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Author: Ivailo V. Izvorski Publisher: World Bank Publications ISBN: 9780821374511 Category : Political Science Languages : en Pages : 120
Book Description
The countries of Southeast Europe have undergone a significant transition over the past decade. Helped by macroeconomic stabilization and efforts in advancing structural reforms, real GDP growth has picked up this century. Fiscal adjustment has been an integral part of the transition. Expenditure cuts have helped trim spending relative to GDP in most countries in the region and cut fiscal deficits everywhere except in Serbia. Progress in fiscal consolidation has been substantial, but in several of the countries the government's presence in the economy remains oversized. Costs related to advancing EU integration and completing reforms are expected to generate further pressures for public spending. Creating the fiscal space for addressing such pressures would require a further reduction in existing spending, given that there is still scope for increasing tax rates. The report identifies key remaining challenges and proposes a menu of options in further reforms in sectors that account for the largest shares of public spending, and where reforms are likely to have significant budgetary implications. The sectors discussed in the report are social protection, health, education, public administration, and infrastructure.
Author: Ivailo V. Izvorski Publisher: World Bank Publications ISBN: 9780821374511 Category : Political Science Languages : en Pages : 120
Book Description
The countries of Southeast Europe have undergone a significant transition over the past decade. Helped by macroeconomic stabilization and efforts in advancing structural reforms, real GDP growth has picked up this century. Fiscal adjustment has been an integral part of the transition. Expenditure cuts have helped trim spending relative to GDP in most countries in the region and cut fiscal deficits everywhere except in Serbia. Progress in fiscal consolidation has been substantial, but in several of the countries the government's presence in the economy remains oversized. Costs related to advancing EU integration and completing reforms are expected to generate further pressures for public spending. Creating the fiscal space for addressing such pressures would require a further reduction in existing spending, given that there is still scope for increasing tax rates. The report identifies key remaining challenges and proposes a menu of options in further reforms in sectors that account for the largest shares of public spending, and where reforms are likely to have significant budgetary implications. The sectors discussed in the report are social protection, health, education, public administration, and infrastructure.
Author: OECD Publisher: OECD Publishing ISBN: 9264298576 Category : Languages : en Pages : 704
Book Description
Future economic development and the well-being of citizens in South East Europe (SEE) increasingly depend on greater economic competitiveness. Realising the region’s economic potential requires a holistic, growth-oriented policy approach. Against the backdrop of enhanced European Union (EU) ...
Author: European Commission. Directorate-General for Economic and Financial Affairs Publisher: ISBN: Category : Budget Languages : en Pages : 92
Book Description
Recoge: Composition and quality of public expenditures in the EU - Improving the efficiency of public expenditure - Growth-enhancing and high-quality expenditure in the EU budgetary framework - A way forward for the assessment of quality of public expenditures in the EU.
Author: Anil Ari Publisher: ISBN: 9781513550558 Category : Languages : en Pages : 123
Book Description
CESEE countries lag in terms of infrastructure compared to the EU15, and deficient infrastructure is often cited as a constraint to growth and convergence. Investing in infrastructure is therefore an important long-standing policy issue for the region. In the context of the Covid-19 pandemic, infrastructure investment has also gained some ground as economies look to support activity in the recovery phase once the virus has been contained. Against this backdrop, this project seeks to benchmark infrastructure in CESEE, assess the macro impact of higher infrastructure investment, and discuss policies issues to maximize such impact. First, we benchmark infrastructure in the region versus the EU15, across various infrastructure sectors and using different methodologies. Second, deploying empirical estimates and model-based simulations, we analyze the macroeconomic impact of boosting infrastructure investment. Third, we present an in-depth analysis of policy issues: enhancing public investment management, managing fiscal risks, and mobilizing private sector participation.
Author: OECD Publisher: OECD Publishing ISBN: 9264192603 Category : Languages : en Pages : 504
Book Description
Managing Public Expenditure presents a comprehensive and in-depth analysis of all aspects of public expenditure management from the preparation of the budget to the execution, control and audit stages.
Author: Publisher: World Bank Publications ISBN: 0821363956 Category : Medical Languages : en Pages : 224
Book Description
In recent years, Europe and Central Asia has experienced the world's fastest growing HIV/AIDS epidemic. Yet, in the Western Balkan countries the HIV prevalence rate is under 0.1 percent, which ranks among the lowest. This may be due to a low level of infection among the population--or partly due to inadequate surveillance systems. All major contributing factors for the breakout of an HIV/AIDS epidemic are present in the Western Balkans. HIV/AIDS disproportionably affects youth (80 percent of HIV-infected people are 30 years old or younger). Most of the Western Balkan countries have very young p.
Author: Mr.Ruben V Atoyan Publisher: International Monetary Fund ISBN: 1475576366 Category : Social Science Languages : en Pages : 48
Book Description
This paper analyses the impact of large and persistent emigration from Eastern European countries over the past 25 years on these countries’ growth and income convergence to advanced Europe. While emigration has likely benefited migrants themselves, the receiving countries and the EU as a whole, its impact on sending countries’ economies has been largely negative. The analysis suggests that labor outflows, particularly of skilled workers, lowered productivity growth, pushed up wages, and slowed growth and income convergence. At the same time, while remittance inflows supported financial deepening, consumption and investment in some countries, they also reduced incentives to work and led to exchange rate appreciations, eroding competiveness. The departure of the young also added to the fiscal pressures of already aging populations in Eastern Europe. The paper concludes with policy recommendations for sending countries to mitigate the negative impact of emigration on their economies, and the EU-wide initiatives that could support these efforts.
Author: OECD Publisher: OECD Publishing ISBN: 9264250522 Category : Languages : en Pages : 444
Book Description
Future economic development and the wellbeing of citizens in South East Europe (SEE) depend more than ever on greater economic competitiveness. To underpin the drive to improve competitiveness and foster private investment, an integrated policy approach is needed.
Author: Dilyana Dimova Publisher: International Monetary Fund ISBN: 1498343090 Category : Business & Economics Languages : en Pages : 81
Book Description
This paper presents a detailed account of the rich set of macroprudential measures taken in four Southeastern European countries—Bulgaria, Croatia, Romania, and Serbia—during their synchronized boom and bust cycles in 2003–12, and assesses their effectiveness. We find that only strong measures helped contain domestic credit growth, the share of foreigncurrency- denominated loans provided by the domestic banking sector, or the domestic banking sector’s reliance on foreign borrowing during the boom years. We also find that circumvention via direct external borrowing often fully offset the effectiveness of these strict measures, and thatmeasures taken during the bust had no discernible impact. We conclude that (i) proper calibration of macroprudential measures is of the essence; (ii) only strong, broad-based macroprudential measures can contain credit booms; (iii) econometric studies of macroprudential policy effectiveness should focus on measures rather than on instruments (i.e. classes of measures) and in so doing allow for possible non-linear and state-contingent effects.
Author: Ivailo V. Izvorski
Author: Ivailo V. Izvorski
Author: 
Author: OECD
Author: European Commission. Directorate-General for Economic and Financial Affairs
Author: Anil Ari
Author: OECD
Author: 
Author: Mr.Ruben V Atoyan
Author: OECD
Author: Dilyana Dimova