The Open Budget Index (OBI) for the year 2010 assessed 94 countries from around the world in terms of their budget openness and accountability. The drive was coordinated by the International Budget Partnership, a Washington DC based independent think-tank.
Of the 94 countries reviewed, only 24 yielded satisfactory results when it came to maintaining a transparency in their budgets. Despite some notable improvements, many of the countries surveyed have numerous milestones to achieve. The situation in Southeast Asia is even more worrying as none of the seven countries surveyed achieved a satisfactory score (i.e. at least 60 out of a possible 100 points). Singapore was, however, not included in the recent survey.
The importance of budget transparency for democratic, economic and social development
Transparency is a central theme of the good governance discourse. For economic and social development, in particular in a transitional/developing region like Southeast Asia, access to and information about budgets can make a real difference to citizens’ lives Continue reading