Reconsidering our national fiscal strategy
A new civil society initiative within the framework of the Lebanese National Development Plan
Foreword
At a time when claims and counter claims for a reform of Lebanon’s fiscal system are abounding and when some ominous signs of social protests and demonstrations loom on the horizon, our leaders would be well advised to carefully reappraise their current fiscal strategy.The project that we propose to your attention essentially aims at reforming, not the fiscal system per se, but the mindset of the leaders of opinion and their approach to fiscal policy and fiscal control.
In this report to the donors we try to answer the following questions:
- What is the project that we advocate?
- Why do we support it and what end results (tangible as well as intangible) the project is expected to serve upon its implementation?
- Who will participate in the study project?
- How should it be undertaken?
- How much will the study cost?
- When will it start and end, and according to which time agenda?
A. Introducing The Lebanese National Development Plan
The Lebanese National Development Plan, entitled Transforming Lebanon – a collaborative approach by the State and the citizens to improve governance, is intended to set out the roadmap to Lebanon’s future. The Plan represents a major milestone in building a prosperous Lebanon for all the people, characterized by sustainable economic growth and greater social inclusion.
An original feature of the project calls for the direct participation of the parliamentary commissions and some selected representatives from civil society in the elaboration and the build-up of the Plan. This initiative is intended to promote all round transparency and accountability.
Plan’s background
The proposed Lebanese National Economic Development Plan draws some of its features from the NDP plan of Ireland, because we recognized from the outset some striking similarities between the two countries.
Lebanon, like Ireland, got out of a lengthy and ruinous civil war among its warring parties and is finally showing signs of coming to terms with the necessity for all to live together and overlook their differences or even take advantage of them. The basic characteristics, if not the size, of Ireland’s economy bear a lot of resemblance to Lebanon’s own. Finally, Ireland has, like Lebanon, a small indigenous population, but a large Diaspora, whose remittances contribute to support the public treasury.
The difference between the two countries lies in the fact that, as soon as the civil war ended in their country, the Irish went on to build up their Plan and proceeded to implement it. Twenty years after the Taef accords it is high time for Lebanon to finally take the bull by the horns and follow suit,
The Objectives of the Lebanese National Economic Development Plan
The Lebanese National Development Plan has six main objectives:
• To lay down the foundations of a measured, effective, and fair fiscal strategy.
• To carry on a sustainable national economic and employment growth policy.
• To plan for a measured development of the country’s infrastructure.
• To promote Social Inclusion.
• To consider a new approach to public debt containment.
• To review and agree upon a clear privatization strategy.
Other important subjects that are considered in the Plan include the financial and the monetary policies that will be advocated, the implementation of the recommendations adopted at the Paris III conference, and an evaluation of the prospects of the latest oil and gas discoveries along the shores of Lebanon.
In all, the entire National Development Plan will cover twenty-six different but, at the same time, interdependent topics. The study of the entire Plan is expected to last one year.
Our current project will deal in depth with the first aspect of the National Plan, the fiscal strategy of the state, and its proposed implementation.
B. Associating the citizens to the reform of the fiscal process
The country’s present financial situation is somewhat worrying. From 2004 to 2008 the annual public expenditure has risen by 42% while public revenue has only grown by 39%.
It is anticipated that, if no major reforms are soon introduced and implemented, our public debt will probably reach eighty billion US dollars by the end of 2016.
The service of the debt currently grows every year by some five per cent. It drains away the State’s financial resources, and prevents the Authorities from undertaking any major infrastructure project. Even the funds for running routine maintenance are hard to find. In most instances our infrastructure policy is left to the goodwill of the foreign donators while the country is satisfied to live on a day to day basis with little thought about the future.
So what is the solution and how should we reconsider our fiscal strategy and the fiscal policy that will ensue?
In our opinion our approach to fiscal problems in Lebanon should be considered in the following way. First we must set up and agree upon a clear fiscal strategy. Then we should review our current laws to properly reflect that strategy. Last, but not least, we should undertake some periodical fiscal monitoring to ensure that the planned results are effectively achieved.
The principal actors involved in the fiscal process.
• The State who dictates the fiscal strategy
• Parliament who translates the fiscal strategy into laws and overseas the usage of the public funds
• Finally the implementation of the fiscal policy, that is the collection of the revenue and the disbursement of the expenditure, is under the control of the Ministry of Finance subject, of course, to the necessary budget appropriations. The Ministry publishes every month on its website a fully detailed statement of revenue and expenditure under the heading of “the Public Finance Monitor”.
