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Kyrgyz Republic Public Expenditure Review Policy Notes : Public Investment ManagementWeaknesses in the public investment
 management (PIM) system may limit the gains from higher
 public sector investments in the Kyrgyz Republic. Capital
 spending has averaged 6.4 percent of GDP since 2010, up from
 4.6 percent of GDP between 2005 and 2009, with significant
 investment in the energy sector and roads. Still, it remains
 unclear to what extent these investment decisions reflect
 the country's and sector priorities. Few projects,
 with the exception of donor-financed projects are subject to
 rigorous appraisal and there is no systematic procedure in
 place to monitor implementation progress. As a result,
 projects are often delayed or stalled and cost over-runs are
 frequent. Donor-financed projects, which comprise the bulk
 of public investment, are subject to relatively more
 rigorous project cycle management; however, they too face
 some of the same weaknesses. The rest of the note is
 structured as follows: section two provides a diagnosis of
 the public investment portfolio, including the structure of
 expenditures, the quality of the data, and a quantitative
 assessment of the efficacy and effectiveness of the public
 investment portfolio. The assessment builds on previous work
 on public investment in the Kyrgyz Republic, in particular
 the Public Investment Diagnostic undertaken in 2012 under
 the Capacity Building in Economic Management (CBEM) project.
 Section three reviews the institutional and administrative
 framework of PIM in Kyrgyz Republic. This draws largely
 from the draft Investment Diagnostic Report prepared in
 December 2012 using the eight key 'must-have'
 features of a well-functioning public investments framework
 proposed in Rajaram et.al. (2011). Finally, section four
 includes a summary of the findings and detailed
 recommendations on improving PIM.
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Kosovo : Policy Note on Public Investment ManagementAs Kosovo moves towards resolution of
 its political status, the attention of the authorities and
 of the international donor community is increasingly turning
 towards the need for modernization of Kosovo's economic
 and social infrastructure in order to facilitate sustained
 economic growth and development. This note looks further
 into the underlying causes and the actions that will be
 required to address them. The main conclusions of the note
 are that the fundamental causes of under spending on the
 capital spending program lie in the failure to plan and
 manage the program within a medium-term context and in the
 institutional capacity constraints that currently confront
 the public finance management (PFM) system. The note begins
 by providing a brief overview of the scale and composition
 of Kosovo's capital spending program (section B) and
 the institutional arrangements for public investment
 management (section C). It then goes on to look at the
 causes of the fall in the execution of the capital spending
 budget that occurred in 2006 (section D), and to consider in
 more detail issues relating to capital investment
 identification and development (section E), budget
 preparation and financing (section F), and capital budget
 execution, procurement and monitoring (section G). The final
 section summarizes the key conclusions and next steps
 actions (section H). A summary of the analysis is provided
 in the assessment framework that is included in annex I.
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Uganda - Strengthening the Effectiveness of the Public Investment Program : Public Expenditure ReviewTo advance the effectiveness of Uganda's public investment program (PIP) improvements can and should be made from the inception of an investment program all the way through its implementation. It is not a question of abandoning the current process but one of adjusting the various stages of the current PIP processes in place such that in particular quality at entry and readiness of investment projects improves, contract management gets strengthened, and above all incentives for implementation are enhanced. The aim of the adjustments to the PIP processes in Uganda is to ensure that the PIP can assist the government to direct resources to those investments that provide the highest economic and social return. The government is advised to revisit the current informational content of the PIP as well as the decision making process of the PIP at each of the phases of the PIP, i.e., preparation, evaluation, and implementation. The remainder of the executive summary will discuss how this can potentially be accomplished. Uganda's economy has grown rapidly over the past 20 years propelled by consistent policy reforms. Annual growth in real Gross Domestic Product (GDP) has averaged 7.4 percent over the 10 years ending in 2009/10, compared with 6.5 percent recorded in the 1990s. This acceleration was in spite of consecutive exogenous shocks including: the oil price shock; drought conditions with adverse effects on energy generation and agricultural production; and volatile food prices.