The minimum requirements of fiscal transparency include having key budget documents that are publicly available, substantially complete, and generally reliable. According to the State Department, fiscal transparency is a critical element of effective public financial management, helps build market confidence, and underpins economic sustainability. It reviews governments that were originally identified in the 2014 Fiscal Transparency Report and Equatorial Guinea. It makes specific recommendations of short- and long-term steps such government should take to improve fiscal transparency. Finally, it includes a detailed description of how funds appropriated by the Act are being used to improve fiscal transparency including benchmarks for measuring progress.

Source: Front Page Africa June 17, 2020 04:07 UTC