Quasi-Fiscal Deficit in Non-Financial Enterprises

Robert Tchaidze

No 2007/010, IMF Working Papers from International Monetary Fund

Abstract: This paper discusses two ways of evaluating the quasi-fiscal deficit (QFD) and the link between them. It also suggests how to properly account for the QFD when calculating the overall deficit of the public sector. Finally, using an example of the energy market, it shows how to untangle a web of mutual nonpayments and properly evaluate the QFD generated in a sector characterized by the presence of both private and public agents.

Keywords: WP; enterprise E; budget deficit; quasi-fiscal deficit; implicit subsidies; tax arrears; payment arrears; utility company; generating company; nonfinancial enterprise; payment collection ratio; Government debt management; Budget planning and preparation; Arrears; Public sector (search for similar items in EconPapers)
Pages: 13
Date: 2007-01-01
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