Fisher points out that while the Excessive Deficit Procedure and the Stability and Growth Pact introduce a framework of numerical rules and surveillance procedures to be conducted at the supranational EU level, it is up to each Member State to ensure the necessary conditions allowing the...

This is the first study which estimates costs and benefits of overall policy reform for implementation of performance based budgeting. Costs estimation is based on a phased implementation, where we consult the Regulatory Impact Assessment methodology. In order to estimate benefits, we use a...

Discounting of cash flow is the operation widespread in financial sector. But it is applied only to the corporate finance. In the article the opportunity of discounting of incomes and charges of the state budget is investigated. Besides in the article the opportunity of application of rules of...