Washington, DC [US], August 12 (ANI): The US Department of State on Tuesday (local time) released the 2026 Fiscal Transparency Report, in which department officials found that '73 of 139 governments and one entity assessed met the minimum fiscal transparency requirements'.

According to a statement by the Department of State, 67 governments did not meet the minimum requirements. Of those, 14 made 'significant progress' toward meeting them.

'Department officials found that 73 of 139 governments and one entity assessed met the minimum fiscal transparency requirements. Sixty-seven did not meet the minimum fiscal transparency requirements, but of those, 14 made significant progress toward meeting the minimum fiscal transparency requirements,' the media note read.

It stated that the 2026 Fiscal Transparency Report (FTR) is a critical element of effective public financial management: it helps build market confidence, underpins global economic stability, and levels the playing field for US firms.

'It fosters greater government accountability by providing a window into government budgets and spending. Congress mandated annual reviews of fiscal transparency to help ensure the appropriate use of US taxpayer funds related to foreign assistance,' the release said.

The 2026 report describes the minimum fiscal transparency requirements and reviews the governments and entities assessed, most of which were identified as recipients of US assistance in the 2014 Fiscal Transparency Report.

The Department evaluated the public availability, completeness, and reliability of budget documents, as well as the transparency of processes for awarding government contracts and licenses and public procurement contracts.

The Fiscal Transparency Report helps create competitive business conditions for US companies abroad by improving public financial management to reduce the risk of corruption and unfair practices in international markets, 'promoting stronger industry standards to improve market access, reducing the risk of financial crimes, and requiring debt data disclosure to counter predatory lending'. (ANI)