Fiscal Transparency in EU Accession Countries: Progress and Future Challenges
August 1, 2003
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Summary
This paper discusses the findings of fiscal transparency reports on standards and codes (ROSCs) for most EU accession candidate countries. Emphasis is given to the need to establish effective and accountable medium-term budget frameworks to establish policy credibility and anchor adjustment programs to meet EU fiscal goals. Adoption of budgeting and accounting standards consistent with the IMF Government Finance Statistics Manual 2001 framework will also help link budget decisions to EU standards of fiscal reporting. More consistent and comprehensive coverage of off-budget activities is needed for assessing fiscal risk and sustainability. Finally, local government issues need to be addressed by many of these countries since EU fiscal goals are set with reference to general government. Progress in all of these areas can be monitored by keeping fiscal ROSC assessments up to date.
Subject: Budget planning and preparation, Fiscal accounting and reporting, Fiscal policy, Fiscal risks, Fiscal transparency, Public financial management (PFM)
Keywords: Baltics, Budget planning and preparation, candidate country, costed government policy, EU Accession, EU accession countries, Fiscal accounting and reporting, Fiscal risks, Fiscal Transparency, government activity, government transaction, modernizing government accounting, WP
Pages:
27
Volume:
2003
DOI:
Issue:
163
Series:
Working Paper No. 2003/163
Stock No:
WPIEA1632003
ISBN:
9781451857955
ISSN:
1018-5941
