Consistent reforms in Indonesia’s public financial management have led to a stronger fiscal framework and system for budget execution, says the latest Public Expenditure and Financial Accountability assessment (PEFA) report for Indonesia, launched by the Minister of Finance today. The launch provides a platform for a public dialogue on the state of public financial management in Indonesia and the government’s direction for future reform efforts.
Indonesia has made significant gains in the preparation, reporting, and execution of the national budget, with higher scores for transparency of public finances, policy-based fiscal strategy and budgeting, better control in budget execution, and accounting and reporting, according to the report, which was prepared by the government of Indonesia with support from the World Bank and international development partners.
“We continue to carry out critical reforms in public financial management, and these reforms are leading to results. A significant result is reflected in the achievement of an unqualified audit opinion from BPK in 2016. We are confident that further reforms will lead to a better value for money through stronger public finances and improved service delivery,” said Minister Sri Mulyani Indrawati from the Ministry of Finance.
Amongst the mechanisms which have led to stronger public finance in Indonesia are instruments now in place that enable more prudent fiscal management and control of budget execution. Fiscal rules, including restrictions on the budget deficit and outstanding debt, are effectively adhered to.
“Collecting more and spending better is integral to Indonesia’s efforts to enhance its public services and deliver more inclusive and sustainable development,” said Rodrigo A. Chaves, World Bank Country Director for Indonesia and Timor-Leste. “The World Bank looks forward to supporting further reforms in public financial management.”
The PEFA assessment covers institutions receiving budget allocations from the central government budget, including line ministries and agencies, public corporations, as well as local governments (through the central government transfers). This PEFA report covers the fiscal years from 2014 until 2016.
“This PEFA assessment provides important insights on Indonesia’s reforms in public financial management, and enables us to identify gaps and opportunities for further progress. Canada is delighted to see how the reforms undertaken to date by the government of Indonesia are developing a solid platform for improved quality of financial reporting and oversight, which will enhance transparency and accountability,” said Peter MacArthur, Ambassador of Canada to Indonesia.
PEFA is an international methodology for assessing public financial management performance. It provides a framework for assessing and reporting on the strengths and weaknesses of public financial management, using quantitative indicators to measure performance.
“We congratulate Indonesia for undertaking the PEFA 2017. The report demonstrates Indonesia’s willingness to further improve the management of its public finances as shown with the alignment of PFM instruments and system with international standards. The EU will continue to support the public financial reform agenda of the Government,” said Vincent Guérend, Ambassador of the European Union to Indonesia and Brunei Darussalam.
Indonesia’s reforms in public financial management are multi-faceted and includes also improvements in the flow of information. In 2015, Indonesia rolled out a system for managing financial management information that ensures more efficiency and accountability of the government’s financial transactions.
“Switzerland welcomes the successful execution of the PEFA. This report provides an important framework for prioritizing the next wave of reforms and we look forward to the follow-up reform actions by the government of Indonesia,” said Yvonne Baumann, Ambassador of Switzerland to Indonesia.
Digital Technology Will Help Djibouti Leap into the Future
Digital technology will have a critical part to play in boosting Djibouti’s socio-economic development and meeting the ambitious goals set out in its national strategy, Vision Djibouti 2035. As a key step toward building a strong, inclusive digital economy, the Government of Djibouti and the World Bank are co-hosting a high-level event that will explore the potential benefits of digital development and propose a concrete roadmap of action.
“Disruptive technologies are creating new business models, opening up new markets, and giving consumers access to more products and services than ever before. It is hard to overstate the economic potential of these transformations,” said Ilyas Moussa Dawaleh, Djibouti’s Ministry of Economy and Finance. “In a country like ours, developing a high-performing digital ecosystem will provide a unique chance to stimulate the economy and create jobs. The Digital Economy conference starting today will bring us one step closer to this vision.”
