On June 15, 2020, the United States Department of State released the 2020 Fiscal Transparency Report, which found that 76 of 141 governments reviewed by the Department met minimum requirements of fiscal transparency. Fourteen of the 65 governments that did not meet minimum requirements made significant progress during the review period.
Fiscal transparency is a critical element of effective public financial management, helps build private market confidence, and underpins economic sustainability. It fosters greater government accountability by providing a window into government budgets for citizens, helping citizens hold their leadership accountable, and facilitating better-informed public debate. Annual fiscal transparency reviews provide opportunities to engage in dialogue with governments on the importance of fiscal transparency.
Original Source: State.gov
