IMF Staff Country Reports

Slovak Republic: Technical Assistance Report-Public Investment Management Assessment

Publication Date:

October 31, 2019

Electronic Access:

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Summary:

This Technical Assistance paper assesses Slovak Republic’s public investment management framework using the IMF’s Public Investment Management Assessment (PIMA) methodology and advises the authorities on options to strengthen further the management of public investment. State-owned enterprises are major investors in infrastructure but are subject to little central oversight of their operational or financial performance. The report makes seven recommendations aimed at strengthening PIM institutions and reducing the identified efficiency gap. These recommendations focus on key bottlenecks and challenges in the investment process. Issues that warrant the authorities’ primary attention include introducing a strategic planning framework for public investment; developing a fully-operational pipeline of major projects, based on clear and robust selection criteria; and improving the credibility of the annual budget and medium-term budget ceilings. It also recommends establishing a national strategy and norms for routine and capital maintenance budgeting that will enhance the quality of strategic existing infrastructure.

Series:

Country Report No. 2019/330

Subject:

Budget planning and preparation Capital spending Expenditure Infrastructure National accounts Public financial management (PFM) Public investment and public-private partnerships (PPP) Public investment spending