In our considered opinion, Civil Society should directly participate, in some form or another, to each of the three above phases of the fiscal process: strategy, policy and control.
The justifications for involving the citizens are numerous. Let us mention a few outstanding ones, such as putting into practice some essential democratic principles, allowing the citizens to participate in the governance system of their country, promoting civil peace and pursuing transparency goals, fighting against nepotism and corruption, and the influence of special interests.
The Irish Republic provides a striking example of the beneficial effect of the participative governance that we are recommending for Lebanon. In Ireland, no less than seventy seven different organizations drawn from all level of Irish Civil Society took an active part in the elaboration of the Irish National Development Plan NDP (see list in Attachment A enclosed). These civil organizations were subsequently involved in monitoring the plan’s implementation. This type of collaboration between the State and the citizens has proved very successful in Ireland.
In the next sectionwe shall define the modes and the conditions for the participation of the citizens in the fiscal process.
1. Setting the goals of our fiscal strategy
Before considering the reform of our fiscal strategy we should undertake, as a nation, some introspection and self analysis. What do we do best in Lebanon and where do we go wrong? Our fiscal strategy should be dynamic. It should be aimed at making the most of our national strong points, while seeking to address our handicaps.
As a nation we are doing exceedingly well in the fields of banking and finance, real estate development, and a wise usage of our imported labor force to grow our economy.
In redesigning our fiscal policy we should associate the entrepreneurs who benefit from the current real estate and the financials booms in Lebanon, as well as the large importers and employers of foreign labor. We should ask them to better assume their responsibilities as far as real estate registration taxes, taxes on interest income and the permit fees of the foreign workers are concerned.
On the negative side we are a nation of heavy smokers, compulsory drivers, environmental polluters, and energy wasters.
Through a discriminating use of our tax system, we should encourage the taxpayers to smoke less, use more public transportation means, and contribute to the protection of the environment.
Taxes should also be used to discourage illegal connections and encourage the private sector to search for a solution to our current energy problems, such as solar or bio energy.
The entire fiscal program should be designed with the knowledge, the participation, and the approval of civil society to minimize the risks of future confrontation during the implementation process.
Last but not least, the problem of servicing our public debt should be squarely faced at a time when it stands in the way of any substantive fiscal reform and absorbs forty per cent of the entire resources of the State.
2. The fiscal legislation
Once the government has agreed upon a given fiscal strategy it becomes Parliament’s responsibility to enact and vote the necessary legislation to put this strategy into effect.
We believe that Civil Society should assist the Parliamentary commissions in their fact finding mission. The following organizations could be usefully consulted: the Lebanese Lawyers Association, the Conseil de Magistrature, the syndicates of workers, the associations of employers, the consumers’ associations, the Economic and Social Council instituted in 2000 then subsequently sidelined for reasons unknown. All these institutions and organizations should be encouraged to present their recommendations regarding the fiscal policy of the State.
The form of such State/citizens collaboration should be carefully considered. One should examine how other countries have approached and solved that problem. We have the Republic of Ireland particularly in mind because that country shares a great deal of social and economic similarities with Lebanon.
3. The follow up, the control and the fiscal discipline
Civil Society should partner with the Ministry of Finance in the efforts of that institution to improve the financial situation of the State.
The Ministry publishes monthly the Public Finance Monitor that details all the expenses incurred and the revenue collected during that period. That statement covers sixty seven separate accounts (see comparative report for the years 2004 to 2008 in Attachment B enclosed).
Among these accounts we have singled out twenty two that, in our opinion, should be the subject of particular attention.
We believe that a sound policy of rationalization of expenditure and optimization of revenue with regard to these accounts may lead to a substantial reduction of the total annual budget deficit. (See attachment C outlining the areas and the extent of the specific fiscal improvements considered attainable).
Naturally we do not expect such improvements to occur overnight. However the mere fact of getting the Authorities and the citizens to meet, to discuss and to agree upon some defined standards of performance is by itself a step in the right direction.
4. The methodology proposed for the implementation of the recommended system
We estimate that a period of seven months is required to undertake the necessary investigative and research work and lay down the foundations of a modern system of fiscal management. We propose the following agenda.
