Fiscal Responsibility Laws (FRLs) appear to be more popular in middle-income countries than advanced countries, even though their success is limited. The reasons why few advanced countries have a FRL include: the existing legal framework for the budget system is adequate; supranational rules and...

Law no. 273 of June 29, 2006 on local public finance has been (partially) operating since the 2007 fiscal year. It establishes the principles, the general framework and the procedures for training, administration, employment and utilization of local public funds, as well as the responsibilities...

This article proposes to present some general issues related to budgetary transparency (principles promoted especially in UE and OECD countries). Further, these we analyze how these principles are and could be implemented by Romanian local level. After pr

The budgetary consolidation has become a current practice in Romania, but the ways in which it is realized and the consolidation rules take on only partially the standard procedure that are used at the European and world level. Furthermore, adapting the budgetary consolidation procedure has to...

Being a succession of stages through which the local budgets are crossing as financial balances, in connection with the substantialisation and the achievement of the registered indicators in these, the local budgetary process is ruled by a series of principles. These are a synthesis of the...

In preparing for the discussions of the Iraqi Constituent Assembly, IMF and World Bank staff and consultant experts presented to senior officials from the central and local governments in Iraq, including from Kurdistan, key options that might be relevant for the discussions. This paper reflects...