summary assessment below. It evaluates how effectively the PFM system achieves the desirable budget outcomes of aggregate …

by high expectations for its ability to transform national budget processes. PBB offers the hope of a more evidence …-based rationale for making budget decisions across an array of competing policy and program areas. It offers a framework for linking … medium-term national strategies with the annual budget process, while the program logic structure gives a more transparent …

stabilization effects? Policymakers and economic analysts need to be able to ascertain fiscal policy effort. As the actual budget … remove cyclical effects of general government budget balances. The cyclically-adjusted budget balance (CAB) indicator plays … cyclically-adjusted budget balances in BiH, following a commonly agreed method by the European Commission and assesses the …

Postponement of 2012 VAT Law requires significant early adjustments in the FY18 Budget to tap additional sources of … on developments in non-development capital expenditures, loans and advances, and block allocations in the revenue budget … expensive domestic financing of the budget deficit …

spend over 15 percent of the budget on the security sector and nearly 9 percent of GDP on wage and nonwage compensation …