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République Centrafricaine - Programme d’appui aux réformes économiques et financières (Approuvé)

02-sep-2019

PAREF comes in a context of normalization of the country’s institutions, with the adoption of a new constitution in December 2015 and the election of a new president in February 2016. The Programme is part of continuing measures supported by the two Crisis Response Budget Support (CRBS) operations, which assisted the transitional government in restoring the capacities of the financial and social administration. PAREF will include more structuring measures to help boost the economy and improve public finance management. The implementation of programme measures are expected to result in(i) an increase in tax revenue from 7.1% of GDP in 2015 to 8.7% of GDP in 2017; (ii) a reduction in public procurement by direct negotiation from 90% in 2015 to less than 50% in 2017; (iii) a reduction in the number of business start-up days, from 22 days on average in 2015 to less than 14 days on average in 2017; and (iv) a decrease in the cost of creating businesses from 204% of income per capita in 2015 to less than 150% of income per capita.

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