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Fiscal Consolidation in Southeastern European Countries

2012-05-01 Business & Economics
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Release : 2012-05-01
Genre : Business & Economics
Kind : eBook
Book Rating : 152/5 ( reviews)

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Book Synopsis Fiscal Consolidation in Southeastern European Countries by : Mr.Brian Olden

Download or read book Fiscal Consolidation in Southeastern European Countries written by Mr.Brian Olden. This book was released on 2012-05-01. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the relative strengths and weaknesses of fiscal institutions in ten Southeastern European countries, using recent benchmarking methodologies developed by FAD. The assessment evaluates each country’s understanding of the scale of the fiscal adjustment challenge, its ability to develop a credible consolidation strategy, and its capacity to implement the strategy. Key institutional arrangements, are generally in place, including top-down budgeting and medium-term budget frameworks. Other institutional arrangements require further attention, including macro-fiscal forecasting, fiscal risk analysis, setting fiscal objectives, presence and role of independent fiscal agencies, and top-down parliamentary approval.

Fiscal Consolidation in Southeastern European Countries

2012-05-01
Download Fiscal Consolidation in Southeastern European Countries PDF Online Free

Author :
Release : 2012-05-01
Genre :
Kind : eBook
Book Rating : 340/5 ( reviews)

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Book Synopsis Fiscal Consolidation in Southeastern European Countries by : International Monetary Fund

Download or read book Fiscal Consolidation in Southeastern European Countries written by International Monetary Fund. This book was released on 2012-05-01. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the relative strengths and weaknesses of fiscal institutions in ten Southeastern European countries, using recent benchmarking methodologies developed by FAD. The assessment evaluates each country’s understanding of the scale of the fiscal adjustment challenge, its ability to develop a credible consolidation strategy, and its capacity to implement the strategy. Key institutional arrangements, are generally in place, including top-down budgeting and medium-term budget frameworks. Other institutional arrangements require further attention, including macro-fiscal forecasting, fiscal risk analysis, setting fiscal objectives, presence and role of independent fiscal agencies, and top-down parliamentary approval.

Public Expenditure Policies in Southeast Europe

2008-02-20 Political Science
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Release : 2008-02-20
Genre : Political Science
Kind : eBook
Book Rating : 516/5 ( reviews)

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Book Synopsis Public Expenditure Policies in Southeast Europe by : Ivailo V. Izvorski

Download or read book Public Expenditure Policies in Southeast Europe written by Ivailo V. Izvorski. This book was released on 2008-02-20. Available in PDF, EPUB and Kindle. Book excerpt: The countries of Southeast Europe have undergone a significant transition over the past decade. Helped by macroeconomic stabilization and efforts in advancing structural reforms, real GDP growth has picked up this century. Fiscal adjustment has been an integral part of the transition. Expenditure cuts have helped trim spending relative to GDP in most countries in the region and cut fiscal deficits everywhere except in Serbia. Progress in fiscal consolidation has been substantial, but in several of the countries the government's presence in the economy remains oversized. Costs related to advancing EU integration and completing reforms are expected to generate further pressures for public spending. Creating the fiscal space for addressing such pressures would require a further reduction in existing spending, given that there is still scope for increasing tax rates. The report identifies key remaining challenges and proposes a menu of options in further reforms in sectors that account for the largest shares of public spending, and where reforms are likely to have significant budgetary implications. The sectors discussed in the report are social protection, health, education, public administration, and infrastructure.

Macroeconomic Challenges with EU Accession in Southeastern Europe

2006 Europe
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Release : 2006
Genre : Europe
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Macroeconomic Challenges with EU Accession in Southeastern Europe by : Piritta Sorsa

Download or read book Macroeconomic Challenges with EU Accession in Southeastern Europe written by Piritta Sorsa. This book was released on 2006. Available in PDF, EPUB and Kindle. Book excerpt: The paper reviews key macroeconomic challenges with EU accession in Southeastern Europe (SEE). Most of the countries in the region are years away from EU accession and need substantial progress to meet the key macroeconomic criteria - the establishment of a functioning market economy and macroeconomic stability. The former calls for further structural reforms. While macroeconomic stability is essential throughout the EU accession process, the importance of specific outcomes increases in the last stage of accession, when countries face decisions to apply for entry into the ERM2 and the Maastricht criteria (Bulgaria and Romania). The main challenges with establishing macroeconomic stability in other countries are related to sustainability of their monetary frameworks, risks from rapid financial deepening, and further fiscal consolidation to support growth and stabilization. Most of the SEE countries have room to lower public spending and increase the share of pro-growth spending.

The Impact of the Global Crisison South-Eastern Europe

2011-12-01 Business & Economics
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Release : 2011-12-01
Genre : Business & Economics
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Book Rating : 86X/5 ( reviews)

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Book Synopsis The Impact of the Global Crisison South-Eastern Europe by : Mr.Emidio Cocozza

Download or read book The Impact of the Global Crisison South-Eastern Europe written by Mr.Emidio Cocozza. This book was released on 2011-12-01. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the impact of the global crisis on six South-Eastern European countries. The main objective is to compare macro-financial conditions and policies in the run-up to the crisis as well as to compare the policy responses to it, so as to highlight, inter alia, possible country-specific constraints. While sharing a common pre-crisis pattern of strong capital inflows and robust growth, a key difference in the conduct of macroeconomicpolicies is that some countries adopted expansionary (and procyclical) fiscal policies. These moves exacerbated external vulnerabilities and compromised the ability to discretionarily use the fiscal instrument in acountercyclical fashion.

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