expenditures. Preliminary results show that revenues and expenditures do not have a long-run relationship and hence a rejection of … expenditures in order to place emphasis on the structural component. We argue that the structural component of fiscal variables … represents the actual long term behaviour of the policymaker. Further results indicate that structural revenues and expenditures …

This study presents an evaluation of the National Expenditure Program for 2013. First, this paper projects that the … fiscal targets set out in the Budget of Expenditures and Sources of Financing (BESF) for 2013 are likely to be met … economic services sectors is emphasized in the 2013 National Expenditure Program, the services sector still accounts for more …

Debt-financed fiscal stimulus programmes directly stimulate aggregate demand through government expenditure or tax cuts …, but their effectiveness is highly dependent on direct crowding out of private sector expenditure, spillover effects to the …) on short-term and long-term (nominal and real) interest rates. These disaggregated expenditure and revenue shocks raise …