The Macroeconomic and Institutional Context of the 2012 Budget
AbstractIn my paper, I look at the 2012 budget from two distinct points of view. Approaching from the perspective of the economic environment, I describe the most important lessons and relevant empirical experiences of budgetary adjustments as well as the topical macroeconomic and budgetary processes providing the foundation for next year’s budget. The second half of the paper discusses the institutional environment of the adoption of the budget. The paper presents the tasks related to the preparation and adoption of the 2012 budget, providing assistance for the legislative work of Parliament adopted by the Fiscal Council and which also follow from the new Constitution adopted in April. In addition, I shall also give an overview of the analyses provided by the Hungarian National Bank (MNB) to be used by the Fiscal Council in its relevant work.
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Bibliographic InfoArticle provided by State Audit Office of Hungary in its journal Public Finance Quarterly.
Volume (Year): 56 (2011)
Issue (Month): 3 ()
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Web page: http://www.asz.hu
budgetary consolidation; macroeconomic path; Fiscal Council;
Find related papers by JEL classification:
- G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
- H6 - Public Economics - - National Budget, Deficit, and Debt
- E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
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- repec:fth:eeccco:148 is not listed on IDEAS
- JÃ¼rgen von Hagen & Andrew Hughes Hallett & Rolf Strauch, 2001. "Budgetary Consolidation in EMU," European Economy - Economic Papers 148, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
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