FISCAL POLICY AND BUDGET PROCESS-VANUATU · · 2019-11-19FISCAL POLICY AND BUDGET PROCESS-VANUATU...
Transcript of FISCAL POLICY AND BUDGET PROCESS-VANUATU · · 2019-11-19FISCAL POLICY AND BUDGET PROCESS-VANUATU...
FISCAL POLICY AND BUDGET
PROCESS-VANUATU Wenny Tarikelana
Department of Finance and Treasury
Ministry of Finance and Economics Management
CONTENTS
Introduction
National Sustainable Development Plans
Integration of SDGs into the NSDP-Fiscal
Policy (examples)
Budget Process
Budget Policy Statement
Conclusion
INTRODUCTION
Vanuatu- small island nation in the South Pacific that is
import oriented
GDP growth forecast to be at 3.4 per cent in 2019
Vanuatu’s most recent national plan “PAA-Priorities
and Action Agenda 2006-2015” delivering a just,
educated, healthy and wealthy Vanuatu
Looking ahead the Government of Vanuatu launched
its national plan “NSDP-National Sustainable
Development Plan 2016-2030”
NATIONAL SUSTAINABLE DEVELOPMENT
PLANS (NSDP) 2016-2030
Our culture, traditional knowledge and Christian principles are the foundation of the People’s Plan 2030, which focuses on improving the wellbeing of our people (society); protecting and enhancing our place (environment) and maximising opportunities for shared prosperity (economy)
NSDP Cont.d
The SDGs is being localized into the NSDP
3 pillars, 98 policy objectives, 196 indicators
and 205 targets
17 SDG goals and around 122 SDG indicators
are captured into the NSDP and M&E
Framework
Source: Vanuatu People’s Plan
INTEGRATION OF SDGs INTO FISCAL
POLICY
Vanuatu’s financial year, and thus the budget cycle,
runs from January to December
Source: National Planning Framework 2019
Example 1: Sector Policies:mVanuatu
Agriculture Sector Policy & Fisheries
Sector Policy (5yrs and above)
This policy contributed to the NSDP & linked to global
level in terms of guidance to achieve certain SDGs
objectives, from sector policy mandated then
corporate plans
Example 2: Corporate plans:Ministry of Education
and Training Corporate plan (3 years)
BUDGET PROCESS Vanuatu’s financial year runs from January to December
Source: Department of Finance and Treasury
BUDGET POLICY STATEMENTBudget policy statements aid in budget allocation,
each year there focused on 7 policy outcomes for one
financial year
There are also New Policy Proposals (NPP) apart from
the Policy Priorities applied from line Ministries
Example 3:
CONCLUSION
Vanuatu is in its early implementation stage of
the NSDP aligning to SDGs
MTEF is one of the current objective for the
Ministry of Finance and Economics Management
in Vanuatu
Implementation framework plans launched will
continue to strengthen the implementation of the
NSDP