Recruit the five members of the working group who will be assigned the task of the research and the collection of information on the previously selected twenty two expenditure and revenue accounts .
The group will then attend a short training period to get familiarized with the project.
The twenty two accounts will be distributed among the five members of the working group.
The group will then meet with the Ministry of Finance officials to discuss the purpose and the agenda of the research program. The Ministry of Finance will provide the group with all the information to help them in their research and enquiry task.
The group will prepare, with the help of the MoF officials, a short questionnaire to be addressed to the government officials who will be interviewed. Some of the questions that will be asked:
1. How does the expenditure or revenue originate?
2. How is it collected or disbursed?
3. How does the information reach the MoF?
4. Who else is responsible for the disbursement or the collection?
5. In the course of their enquiry the group will ask about the accounts of the semi public institutions: MEA, Casino, Central Bank, EDL, Port of Beirut, Tobacco Authority, NSSF, Municipalities
The group should seek to meet with the parliamentary Commission dealing with the item that is being queried.
The group will also enquire with the members of the Parliamentary Commission about the legislative projects that they have in the pipeline.
The group will also seek the assistance of international bodies like the UNDP or the World Bank or some countries that have successfully implemented corrective fiscal corrections of their own like the Republic of Ireland previously cited.
The group will study the background and the current history of each item of revenue and expenditure that they are required to monitor. In some instances they may select some measure of performance to evaluate the results. For example, the number of foreign workers registered in Lebanon can be used to gauge the accuracy of the amount of permit fees collected during the period (In 2009 that amount was 48 billion Lebanese pounds as shown in the Public Finance Monitor).
Similarly the total number of square meters of real estate built and registered during the year and their value as recorded by the syndicate of architects can be used to gauge the accuracy of the amount of real estate registration fees received during that year. To complete the picture one must also add and take into account the sales and the transfers of past built properties. This information should be available at the Registrar’s office.
We have given these two examples to illustrate the size and the complexity of the task that needs to be carried out if the citizens truly wish to share the responsibility of the governance with the Authorities.
These examples also demonstrate the need for full cooperation between the Ministry of Finance and the NGOs.
5. Timetable – the work agenda
The following working agenda is proposed for the period March to September 2010
1. Recruit a number of qualified specialists to undertake the researches, the investigations, and the contacts with the government officials, the NGOs and the members of Civil Society who will agree to join the project. The specialist should be well qualified, particularly in accountancy, law and information collection, analysis, and interpretation March
2. Study the achievements of countries like Ireland, Cyprus, and Japan in the domain of governance, particularly the elaboration of a National Plan and participative governance. Meet with Embassy officials and seek information. March
3. Attend a short training period not to exceed two weeks to get familiarized with the project March/April
4. Meet first with some MoF officials to explain the objectives of the research and secure a guiding list of the different government administrations and officials concerned. April/
5. Prepare, with the help of the MoF officials, a short questionnaire to be addressed to the government officials who will be interviewed. Some of the questions that will be asked: April/
i. How does the expenditure or revenue originate?
ii. How is it collected or disbursed?
iii. How does the information reach the MoF?
iv. Who else is responsible for the disbursement or the collection?
6. Ask about the accounts of the semi public institutions: MEA, Casino, Central Bank, EDL, Port of Beirut, Tobacco Authority, NSSF, Municipalities June/
7. Meet with some University Deans and call on them to introduce courses on taxation and fiscal responsibility in their curriculums. Meet also with taxation specialists to discuss specific subjects
8. Each specialist should seek to meet with the parliamentary Commission involved in the item for which he/she is responsible April/
9. The specialist should enquire with the members of the Commission about the legislative projects that they have in the pipeline. June/
10. Seek and advertise for volunteer organizations, and NGOs, and/ or individuals who will agree to participate in the project. Send a general memorandum to explain the purpose of the project and its objectives. Call for a general Forum to better introduce the project and recruit extra members. April/
11. Draw up a list of the above members with full contact details. Bear in mind that this list will be useful for the subsequent parts of the National Development Plan. April/
12. Study the trends of the individual items of revenue and expenditure and set up some specific targets and measures of performance for each account head Mayl
. 13. Set up some budget amounts for each account head based on the above described targets and measures of performance June/
. 14. Determine from the above the estimated fiscal improvements for each account head July/
. 15. Hold a new Forum to advertise the results accomplished and set up a new round of fiscal improvements. Also explain how the project forms part of the overall National Economic Development Plan project Sept.
