{
  "title": "Slovak Republic: Technical Assistance Report-Implementing Public Expenditure Limits",
  "publication": "IMF Staff Country Reports, November 3, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2023/11/03/slovak-republic-technical-assistance-report-implementing-public-expenditure-limits-541102",
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  "summary": "This Technical Assistance Report on Slovak Republic discusses implementing public expenditure limits (PEL). The main objective behind the introduction of the PEL is to create an operational instrument to strengthen fiscal discipline and fiscal sustainability.",
  "sections": [
    {
      "heading": "Objective of the Public Expenditure Limits (PEL)",
      "content": "- Main objective: create an operational instrument to strengthen fiscal discipline and fiscal sustainability.\n- PEL introduction provides an opportunity to move beyond the annual budget and advance strategic budgeting into the medium term."
    },
    {
      "heading": "Strengthening the budget process: strategic phase and Fiscal Strategy Report",
      "content": "- The report proposes adding a strategic phase to the budget process, which is currently lacking.\n- Suggested starting element: a Fiscal Strategy Report outlining fiscal challenges and policy options for consideration by the Council of Ministers."
    },
    {
      "heading": "Recommendations, timing, and political opportunity",
      "content": "- Based on the report’s recommendations, the current caretaker government has a unique opportunity to propose an agenda of public financial management reforms to the new government that will emerge from the elections in September.\n- Recommendations draw heavily on the experience of countries that have to some extent successfully implemented PEL and progressively moved toward medium-term budgeting."
    },
    {
      "heading": "Implementation challenges and next steps",
      "content": "- Further detailed work will be needed to flesh out the precise laws, decrees, regulations, or processes that will need to be changed to kick start the reforms.\n- The report implies substantive follow-up across legal, regulatory, and procedural domains to operationalize PEL."
    },
    {
      "heading": "Subject coverage and keywords (as provided)",
      "content": "- Subject: Budget execution and treasury management, Budget planning and preparation, Expenditure, Fiscal policy, Fiscal space, International organization, Monetary policy, Public financial management (PFM)\n- Keywords: authorities of the Slovak Republic, budget chapter, Budget execution and treasury management, Budget planning and preparation, Fiscal space, PEL methodology, state budget, State secretary, Value-for-Money Unit\n\n---\n\n Content in this bundle\n\n- 1svkea2023001\n  - 1svkea2023001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1svkea2023001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: November 3, 2023",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400255618.002",
    "Main objective: create an operational instrument to strengthen fiscal discipline and fiscal sustainability.",
    "PEL introduction provides an opportunity to move beyond the annual budget and advance strategic budgeting into the medium term.",
    "The report proposes adding a strategic phase to the budget process, which is currently lacking.",
    "Suggested starting element: a Fiscal Strategy Report outlining fiscal challenges and policy options for consideration by the Council of Ministers.",
    "Based on the report’s recommendations, the current caretaker government has a unique opportunity to propose an agenda of public financial management reforms to the new government that will emerge from the elections in September.",
    "Recommendations draw heavily on the experience of countries that have to some extent successfully implemented PEL and progressively moved toward medium-term budgeting.",
    "Further detailed work will be needed to flesh out the precise laws, decrees, regulations, or processes that will need to be changed to kick start the reforms.",
    "The report implies substantive follow-up across legal, regulatory, and procedural domains to operationalize PEL.",
    "Subject: Budget execution and treasury management, Budget planning and preparation, Expenditure, Fiscal policy, Fiscal space, International organization, Monetary policy, Public financial management (PFM)",
    "Keywords: authorities of the Slovak Republic, budget chapter, Budget execution and treasury management, Budget planning and preparation, Fiscal space, PEL methodology, state budget, State secretary, Value-for-Money Unit",
    "**1svkea2023001**"
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