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

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  • BALÁZS HORVÁTH
  • ISTVÁN P. SZÉKELY

Abstract

This paper discusses the foundations for a medium-term fiscal framework for Bulgaria, a transition economy aspiring to join the European Union (EU). 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.

Suggested Citation

  • Balázs Horváth & István P. Székely, 2003. "The Role of Medium-Term Fiscal Frameworks for Transition Countries : The Case of Bulgaria," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 39(1), pages 86-113, January.
    • Handle: RePEc:mes:emfitr:v:39:y:2003:i:1:p:86-113
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    Cited by:

    1. Ivona G. Yakimova, 2004. "The Market Transition in Bulgaria – On Route To A Regulated Market Economy," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 89-123.
    2. World Bank, 2003. "Serbia and Montenegro : Public Expenditure and Institutional Review, Volume 2. Serbia," World Bank Publications - Reports 14823, The World Bank Group.

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