6. Tangible and intangible project deliverables and benefits
1) Collect and store information and data that may be used for fiscal control and fiscal discipline and for further reference.
2) Edit and print this information in the form of a booklet to foster transparency. It must be noted that the Ministry of Finance has already done some excellent work in this respect. The NGOs will assist in widening the scope of this achievement.
3) Ensure the widest possible dissemination of information among the population, particularly the universities, regarding the collection and the disbursement of public funds.
4) Strengthen the cooperation between Civil Society and the parliamentary commissions.
5) Build a set of targets, standards of achievement ,and/or budget sums related to each of the twenty two selected accounts. These yardsticks will foster control and assist in the task of monitoring the public revenue and expenditure.
6) Fiscal reports like the Public Finance Monitor will then be easier to understand and will become more effective instruments of control when these standards are introduced.
7) Arrive at a total targeted amount of deficit reduction that is expected to be achieved during Years One, Two and Three of the implementation of the National Plan.
8) Focus initially on a small number of accounts. We believe that, provided some firm action is taken in the case of the five priority accounts that we have targeted in the attached report, the government should succeed in substantially reducing the annual budget deficit.
7. Focusing initially on five major accounts
In the previous paragraph we referred to the substantial reductions in budget deficit that we can expect to achieve if we focus initially on five major accounts out of the sixty seven that appear in the National Budget.
On the expenditure side these accounts are: the Electricity expenditure and the Service of the Debt.
On the revenue side they are: the real estate registration fees, the permit fees paid by foreign workers, and the tax on interest income
We believe that, provided we adopt the right policy of expense rationalization and revenue enhancement, and without raising current or new taxes, we can achieve a total annual deficit reduction of some 2,150 billion Lebanese pounds in these five accounts alone.
In the following paragraphs we present the broad lines of the approach that we recommend to adopt.
1. The real estate registration fees
The statement of comparative revenue results attached to this report indicates that the amount of the real estate registration fees collected over the past six years has constantly and gradually grown from 261 billion Lebanese pounds in 2004 to reach 626 billion in 2009. This result partially reflects the growth of the real estate sector.
We believe that there is scope for a further increase of 500 billion Lebanese pounds per year in this account alone.
We recommend the following approach:
After examining the records maintained at the Association of Architects, draw up an inventory of the properties built during the current fiscal year and their declared value.
From the records kept at the Registrar office, draw up a similar inventory of the purchase and the sales transactions of the properties that took place during the current fiscal year.
Sort out the above information by areas and by districts where the values of the land and the properties do not vary widely. For example the land and the property in the Raouche area are not expected to be the same as in the Akkar, or in some other areas of Beirut.
Apply the standard values to the plots of land and to the built properties located in each area to determine the standard registration fee that should be collected.
Compare the estimated registration fees arrived at with the actual fee collected.
Ten million square meters of real estate are built on average every year in Lebanon, according to the Architect Association. Nowadays, in most areas, apartments do not sell for less than $1000 per square meters. In the Raouche district they sometimes reach upward of five thousand US dollars per square meters. Contrary to what is argued by some, most of these properties are registered because banks would not finance unregistered properties.
We have conducted some preliminary investigations into this matter that lead us to conclude that the Authorities may recover an additional sum of around five hundred billion Lebanese pounds per year in real estate registration fees alone. We believe that a thorough investigation into this matter on the lines recommended above appear to be justified. We recommend calling on Civil Society to participate into this enquiry.
2. Work permit fees charged to foreign workers
During the period from 2004 to 2009 the amount of permit fees collected from the employers of foreign workers has remained fairly constant, hovering around fifty billion pounds per year. This is not consistent with the rapid and the constant growth of most sectors of the economy (agriculture, construction, industry, tourism) that employ a large amount of foreign labor in various occupations.
We estimate (and this only a guesstimate because we have been unable to examine the public records) that around 300,000 Egyptians, some 200,000 house servants and some 200,000 workers of other nationalities are currently employed in Lebanon. They work on agricultural farms, in factories, on construction work, waste collection, restaurants and hotels etc. Most sectors of the economy employ foreign unqualified labor due to the shortage of Lebanese citizens willing to undertake this manual work.
The permit fees that are drawn on Egyptians amount to $600 per year, while the fees for other nationalities except the Syrians are $200 per year.
