{
  "title": "Fiscal Reform in European Economies in Transition",
  "publication": "IMF Working Papers, April 1, 1991",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/fiscal-reform-in-european-economies-in-transition-920",
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  "summary": "Most European economies in transition are engaged in public sector reform aimed mainly at replacing the previous fiscal system subordinated to the central plan with a system where fiscal instruments can make a distinct contribution to stabilization, equity, and efficiency.",
  "sections": [
    {
      "heading": "Summary and key findings",
      "content": "- Most European economies in transition are engaged in public sector reform aimed mainly at replacing the previous fiscal system subordinated to the central plan with a system where fiscal instruments can make a distinct contribution to stabilization, equity, and efficiency.\n- The paper examines past progress and future tasks in major reform areas: taxation, subsidies, social security, public investment, public enterprises, government debt, and intergovernmental relations.\n- An overview of the fiscal reform process suggests that the contraction and restructuring of government operations are not likely to materialize soon and that there is a serious risk of widening fiscal imbalances during the transition."
    },
    {
      "heading": "Major reform areas examined",
      "content": "- Taxation\n- Subsidies\n- Social security\n- Public investment\n- Public enterprises\n- Government debt\n- Intergovernmental relations"
    },
    {
      "heading": "Assessment and outlook",
      "content": "- Progress to date has not yet produced the contraction and restructuring of government operations necessary to align fiscal structures with market-oriented objectives.\n- There is a serious risk of widening fiscal imbalances during the transition if reforms do not accelerate or are not effectively implemented."
    },
    {
      "heading": "Policy implications and tasks ahead",
      "content": "- Replace fiscal systems subordinated to the central plan with systems where fiscal instruments contribute to stabilization, equity, and efficiency.\n- Address taxation, subsidies, social security, public investment, public enterprises, government debt, and intergovernmental relations as priority reform areas to avoid widening fiscal imbalances.\n\nFiscal Reform in European Economies in Transition — George Kopits, April 1, 1991.\n\n---\n\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/fiscal-reform-in-european-economies-in-transition-920"
    }
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    "Authors: George Kopits",
    "Published: April 1, 1991",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451846256.001",
    "Most European economies in transition are engaged in public sector reform aimed mainly at replacing the previous fiscal system subordinated to the central plan with a system where fiscal instruments can make a distinct contribution to stabilization, equity, and efficiency.",
    "The paper examines past progress and future tasks in major reform areas: taxation, subsidies, social security, public investment, public enterprises, government debt, and intergovernmental relations.",
    "An overview of the fiscal reform process suggests that the contraction and restructuring of government operations are not likely to materialize soon and that there is a serious risk of widening fiscal imbalances during the transition.",
    "Taxation",
    "Subsidies",
    "Social security",
    "Public investment",
    "Public enterprises",
    "Government debt",
    "Intergovernmental relations",
    "Progress to date has not yet produced the contraction and restructuring of government operations necessary to align fiscal structures with market-oriented objectives.",
    "There is a serious risk of widening fiscal imbalances during the transition if reforms do not accelerate or are not effectively implemented.",
    "Replace fiscal systems subordinated to the central plan with systems where fiscal instruments contribute to stabilization, equity, and efficiency.",
    "Address taxation, subsidies, social security, public investment, public enterprises, government debt, and intergovernmental relations as priority reform areas to avoid widening fiscal imbalances."
  ],
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