Nebraska is in a sound fiscal position compared to other states, but this situation is not likely to last. States are being asked to do more by both the local and federal levels of government, and the resulting budgetary squeeze needs to be addressed. States set budgets over short horizons, but...

Ádám Török has presented a thorough analysis of the problems associated with excessive public debt, focusing on the position of Eastern countries with special emphasis on Hungary. Recent experiences with debt problems in euro countries corroborate Török's position that a, "100 per cent...

The lack of budget transparency and projections accuracy have been among the determinants of the last four decades high deficit and debt, as the recent 2008-2009 economic crisis has highlighted. In order to improve fiscal policy process and budget transparency, the European Union (EU) stated...

This review looks at how the budgeting and public financial management system, as managed and co-ordinated by the Ministry of Finance, effectively supports Principles 2 and 3 of the OECD Recommendation on Budgetary Governance (2015). This report is divided into four sections providing...

This review provides an overview of the budgetary landscape in Thailand and identifies the legal and constitutional aspects that impact on the planning, preparation and reporting of the budget. It then discusses strategic planning elements of the budget, specifically fiscal objectives,...

This paper surveys the empirical research on fiscal institutions of the last three decades. The main results are: (i) Constitutional or statutory fiscal limitations have in most cases proved to be effective in cutting down public expenditure, revenue, and debt. (ii) Budgetary proce-dures matter...

Estonian authorities have made remarkable progress in a relatively short period of time by putting into place the elements of a modern budget process and fiscal management system. This progress is especially notable given the difficult circumstances the country has gone through in the transition...