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

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.

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Year of publication:	2001-01-01
Authors:	Horváth, Balázs ; Székely, István P.
Institutions:	International Monetary Fund (IMF)
Subject:	Fiscal management \| fiscal framework \| medium-term fiscal framework \| pension \| public debt \| fiscal policy \| revenue collection \| tax rates \| fiscal risk \| foreign debt \| fiscal position \| tax rate \| health care \| fiscal strategy \| pension schemes \| contribution rates \| fiscal targets \| fiscal vulnerability \| tax base \| contingent liabilities \| budget constraint \| pension system \| fiscal operations \| pension scheme \| tax administration \| tax revenue \| pensions \| fiscal sustainability \| funded pension \| annual budgets \| fiscal risks \| annual budget \| pension reform \| medium-term fiscal frameworks \| fiscal affairs \| fiscal stance \| payroll taxes \| formal sector \| moral hazard \| health systems \| pension liabilities \| fiscal adjustment \| long-term projection \| budget deficit \| tax reduction \| fiscal frameworks \| interest expenditure \| fiscal aggregates \| tax cuts \| long-term forecasts \| fiscal liabilities \| pension debt \| fiscal reforms \| government solvency \| tax revenues \| unfunded pension \| national budget \| fiscal expansion \| tax burden \| government expenditures \| general government expenditures \| public pension \| foreign borrowing \| informal sector \| budget consolidation \| fiscal priorities \| fiscal institution \| labor income \| future pension \| subnational government expenditure \| contribution rate \| medium-term fiscal projections \| funded components \| government revenue \| fiscal affairs department \| fiscal policies \| local taxes \| federal government budget \| pension reforms \| fiscal laxity \| fiscal affairs departments \| tax avoidance \| fiscal projections \| discretionary fiscal policy \| foreign capital \| fiscal rules \| public expenditure \| early retirements \| aging population \| health care system \| tax wedge \| retirement \| tax reform \| budget constraints \| budget deficits \| fiscal solvency \| retirement age \| fiscal stimulus \| fiscal objectives \| tax wedge on labor \| primary expenditure \| prudent fiscal policies \| budget systems \| pensioners \| public pension schemes \| fiscal scenario \| budget preparation process \| fiscal balance \| unfunded pension liabilities \| government expenditure \| value of pension \| fiscal performance \| primary deficit \| future pensions \| government budget \| fiscal transparency \| retirements \| medium-term fiscal sustainability \| level of indebtedness \| fiscal constraints \| expenditure programs

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Extent:	application/pdf
Series:	IMF Working Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Working Papers Number 01/11 3 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005826341