to find out the accuracy of forecasting and the results show that there are statistically significant forecast errors and …

documents of the following years to understand the evolution of fiscal forecast errors. Our findings suggest that: (i) for most … terms of drivers, we show that forecast errors for the fiscal balance-to-GDP ratio are positively correlated with GDP growth … and terms of trade changes and negatively with GDP deflator surprises; (iv) forecast errors for public debt-to-GDP ratios …

can be considered as exogenously given in the budgeting process. We find that forecast errors at various forecast horizons …