“The digital sector will be key to improving the lives of Djiboutian people, expanding our economy, and strengthening our position as a logistics and commercial hub. With eight submarine cable landing on our shores, there is no doubt Djibouti has what it takes to become a digital leader in the region,” noted Abdi Youssouf Sougueh, Minister of Communications. “We are keen to bring in development partners like the World Bank to leverage this infrastructure to the fullest and reinforce all the other fundamentals that are necessary to nurture a vibrant digital economy.”
The conference will bring together a wide range of government representatives, technology pioneers, and development partners. Building on this uniquely diverse combination of knowledge and global perspectives, participants will assess Djibouti’s digital landscape, share international best practices, discuss how technology can help modernize all sectors of the economy, and outline a clear strategy and action plan for digital development in the country.
“Countries around the world are leveraging digital innovation to accelerate economic growth and build a better future for people, and Djibouti is very well positioned to gain from that approach,” said Boutheina Guermazi, World Bank Director for Digital Development. “I am confident this event will pave the way for close collaboration on digital development between the Word Bank, Djibouti, and countries across the Middle East and Africa.”
In addition to discussing Djibouti’s opportunities and challenges, the event will also highlight the need for bolder action on digital development engagement across the region.
Sessions will cover all key dimensions of digital development, with a focus on how to strengthen the five pillars of the digital economy: digital infrastructure; innovation and entrepreneurship; digital financial services and identification; digital platforms; and digital literacy and skills.
“Technological innovation holds great promise for Djibouti. By harnessing the full power of the digital economy, the country could see significant GDP growth, create a future-proof labor market, and raise living standards for all segments of the population. We stand ready to work hand in hand with Djibouti on this journey, to help create the right conditions for a thriving digital sector,” said Atou Seck, World Bank Resident Representative in Djibouti.
The first shopping tourism project in Mexico
The World Tourism Organization (UNWTO) and the Municipality of León (Guanajuato, Mexico) have signed an agreement to carry out the country’s first project to develop Shopping Tourism, with the support of the Ministry of Tourism of the State of Guanajuato.
The project is expected to serve as an international reference point and as a showcase at major tourism forums.
The Tourism Observatory of the State of Guanajuato has been a member of the UNWTO International Network of Sustainable Tourism Observatories since 2014. At the World Tourism Organization’s General Assembly held in Medellín, Colombia, in September 2015, Guanajuato expressed its interest in being one of the destinations to develop a project on shopping tourism, and León was the selected destination in light of the fact that 27% of its tourists visit the city to go shopping.
The World Tourism Organization (UNWTO) is the United Nations agency responsible for the promotion of responsible, sustainable and universally accessible tourism.
The project will help León (Guanajuato, Mexico) to develop innovative shopping tourism offerings that link the public and private sectors and that highlight the destination’s tourism attractions and products as well as tourism’s contribution to socio-economic development, which includes the creation of jobs directly in the tourism sector and in the many activities related to the sector.
Smart city matchmaking in Barcelona
This year’s Smart City Expo World Congress (SCEWC), Europe’s biggest Smart City related event, takes place from 13 to 15 November in Barcelona and will, like previous editions, attract several thousand stakeholders.
During the congress, on November 14, the Smart Cities Innovation Partnership on Smart Cities (EIP-SCC) will organise its next matchmaking event, seeking to bring projects and investors together to stimulate action. It is especially tailored to match individual projects with financing.
To take part, stakeholders must register on the matchmaking platform where they will join other cities, industry and financial players. Registered users need to submit short descriptions of their upcoming projects. A dedicated team will then process and match them with financiers’ interests, leading to one-to-one meetings, organised specifically and individually for them and their projects.
Should participation in above-mentioned event not be possible, the matchmaking platform will remain available also after the Barcelona congress, as the EIP-SCC will organise further matchmaking events in the future.
In addition, there will be an exhibition stand, where interested stakeholders can meet any of the 12 Horizon 2020 Lighthouse projects (representing € 270 million of EU funding), experts from the EIP-SCC, the Smart Cities Information System, as well as the European Commission.
Finally, there will be a number of sessions organised at the mentioned exhibition stand as part of the SCEWC programme covering a wide range of Smart City related topics. The full programme is available at http://www.smartcityexpo.com/en/agenda-2018.
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