The fiscal challenges of Brazil's states and municipalities can have a significant impact on the economy and the provision of core public services. The subnational governments (SNGs) account for a large share of public expenditures, including public investment. As such, their fiscal problems can...

Although Tamil Nadu's public financial management has been characterized by strong fiscal discipline to date, risks and challenges are emerging. The State has largely observed the Fiscal Responsibility Act targets on debts and deficit (25 percent and 3 percent to GSDP, respectively) except...

What are fiscal policy rules? What are the principal benefits and drawbacks associated with various fiscal rules, particularly compared with alternative approaches to fiscal adjustment? Can fiscal rules contribute to long-run sustainability and welfare without sacrificing short-run...

This paper discusses Somalia's Second Review Under the Staff-Monitored Program and Request for Three-Year Arrangements Under the Extended Credit and the Extended Fund Facility. The three-year financing package will support the implementation of the authorities' National Development Plan and...

The Polish government is making good progress with implementing the ambitious Budget System Reforms (BSR) program, first approved by the Council of Ministers (CoM) in 2016. The government demonstrates a high level of commitment to these reforms and is making significant progress in implementing...