Infra-structure Study
Kuwait Fund for Eco-nomic Devel-opment
New road classification; new procedures for managing the road fund, including allocation of funds between road owners
Macroeconomic Stability
В· Preparation of indicative plans of development for the economy for 2004 and 2005
Ministry of Economy, In-dustry and Trade
Improvement of linkage between policy, resource constraints and budgets
Develop a more realistic medium-term budget framework
Public Expenditure Reviews, PRSC in High Case
IMF
DFID
Budget execution closer to planned
В· Initiate the process to convert a portion of government debt liabilities into long-term debt instruments
National Bank
Assistance to the MoF develop long-term debt instru-ments, e.g. gov-ernment bond market
MoF starts to use medium to long-term government bonds to replace the rolling of short-term debt instruments
Financial Sector Advi-sory Program
IMF
1-10 year government bond market in place
В· Improvement of the management of international reserves of the NBG
National Bank
Advise to National Bank on management of reserves
Increased import coverage
Financial Sector Advi-sory Program
IMF
Gross foreign reserves to reach over 2 months of imports
В· Completion of tax and customs administration reform
Ministry of Finance, State Tax and Customs Departments
Development of a business-friendly tax environment
Increased collection of excise taxes and improved VAT administration
Public Expenditure Reviews, Business Environment Study, PRSC in High Case
IMF USAID EU
Collection of excise taxes to reach over 2 percent of GDP
В· Implementation of treasury reform, centralization of treasury service; development and introduction of commitment accounting and control sys...
