Quasi-Fiscal Deficit in Non-Financial Enterprises

ByRobert Tchaidze

January 1, 2007

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper discusses two ways of evaluating the quasi-fiscal deficit (QFD) and the link between them. It also suggests how to properly account for the QFD when calculating the overall deficit of the public sector. Finally, using an example of the energy market, it shows how to untangle a web of mutual nonpayments and properly evaluate the QFD generated in a sector characterized by the presence of both private and public agents.

Subject: Arrears, Budget planning and preparation, Economic sectors, External debt, Government debt management, Public enterprises, Public financial management (PFM), Public sector

Keywords: Arrears, budget deficit, Budget planning and preparation, enterprise E, generating company, Government debt management, implicit subsidies, nonfinancial enterprise, payment arrears, payment collection ratio, Public sector, quasi-fiscal deficit, tax arrears, utility company, WP

Pages:
13
Volume:
2007
DOI:
https://doi.org/10.5089/9781451865745.001
Issue:
010
Series:
Working Paper No. 2007/010
Stock No:
WPIEA2007010
ISBN:
9781451865745
ISSN:
1018-5941

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