{
  "title": "Union of Comoros: Selected Issues",
  "publication": "IMF Staff Country Reports, December 22, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/union-of-comoros-selected-issues-44489",
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  "summary": "This Selected Issues paper assesses the main fiscal trends of the Comorian economy over 2005–15. It highlights continued difficulties in the fiscal performance of and the outlook for Comoros as a result of systemic challenges in revenue administration and public financial management.",
  "publishDate": "2016-12-22",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Executive summary and main findings",
      "content": "- The paper assesses the main fiscal trends of the Comorian economy over 2005–15.\n- Continued difficulties in fiscal performance and the outlook stem from systemic challenges in revenue administration and public financial management.\n- There is a structural imbalance between domestic resource mobilization and current spending, especially on public wages and salaries.\n- This imbalance leaves little scope for domestically financed capital spending, which is essential for economic growth and social development.\n- The fiscal imbalance in Comoros is more pronounced than in similar sub-Saharan African countries, even after taking into account sizable one-off budget grants that benefited the Comorian economy."
    },
    {
      "heading": "Policy implications and priorities",
      "content": "- Strengthen revenue administration to increase domestic resource mobilization.\n- Improve public financial management to better align current spending with available domestic resources.\n- Contain the wage bill in Comoros to free fiscal space for domestically financed capital spending.\n- Prioritize measures that enhance the fiscal capacity to finance growth-enhancing and social-development capital projects domestically."
    },
    {
      "heading": "Thematic subjects and keywords",
      "content": "- Subject: Financial inclusion, Financial institutions, Financial markets, Financial services, Loans, Nonperforming loans, Revenue administration\n- Keywords: bill, budget grant, Comoros' average, Comoros' effort, CR, E. government expenditure, Financial inclusion, financial institution, grant, ISCR, Loans, market imperfection, Nonperforming loans, spending, SSA frontier market, Sub-Saharan Africa, wage bill in Comoros\n\nInternational Monetary Fund. Union of Comoros: Selected Issues (IMF Staff Country Reports 2016, No. 394).\n\n---\n\n Content in this bundle\n\n- Union of Comoros: Selected Issues; IMF Country Report No. 16/394, November 22, 2016\n  - Union of Comoros: Selected Issues; IMF Country Report No. 16/394, November 22, 2016 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Union of Comoros: Selected Issues; IMF Country Report No. 16/394, November 22, 2016 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/union-of-comoros-selected-issues-44489"
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    "Published: December 22, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475562774.002",
    "The paper assesses the main fiscal trends of the Comorian economy over 2005–15.",
    "Continued difficulties in fiscal performance and the outlook stem from systemic challenges in revenue administration and public financial management.",
    "There is a structural imbalance between domestic resource mobilization and current spending, especially on public wages and salaries.",
    "This imbalance leaves little scope for domestically financed capital spending, which is essential for economic growth and social development.",
    "The fiscal imbalance in Comoros is more pronounced than in similar sub-Saharan African countries, even after taking into account sizable one-off budget grants that benefited the Comorian economy.",
    "Strengthen revenue administration to increase domestic resource mobilization.",
    "Improve public financial management to better align current spending with available domestic resources.",
    "Contain the wage bill in Comoros to free fiscal space for domestically financed capital spending.",
    "Prioritize measures that enhance the fiscal capacity to finance growth-enhancing and social-development capital projects domestically.",
    "Subject: Financial inclusion, Financial institutions, Financial markets, Financial services, Loans, Nonperforming loans, Revenue administration",
    "Keywords: bill, budget grant, Comoros' average, Comoros' effort, CR, E. government expenditure, Financial inclusion, financial institution, grant, ISCR, Loans, market imperfection, Nonperforming loans, spending, SSA frontier market, Sub-Saharan Africa, wage bill in Comoros",
    "**Union of Comoros: Selected Issues; IMF Country Report No. 16/394, November 22, 2016**"
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