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Over the past twenty years, fiscal policy has become one of the three pillars of macroeconomic stability for Colombia, the other two being the flexible exchange rate and inflation targeting. The credibility and sustainability of fiscal policy is the result of strong institutions (in particular,...
Persistent link: https://www.econbiz.de/10013209203
Benefiting from successful economic transformation after independence and the start of EU accession negotiations, economic activity in Montenegro has been solid, supporting the rise in incomes their convergence with the ones in the European Union. Inflation has been modest and kept in check....
Persistent link: https://www.econbiz.de/10012646187
The Ecuador public finance review (PFR) series responded to a request from the Ecuadorian Ministry of Economy and Finance (MEF) to assess the efficiency and effectiveness of public spending. The PFR series offers a combination of analysis, capacity building, and options for reform in selected...
Persistent link: https://www.econbiz.de/10012646479
The first three chapters of the PFR review the core fiscal policy and revenue mobilization issues. Chapter 1 discusses the fiscal landscape, fiscal framework, and progressivity of fiscal policy. Chapter 2 looks at the footprint of quasi-fiscal activities, which affects the overall fiscal stance...
Persistent link: https://www.econbiz.de/10014516884
This section of the Public Finance Review (PFR) assesses the level, quality, efficiency, and equity of public spending on education in North Macedonia and recommends policies that could increase efficiency as well as outcomes. It also examines the status of recent education reforms in the...
Persistent link: https://www.econbiz.de/10014249819
The Public Finance Review (PFR) analyzes Lebanon's public finances over a long horizon, to understand the roots of the fiscal profligacy and its eventual insolvency. To do so, the PFR links three critical elements in three Sections. Section I: Fiscal Policy in the Second Republic; Section II:...
Persistent link: https://www.econbiz.de/10013413952
Bulgaria has traditionally adhered to fiscal discipline and prudent fiscal policy since the introduction of its currency board arrangement in mid-1997. After a gradual decline in the 2000s, public debt has remained among the lowest in the European Union (EU), hovering in a narrow band between 17...
Persistent link: https://www.econbiz.de/10014454364