This paper highlights key issues pertinent for the understanding of international effects of domestic tax policies and of international tax harmonization. The analytical framework adopts the saving-investment balance approach to the analysis of international economic interdependence focusing on...

There is broad agreement on the appropriateness of the budget deficit target. The government aims to strengthen expenditure control and efficiency, at the national and at subnational levels, to achieve a reduction in the tax burden while cutting the fiscal deficit. The IMF staff suggested...