2013年-世界发展银行全球_Peru___Revamps_its_Public_Investment_System_31页_4mb

Summary of Peru's Public Investment System Revamp

Core Content

This document presents a case study on Peru's efforts to reform its Public Investment Management (PIM) system. It outlines the challenges and progress made in the context of a decentralized public investment framework, the alignment of investment priorities with national and subnational goals, and the need for improved coordination and efficiency in the investment cycle.

Main Points and Key Information

Context and Background

• Peru's Economic Growth: Peru experienced high and sustained economic growth, which increased public investment resources but also created challenges in execution capacity.
• Decentralization Process: Since 2002, responsibilities for public investment execution have been shifted to subnational governments, leading to coordination challenges.
• Public Investment System (SNIP): Established in 2000 as a centralized system under the Ministry of Economy and Finance (MEF), SNIP was later decentralized in 2007 to include regional and local governments.

Investment Gaps and Trends

• Infrastructure Deficits: Peru lags behind other Latin American countries in access to infrastructure, especially in rural and Amazon regions.
• Sectoral Concentration: Public investment has increasingly focused on transportation, with its share rising from 30% in 2006 to 47.4% in 2012.
• PPP Focus: Public-private partnerships (PPPs) have been a key focus, particularly in water and sanitation, roads, and ports.

Institutional Arrangements

• SNIP Structure: SNIP is composed of four core units:
  1. DGPM (Governing body)
  2. Supreme Executive Authorities (Decision-making bodies)
  3. UF (Formulating units)
  4. OPIs (Programming and Investment Offices)
• Coverage and Challenges: SNIP covers about 804 OPIs, but not all subnational governments. Only about half of the local governments are included, leading to incomplete institutional coverage and potential inefficiencies.

Public-Private Investment Framework

• Proinversión: Manages public-private partnerships (PPPs) separately from SNIP.
• Legal Instruments: Peru has developed legal frameworks to support PPPs, including Supreme Decree 104 (2007) and Legislative Decree 1012 (2008).
• Project Classification: Projects are categorized based on size, with different appraisal procedures:
  • Basic projects (up to $120,000): Simplified procedure.
  • Small projects (<$400,000): Standard evaluation.
  • Full-scale projects ($400,000–$2.5 million): Comprehensive appraisal.
  • Pre-investment studies ($2.5–$4 million): Required for larger projects.

Efficiency of the Investment Cycle

• Investment Planning: Peru lacks a formal national planning system, leading to fragmented and limited planning processes. Planning is often done through public investment rather than a structured approach.
• Project Preparation and Appraisal: The appraisal process has improved with the development of methodological manuals, but it remains limited in subnational levels. Less than 0.5% of investment is allocated to pre-investment studies at the local level.
• Execution and Implementation: Execution capacity remains a challenge, especially with the increased volume of public investment and the lack of coordination.
• Operation and Maintenance (O&M): O&M is often neglected, leading to inefficiencies in long-term sustainability.
• Ex Post Evaluation: Limited and inconsistent evaluation practices hinder learning and improvement.

Challenges and Opportunities

• Coordination Issues: The absence of a national planning system and limited coordination between national and subnational levels contribute to inefficiencies.
• Political Incentives: Subnational governments have incentives to create local physical assets, which can lead to fragmented and small-scale projects.
• Resource Allocation: Increased resources from natural resource transfers have created spending inequities in subnational governments.
• Efficiency Gaps: Cost and time overruns are still prevalent, indicating a need for better efficiency in spending.

Policy Recommendations

• Strengthen Basic Capacities: Focus on human resources and institutional capabilities.
• Enhance Implementation Stage: Prioritize procurement reforms to improve efficiency.
• Improve Coordination: Promote alignment of national and subnational resources towards shared goals.
• Integrate Results-Based Budgeting: Align PIM with Results-Based Budgeting (PpR) and multi-year programming.
• Strengthen Demand Side: Improve service delivery and equity by involving end-users in the planning process.

Conclusion

Peru's reform of its public investment system represents both progress and challenges. While the system has expanded to include subnational governments and developed a more structured approach to project appraisal, significant gaps remain in coordination, execution capacity, and the integration of budgeting and planning processes. Addressing these issues is essential for improving the efficiency and impact of public investment in the country.