Based on this information we believe that an additional sum of two hundred billion of Lebanese pounds can be collected every year if a stricter control is exercised over the foreign manpower in Lebanon, especially the aliens who enter the country illegally and do not pay the permit fees. The employers should be asked to make sure that the foreigners in their employ possess all the required documentation.
We recommend that civil society should participate in the research work required to sort out and analyze the public records related to the foreign workers.
Furthermore we suggest that Parliament consider voting a Law requiring Syrian citizens working in Lebanon to pay an annual fee of 100,000 Lebanese pounds. Considering that more than one million Syrians currently work in Lebanon this fee will boost the national revenue by one hundred billion Lebanese pounds. This measure will contribute to reduce the national deficit without causing much harm to the Syrian workers, as it involves five US dollars per month only and it is generally absorbed by the employers.
3. “Electricite du Liban” – The high costs of generating and distributing energy in Lebanon
Electricité du Liban (EDL) is a public establishment with an industrial and commercial vocation.
It was founded by Decree No. 16878 dated July 10, 1964, and is responsible for the generation, transmission, and distribution of electrical energy in Lebanon.
Currently, EDL controls over 90% of the Lebanese electricity sector (including the Kadisha concession in North Lebanon which is owned by EDL). Other participants in the sector include hydroelectric power plants owned by the Litani River Authority, concessions for hydroelectric power plants such as Nahr Ibrahim and Al Bared, and distribution concessions in Zahle, Jbeil, Aley, and Bhamdoun.
Since 2001 EDL has incurred substantial annual losses that have always been assumed by the Lebanese Government. These losses have significantly increased during the past six years with the rise in the cost of fuel oil that is used to operate the turbines. In 2008 the declared EDL losses published by the Ministry of Finance in the Public Finance Monitor reached a total of 2,430 billion Lebanese pounds amounting to 16% of the entire public expenditure.
Since 2005 our Center has studied the different reports prepared by the international and the local experts on the subject of electricity and the different proposals to address this vexing problem that have been presented and published in Lebanon.
We also recently undertook an analysis of the results of EDL’s operations during the period 2001 to 2009. Although we were hampered in our work by the absence of audited accounts for this institution (the last audit report was published in 2001), we managed through proration and some educated guesswork to establish a pattern for these results that show up in the attached table and graph.(see attachment F enclosed)
One point that particularly drew our attention is the glaring discrepancy in 2009 between the amount of the prorated losses (1,514 billion Lebanese pounds) that we arrived at and the losses published in the Public Finance Monitor for that year (2,259 billion Lebanese pounds). Our own loss estimate was based on the fact that the average price of crude oil in 2009 averaged $53.56 while it was $91.48 in 2008.
This discrepancy, added to the fact that no EDL accounts have been published since 2001, lead us to insist upon full transparency with regard to matters concerning this vital sector of the country’s economy.
It also reinforces our conviction that a stricter control over EDL’s operations and records would ultimately lead to some substantial saving in expenditure that we estimate to be in the region of 800 billion Lebanese pounds per year.
Civil Society is ready to participate with the Authorities in conducting the necessary researches.
4. Tax on interest income
The yearly annual revenue from the taxes on income interest has substantially increased during the past eight years. It amounted to 261 billion Lebanese pounds in 2001 and it reached an all time high of 558 billion Lebanese pounds in 2009.
The fact should not be surprising considering the spectacular increase in bank deposits in Lebanon that even the 2008/2009 world financial crisis could not abate.
We believe that, in this domain, there is still scope for annual improvement of up to 150 billion Lebanese pounds. We do not expect this additional revenue to come from additional deposits nor do we call for a higher tax rate. We believe that a tighter control over the movements of funds through the banking sector and the closing of the loopholes in some financial transactions will ultimately lead to the same result. The local NGOs should partner with the representatives of the banking community to assist the Ministry of Finance in achieving this goal.
5. The Service of the National Debt
This subject has been purposely left to the end because of its complexity and its huge impact over the Nation’s budget and resources.
In 2009 the service of the Debt accounted for 34% of the country’s expenditure and absorbed 45% of its financial resources.
Worse still, by draining away most of the liquid facilities available in the market, the service of the debt prevents the Authorities from implementing any coherent and cohesive reform and reconstruction program. Developing the physical as well as the human infrastructure of the country which is the most important role of any elected government is also rendered quasi impossible by the demands brought about by the service of the national debt.
