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


  • Balázs Horváth
  • Istvan P Szekely


This paper discusses the foundations for a medium-term fiscal framework for Bulgaria, a transition economy aspiring to join the European Union. 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 & Istvan P Szekely, 2001. "The Role of Medium-Term Fiscal Frameworks for Transition Countries; The Case of Bulgaria," IMF Working Papers 01/11, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:01/11

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    References listed on IDEAS

    1. Polackova Brixi, Hana & Shatalov, Sergei & Zlaoui, Leila, 2000. "Managing fiscal risk in Bulgaria," Policy Research Working Paper Series 2282, The World Bank.
    2. Corsetti, G., 1990. "Testing For Solvency Of Public Sector: An Application To Italy," Papers 617, Yale - Economic Growth Center.
    3. Sheetal K. Chand & Albert Jaeger, 1996. "Aging Populations and Public Pension Schemes," IMF Occasional Papers 147, International Monetary Fund.
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    Cited by:

    1. Kiril Tochkov & Nikolay Nenovsky, 2011. "Institutional Reforms, EU Accession, and Bank Efficiency in Transition Economies: Evidence from Bulgaria," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 47(1), pages 113-129, January.
    2. World Bank, 2003. "Serbia and Montenegro : Public Expenditure and Institutional Review, Volume 2. Serbia," World Bank Other Operational Studies 14823, The World Bank.
    3. 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.


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