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Improving the Fiscal Framework to Enhance Growth in an Era of Fiscal Consolidation in Slovakia

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Author Info

  • Caroline Klein
  • Robert W.R. Price
  • Andreas Wörgötter

Abstract

The challenge for fiscal policy in Slovakia is to achieve fiscal consolidation in a way which supports the fragile recovery and protects spending on areas which are important for re-embarking on a trajectory of high trend growth and underpinning a catch-up in living standards. While the recently established fiscal rules have significantly improved the fiscal framework, a further strengthening in medium-term fiscal discipline will be necessary to avoid pro-cyclical fiscal policy. Raising the effectiveness of tax collection, reforming the tax structure towards less distortive taxes and making more out of available EU funds would also play a helpful role in a growth-friendly fiscal consolidation. Finally, more needs to be done to ensure an adequate prioritisation of spending and an efficient use of public revenues. In particular, stepping up the analytical monitoring, evaluation and assessment capacity in spending ministries should help to rein in wasteful spending. This Working Paper relates to the 2012 OECD Economic Survey of the Slovak Republic (www.oecd.org/eco/surveys/slovakia2012). Améliorer le cadre budgétaire pour favoriser la croissance en période d'assainissement budgétaire en Slovaquie Le défi pour la politique budgétaire en Slovaquie est d'assainir les finances publiques d'une manière qui soutienne la reprise fragile et protège les dépenses dans des domaines permettant de reprendre une trajectoire de forte croissance tendancielle et de poursuivre le rattrapage en termes de niveau de vie. Bien que les règles fiscales récemment établies aient considérablement amélioré le cadre budgétaire, un renforcement de la discipline budgétaire de moyen terme sera nécessaire pour éviter une politique budgétaire pro-cyclique. Accroître l'efficacité du recouvrement des impôts, reformer la fiscalité en faveur d’impôts moins distorsifs et mieux utiliser les fonds de l'UE disponibles pourrait également aider à une consolidation budgétaire favorable à la croissance. Enfin, il reste encore beaucoup à faire pour assurer une hiérarchisation adéquate des dépenses et une utilisation efficace des revenus publics. En particulier, le développement des capacités analytiques de suivi et d'évaluation dans les ministères devraient contribuer à freiner les dépenses inutiles. Ce Document de travail se rapporte à l'Étude économique de l'OCDE de la République slovaque 2012 (www.oecd.org/eco/etudes/slovaquie2012 ).

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Bibliographic Info

Paper provided by OECD Publishing in its series OECD Economics Department Working Papers with number 1018.

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Date of creation: 29 Jan 2013
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Handle: RePEc:oec:ecoaaa:1018-en

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Keywords: tax administration; Slovakia; fiscal policy; budgetary framework; public debt sustainability; viabilité de la dette publique; cadre budgétaire; Slovaquie; administration fiscale; politique budgétaire;

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Cited by:
  1. Burret, Heiko T. & Schnellenbach, Jan, 2013. "Umsetzung des Fiskalpakts im Euro-Raum: Expertise im Auftrag des Sachverständigenrates zur Begutachtung der gesamtwirtschaftlichen Entwicklung," Working Papers 08/2013, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung.

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