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Fiscal Rules for the Western Balkans

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dc.contributor.authorKikoni, Edith
dc.contributor.authorMadzarevic-Sujster, Sanja
dc.contributor.authorIrwin, Tim
dc.contributor.authorJooste, Charl
dc.date.accessioned2019-08-22T16:42:31Z
dc.date.available2019-08-22T16:42:31Z
dc.date.issued2019-08
dc.description.abstractPolicy toward fiscal rules is an important issue in the countries of the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia). According to a rough estimate, the countries with rules (all but North Macedonia) have complied with their debt and overall-deficit rules a little more than half the time. An online survey, conducted for this paper, suggests that public understanding of the rules is limited, which may reduce the political pressure for compliance. To get debt down to prudent levels, Albania and Montenegro will need a strong commitment to complying with their fiscal rules and will often have to do more than their deficit rules require. The following principles should guide future policy toward fiscal rules: more emphasis should be given to ensuring that fiscal rules are widely understood and enjoy the support of a broad range of stakeholders; policy toward the rules should be consistent with accession to the European Union, but the rules should be simpler than the European Union's and the debt limits lower; limits in rules should not be mistaken for targets; and public financial management should be improved to support the implementation of rules.en
dc.identifierhttp://documents.worldbank.org/curated/en/992481566310183572/Fiscal-Rules-for-the-Western-Balkans
dc.identifier.doi10.1596/1813-9450-8990
dc.identifier.urihttps://hdl.handle.net/10986/32315
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 8990
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectFISCAL RULES
dc.subjectFISCAL POLICY
dc.subjectDEBT CEILING
dc.subjectDEFICIT CEILING
dc.subjectDEBT LIMIT
dc.subjectPUBLIC FINANCIAL MANAGEMENT
dc.subjectSTAKEHOLDER ENGAGEMENT
dc.subjectPOLITICAL ECONOMY
dc.subjectFISCAL GOVERNANCE
dc.titleFiscal Rules for the Western Balkansen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleFiscal Rules for the Western Balkans
okr.date.disclosure2019-08-20
okr.doctypePublications & Research
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/992481566310183572/Fiscal-Rules-for-the-Western-Balkans
okr.guid992481566310183572
okr.identifier.doi10.1596/1813-9450-8990
okr.identifier.externaldocumentum090224b087003741_1_0
okr.identifier.internaldocumentum31348284
okr.identifier.reportWPS8990
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/992481566310183572/pdf/Fiscal-Rules-for-the-Western-Balkans.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryAlbania
okr.region.countryBosnia and Herzegovina
okr.region.countryKosovo
okr.region.countryNorth Macedonia (Formerly the Former Yugoslav Republic of Macedonia)
okr.region.countryMontenegro
okr.region.countrySerbia
okr.statistics.combined3191
okr.statistics.dr992481566310183572
okr.statistics.drstats2351
okr.topicMacroeconomics and Economic Growth::Economic Policy, Institutions and Governance
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicMacroeconomics and Economic Growth::Political Economy
okr.topicPublic Sector Development::Public Sector Economics
okr.topicPublic Sector Development::Public Financial Management
okr.topicPublic Sector Development::Public Sector Expenditure Policy
okr.unitMacroeconomics, Trade and Investment Global Practice
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relation.isAuthorOfPublication.latestForDiscovery4cdd14e3-d673-5b41-bfda-166d60c2e404
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
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