The Role of Medium-Term Fiscal Frameworks for Transition Countries: The Case of Bulgaria

Balázs Horváth and Istvan P Szekely

No 2001/011, IMF Working Papers from International Monetary Fund

Abstract: This paper discusses the foundations for a medium-term fiscal framework for Bulgaria, a transition economy aspiring to join the European Union. The paper argues that a well-designed framework can help to enhance the credibility of macroeconomic policies and facilitate preparations for EU membership. It presents an illustrative scenario for Bulgaria, utilizing a broad concept of net public debt.

Keywords: WP; interest rate; private sector; debt ratio; net present value; reserve account; tax rate; Fiscal management; medium-term fiscal framework; transition experience; priority expenditure program; expenditure reform; expenditure measure; expenditure arrears; government expenditure responsibility; interest expenditure; EU accession; budgetary interest expenditure; profit tax; Medium-term budget frameworks; Budget planning and preparation; Global (search for similar items in EconPapers)
Pages: 31
Date: 2001-01-01
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Citations: View citations in EconPapers (2)

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Journal Article: The Role of Medium-Term Fiscal Frameworks for Transition Countries: The Case of Bulgaria (2003)
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