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

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

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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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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  1. Balazs Egert & Tomasz Kozluk & Douglas Sutherland, 2009. "Infrastructure and Growth: Empirical Evidence," William Davidson Institute Working Papers Series wp957, William Davidson Institute at the University of Michigan.
  2. George Kopits, 2011. "Independent Fiscal Institutions: Developing Good Practices," OECD Journal on Budgeting, OECD Publishing, vol. 11(3), pages 1-18.
  3. Douglas Sutherland & Robert W.R. Price & Isabelle Joumard & Chantal Nicq, 2007. "Performance Indicators for Public Spending Efficiency in Primary and Secondary Education," OECD Economics Department Working Papers 546, OECD Publishing.
  4. Isabelle Joumard & Christophe André & Chantal Nicq, 2010. "Health Care Systems: Efficiency and Institutions," OECD Economics Department Working Papers 769, OECD Publishing.
  5. Douglas Sutherland & Sonia Araujo & Balázs Égert & Tomasz Koźluk, 2009. "Infrastructure Investment: Links to Growth and the Role of Public Policies," OECD Economics Department Working Papers 686, OECD Publishing.
  6. Joumard, Isabelle & Price, Robert & Gonand, Frédéric, 2007. "Public Spending Efficiency: Institutional Indicators in Primary and Secondary Education," Economics Papers from University Paris Dauphine 123456789/11017, Paris Dauphine University.
  7. Douglas Sutherland & Peter Hoeller & Rossana Merola, 2012. "Fiscal Consolidation: How Much, How Fast and by What Means?," OECD Economic Policy Papers 1, OECD Publishing.
  8. Michal Horvath & Ludivit Odor, 2009. "Making Fiscal Commitments Credible," Working and Discussion Papers DP 2/2009, Research Department, National Bank of Slovakia.
  9. Sónia Araújo & Douglas Sutherland, 2010. "Public-Private Partnerships and Investment in Infrastructure," OECD Economics Department Working Papers 803, OECD Publishing.
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