So how can one get out of this vicious circle and can Civil Society contribute in any way to solve that apparently unsolvable dilemma?
Our answer is a resounding yes. The problem of the National Debt concerns essentially Civil Society. It can be solved provided Civil Society is given a say in the search for a solution to that problem.
The National Debt concerns primarily Civil Society because, in this instance, the major national creditors are members of that Society. It is no secret that the local banks are the largest holders of the national debt instruments.
Of course the problem of the National Debt is complex and deserves a great deal of attention and consideration. That is why the best economic and financial brains in this country, and fortunately there is no shortage of them, should be openly invited to participate in the search for a long term solution to that apparently intractable problem.
The Lebanese media has recently referred to some serious attempts by the Ministry of Finance to face up to this challenge. We recommend forming a committee composed of representatives of the banks, the business associations, the syndicates, and the economists to assist the current Minister of Finance in her task. Why not revive on this occasion the “Conseil Economique et Social” that has been dormant for so long?
Whichever way out is adopted, we believe that we should focus on a minimum reduction in the service of the debt during the first year of five hundred million Lebanese pounds. This amount has not been quoted arbitrarily but came as the result of several past studies and researches. The final proposal to be presented to Parliament however should concern the Ministry of Finances, the Committee mentioned above and the parliamentary Commission for Budget appropriation and finance,
We wish to conclude by referring our readers to the following remark that was made at the beginning of the present report: “Our fiscal strategy should be dynamic. It should be aimed at making the most of our national strong points, while seeking to address our handicaps.”
Our fiscal strategy should consist in enhancing State revenue from the activities where our expertise is undeniable, i.e. construction (real estate registration fees) and finance (tax on interest income).and reducing our losses in the areas where we are most vulnerable (energy generation and distribution, and the service of our national debt).
Let us conclude by reminding ourselves that the ultimate objective of good public governance is not so much to cultivate and grow national resources but to seek the best way to spend them in the best interest of the citizens.
8. Budget
Project’s estimated Budget
An estimate of the cost of the project is as follows (US$):0\
Human Resources
Project Manager ($2,500 per month for 7 months) $ 17,500
Project Assistant ($1,500 per month for 7 months) $ 7,500
Five researcher specialists for 7 months @$1,000 each) $35,000
Accountant (20% of $1,000 per month for 7 months) $ 1,400
Legal assistance during 7 months at $1,000 per month $ 7,000
Direct Costs
Launch and staff and partners recruiting Event $ 2,000
Mid-Term Event for review of performance $ 2,000
Closing Event for assessment of results and consideration of further action $ 2,000
Printing brochures describing the project and the different phases of its implementation (3,000 brochures @ $1 each) $ 3,000
Overhead Expenses
Copying and stationery (@$150 for 7 months) $ 1,050
Transportation (@$500 per month for 7 months) $ 3,500
Office rent (50% of $600 per month for 7 months) $ 2,100
Utilities ($100 per month for 7 months) $ 700
Miscellaneous $ 2,250
Total in U.S. $ 87,000
Note: We should include some amounts to be paid to the economic consultants who will be required to present some points of view and some specific recommendation to reduce the deficit. We have to agree upon the sum to be offered for such expert consultations.
9. Conclusions
At the end of this report we wish to reiterate our faith in the virtues of partnership between the State and the citizens. This collaborative study will enable the Authorities to put together the elements of an innovative and effective fiscal strategy and a more equitable fiscal legislation. They will also be able to exercise a stricter and more regular control over the public expenses and revenue,
The success of this undertaking will not only contribute to improve our country’s finances, it will open the way to a successful and sustainable economic development and a broader social inclusion.
Attachments:
- Attachment A: List of the Irish civil institutions and associations that contributed to the elaboration of the Irish National Attachment B: Comparative detailed revenue and expenditure results for the years 2004-2008 as published by the Ministry of Finance on their web site in the Public Finance Monitor
- Attachment C: A statement of the future avenues and the projected amounts of fiscal improvements under twenty main account heads
- Attachment D: Some suggested standards and measures of performance to be used in the evaluation of the results published in the Public Finance Monitor
- Attachment E: A questionnaire to be filled by the members of Civil Society who wish to take part in the project.
- Attachment F: A comparison between prorated and published electricity costs at EDL.
- Attachment G: Graphic representation of the expenditure and revenue trend of five major fiscal accounts
