Republic of Poland: Technical Assistance Report-Developing a Medium-Term Budget Framework

International Monetary Fund

No 2017/170, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Assistance Report discusses the progress made toward developing a medium-term budget framework (MTBF) in Poland. Many of the prerequisites for establishing an MTBF have already been satisfied in Poland. The annual budget has a high degree of credibility; macroeconomic projections are generally accurate; and fiscal rules on debt, expenditure, and the deficit provide sufficient guidance to fiscal policy in the medium term. However, some weaknesses remain that should be addressed either in parallel or as part of the MTBF reform. The design of the MTBF should be carefully considered to meet the government’s fiscal objectives while operating within current capabilities.

Keywords: ISCR; CR; State budget expenditure forecast; budget process; expenditure projection; Medium-term expenditure commitment mechanism; policy priority; commitment mechanism; forecasting round; expenditure pressure; major general government unit; budget target; expenditure ceiling; expenditure growth; Policy proposal; Budget planning and preparation; Medium-term budget frameworks; Public expenditure review; Macroeconomic and fiscal forecasts (search for similar items in EconPapers)
Pages: 63
Date: 2017-06-27
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