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Fiscal Transparency in EU Accession Countries

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  • William Allan
  • Taryn Parry
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    Abstract

    This paper discusses the findings of fiscal transparency reports on standards and codes (ROSCs) for most EU accession candidate countries. Emphasis is given to the need to establish effective and accountable medium-term budget frameworks to establish policy credibility and anchor adjustment programs to meet EU fiscal goals. Adoption of budgeting and accounting standards consistent with the IMF Government Finance Statistics Manual 2001 framework will also help link budget decisions to EU standards of fiscal reporting. More consistent and comprehensive coverage of off-budget activities is needed for assessing fiscal risk and sustainability. Finally, local government issues need to be addressed by many of these countries since EU fiscal goals are set with reference to general government. Progress in all of these areas can be monitored by keeping fiscal ROSC assessments up to date.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 03/163.

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    Length: 27
    Date of creation: 01 Aug 2003
    Date of revision:
    Handle: RePEc:imf:imfwpa:03/163

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    Postal: International Monetary Fund, Washington, DC USA
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    Related research

    Keywords: Fiscal transparency; European Union; budget activities; fiscal policy; annual budget; fiscal management; extrabudgetary funds; fiscal risks; external audit; budget process; medium-term budget; budget estimates; fiscal reporting; public financial institutions; contingent liabilities; fiscal targets; fiscal sustainability; government deficit; budget year; fiscal reports; fiscal responsibility; fiscal rules; budget requests; fiscal discipline; budget documentation; government finance statistics; fiscal data; fiscal activities; government finance; budget law; budget framework; budget review; fiscal reference; fiscal impact; government guarantees; fiscal risk; budget submissions; medium-term budget framework; budget execution; fiscal policies; fiscal deficit; accounting standards; government accounts; international accounting standards; budget preparation process; budget systems; accrual accounting; public finance; budget formulation; fiscal monitoring; fiscal information; annual budget process; budget management; budget decisions; budget documents; tax system; fiscal costs; debt service; fiscal vulnerability; national budget; quasi-fiscal activities; fiscal issues; medium-term macroeconomic framework; fiscal activity; fiscal relations; central government budget; government fiscal management; fiscal policy objectives; fiscal planning; fiscal policy rules; accounts classification; budget discussions; budget discipline; budget legislation; fiscal stress; fiscal position; budget projections; fiscal independence; budget preparation; medium-term fiscal projections; national accounts data; fiscal authorities; fiscal affairs department; national fiscal management; budget document; unrealistic budget; budget bids; annual budget formulation; tax base; budget review process; budget outturn; fiscal projections; financial management; fiscal responsibility act; intergovernmental fiscal relations; government accounting; accountability mechanisms; public spending; internal control; fiscal consolidation; budget management systems; national accounts; fiscal objectives; fiscal adjustments; state budget; intergovernmental fiscal; budget coverage; budget decision; fiscal policy frameworks; national fiscal rules; budget control; current budget; budget constraints; fiscal responsibility law; government obligations; government budget; statement of fiscal policy objectives; excessive deficit procedure; fiscal decision; budget plans; financial management reform; budgetary expenditure; fiscal reporting requirements; budget expenditures; government policies; government payment; long-term fiscal sustainability; fiscal balance; budgetary activities; cash accounting; internal audit; fiscal adjustment; fiscal affairs; budget measures; fiscal implications; accounting practices; budget outcomes; taxation; central government fiscal; budget transfers;

    References

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    1. George Kopits & Steven A. Symansky, 1998. "Fiscal Policy Rules," IMF Occasional Papers 162, International Monetary Fund.
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    Cited by:
    1. Helge Berger & George Kopits & István P. Székely, 2007. "Fiscal Indulgence In Central Europe: Loss Of The External Anchor?," Scottish Journal of Political Economy, Scottish Economic Society, vol. 54(1), pages 116-135, 02.
    2. Nina Budina & Hana Polackova Brixi & Timothy Irwin, 2007. "Public-Private Partnerships in the New EU Member States," World Bank Publications, The World Bank, number 6743, October.
    3. Győrffy, Dóra, 2005. "Az intézményi tényezők szerepe az államháztartási hiány alakulásában Magyarországon
      [The role of institutional factors in the development of budget deficit in Hungary]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(10), pages 755-773.
    4. International Monetary Fund, 2005. "Fiscal Transparency and Economic Outcomes," IMF Working Papers 05/225, International Monetary Fund.
    5. George Kopits & Helge Berger & István P. Székely, 2004. "Fiscal Indulgence in Central Europe," IMF Working Papers 04/62, International Monetary Fund.

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