among the lowest inequality and poverty impacts of social benefits, despite Kosovo being one of the top spenders. Only 7 percent of benefits are targeted to the poor, while the remaining 93 percent are based on categorical targeting such as age or involvement in the war. Further, the design of existing policies with many schemes requiring beneficiaries to be

International Monetary Fund. Asia and Pacific Dept

-up through the NPCI and the State Governments are increasingly taking advantage of this critical expenditure reform to improve the targeting of their own entitlement and subsidy schemes. Outcome-Evaluation Framework : Last but not the least, all schemes and projects will now have a medium-term expenditure and outcome framework, which will be formulated in consultation with the Implementing Ministries and the NITI Aayog. This will be placed before the Parliament through a consolidated Outcome Budget each year. Each Scheme will have a start and a sunset date, coterminous

International Monetary Fund. Asia and Pacific Dept
This 2017 Article IV Consultation highlights strong growth recorded by the Indian economy in recent years helped by a large terms-of-trade gain and positive policy actions. Inflation has remained low following the collapse in global commodity prices, a range of supply-side measures, and a relatively tight monetary stance. Fiscal consolidation at the Union Government level resumed in FY2016/17 and has been complemented by measures to enhance the quality of public spending. Growth is projected to slow to 6.6 percent in FY2016/17 and then rebound to 7.2 percent in FY2017/18, owing to temporary disruptions, primarily to private consumption, caused by cash shortages.