BUDGET ELABORATION IN AUSTRIA

Alin Stelian Dobre
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Alin Stelian Dobre: The Ministry of Public Finance

Journal of Financial and Monetary Economics, 2015, vol. 2, issue 1, 33-40

Abstract: The classic annual budget should pass the floor to a multi-annual budget to accommodate the financial perspective of the EU budget because annual budget is currently used unresponsive for multiannual financing of European projects. Multiannual budget should be designed both the commitment and payment appropriations to be able to have a cash flow that does not lead to cash shortages. A modern budget consistent with the requirements of deepening European integration should meet the following conditions: a) applying generalized budgetary classification ESA (European Standard of Accounts) or GFS; b) an orderly progression of budgetary expenditure, the monthly budget deficit; c) balance the budget should be made cyclically in the recession have made higher expenses and budget deficits within 3% of GDP, while in periods of economic boom, the budget should have surplus or in balance ; d) a multiannual budget programs should be implemented based on ceilings and margins in commitment appropriations and budget appropriations; e) use of objective methods for ranking projects budget; f) Macroeconomic indicators on which it is built are often inflated budget on the revenue side in order to cover some sensitive expenditure; g) institution that assess these macroeconomic indicators should be independent of government, preferably from specialists or experts from Academy or foreigners as in Austria.

Keywords: multi-annual budget; budget reform; commitment and payment appropriations (search for similar items in EconPapers)
JEL-codes: A11 B22 F02 (search for similar items in EconPapers)
Date: 2015
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