[{"bbox": [97, 152, 1124, 202], "category": "Text", "text": "In conclusion, the authorities are pursuing a stability-oriented macroeconomic policy and the eligibility criterion is met."}, {"bbox": [85, 232, 437, 259], "category": "Section-header", "text": "### 2.3.4 Public Financial Management"}, {"bbox": [97, 273, 1134, 433], "category": "Text", "text": "The Bolivian PFM reform programme relies on the Action Plan to Improve Public Finance Management (PAMGFP), elaborated by the Ministry of Economy and Public Finance (MEPF) with EU technical assistance. The Action Plan identifies its priorities based on the government's strategic approach. It includes actions, indicators and results to be achieved during the period 2019 to 2020 expanded to 2021. The overall cumulative progress of the action plan reached 89%. During 2022, remaining activities will be concluded or disregarded, while a new reform plan is expected to be drafted."}, {"bbox": [97, 445, 545, 471], "category": "Section-header", "text": "#### Summary Appraisal PFM Progress and Reforms"}, {"bbox": [97, 484, 1134, 617], "category": "Text", "text": "Bolivia has made important progress in the management of public finances. Budget reliability improved, budgetary information use international standards, on-line systems for SOEs treasury registries and for public investment information are in place, financial assets are adequately monitored and a statistical bulletin on debt is published periodically. Furthermore, macro and fiscal forecasts, risk assessments, monetary scenarios and multiannual estimates are being used in the budgeting process."}, {"bbox": [97, 629, 1134, 762], "category": "Text", "text": "Predictability was improved by the use of on-line systems, arrears in the payment of expenses was reduced, a treasury liquidity management model was developed and digital signature was implemented, thus increasing control. The local accounting system is now compatible with the International Public Sector Accounting Standards (IPSAS). Additionally, the National Tax Service implemented a tax on large fortunes and the National Customs implemented a simplified customs system for international trade transactions."}, {"bbox": [97, 774, 1134, 907], "category": "Text", "text": "The MEFP assessed the public procurement system using the MAPS tool with IADB technical assistance, optimized the disbursement process using electronic payments, implemented the digital signature on financial statements, produced statistics complying with international standards using the IMF guidelines, reinforced its analysis and forecast capabilities related to the Medium-Term Fiscal Framework with IMF technical assistance, among others."}, {"bbox": [97, 920, 1134, 999], "category": "Text", "text": "Regarding the Action Plan to Improve Public Finance Management (PAMGFP), the Delegation considers it highly relevant since it represents the continuity of an effort that started in 2009 and demonstrated the willingness of the government to improve PFM."}, {"bbox": [97, 1012, 1134, 1118], "category": "Text", "text": "The EU Delegation commend the efforts of MEFP on improving the overall PFM process, but also recognizes the need of a continuity to preserve the gains obtained. In opinion of the Delegation, this continuity requires the elaboration of at least one of these: a new PEFA assessment, an action plan to improve PFM or an in-house PFM improvement strategy drafted by the MEFP."}, {"bbox": [97, 1130, 1134, 1210], "category": "Text", "text": "In conclusion, taking into account that a new PFM plan is expected to be drafted, the EU Delegation in Bolivia considers that progress by the authorities in the management of public finance systems is satisfactory, including domestic revenue mobilisation. Therefore the eligibility criterion is met."}, {"bbox": [85, 1236, 551, 1262], "category": "Section-header", "text": "### 2.3.5 Transparency and Oversight of the Budget"}, {"bbox": [97, 1278, 1134, 1384], "category": "Text", "text": "In terms of transparency and oversight of the budget, the government of Bolivia complies with the basic requirement concerning the entry point, since the 2021 and 2022 budgets were approved by all the required actors, enacted by the executive branch in due time and published on the web page of the MEFP for free access by the general public."}, {"bbox": [97, 1397, 1134, 1606], "category": "Text", "text": "According to the latest Open Budget Survey (2021), Bolivia's budget process ranks, in terms of transparency, among the weakest in the region with a score of 20/100 in 2020. However, a moderate improvement compared to 2019 was verified were the score was 12/100. The global average score is 45. Bolivia's ranking is 102 out of 120 countries. Bolivia has increased the availability of budget information by Publishing the Executive's Budget Proposal online but decreased the availability of budget information by reducing the information provided in the Year-End Report. Further progress is expected during 2022, thorough the EU funded project Strengthening Public Financial Management Through Open Budgets and Civic Participation implemented by the IBP and the local think-tank Fundación Jubileo."}, {"bbox": [1028, 1655, 1143, 1679], "category": "Page-footer", "text": "Page 12 of 35"}]