Romania Fiscal Transparency Evaluation
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Romania
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2015-03-11
Romania written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-11 with Business & Economics categories.
The paper discusses recommendations made in a fiscal transparency evaluation report for Romania. Seven recommendations are made to improve the level of information available to decision makers and the public. The report recommends reducing fragmentation of existing fiscal reporting and expanding the institutional coverage to include the wider public sector. It also recommends improving the timeliness, quality, and integrity of fiscal reports and financial statements through publishing reconciliations between cash and accrual based reports and enforcing strict timelines for publication of financial statements.
Finland
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2015-03-11
Finland written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-11 with Business & Economics categories.
This paper discusses key findings of fiscal transparency evaluation for Finland. It highlights that Finland meets most of the principles of the Fiscal Transparency Code at good or advanced level. Some areas, notably related to the analysis and management of fiscal risks, are still rated as basic or below, but with a few exceptions the importance of these areas for fiscal management in Finland is relatively low. Overall, the Finnish authorities produce an impressive amount of data and information related to all three pillars of the Code. It is also highlighted that fiscal reporting in Finland is transparent and meets good or advanced practice in all areas.
Romania
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2002-11-18
Romania written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-11-18 with Business & Economics categories.
This report assesses the Observance of Standards and Codes on Fiscal Transparency for Romania. Romania has made progress in improving fiscal transparency. Over the last few years, the pace of reforms in this area and in strengthening the management of public finances has intensified, with the strong commitment to European Union accession serving as a catalyst. This has led to a significant amount of relevant legislation that has either been passed recently or is in the final approval stages.
Global Forum On Transparency And Exchange Of Information For Tax Purposes Romania 2024 Second Round Peer Review Report On The Exchange Of Information On Request
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2024-03-28
Global Forum On Transparency And Exchange Of Information For Tax Purposes Romania 2024 Second Round Peer Review Report On The Exchange Of Information On Request written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-28 with categories.
This peer review report analyses the practical implementation of the standard of transparency and exchange of information on request in Romania, as part of the second round of reviews conducted by the Global Forum on Transparency and Exchange of Information for Tax Purposes since 2016.
Republic Of Estonia Technical Assistance Report Fiscal Transparency Evaluation
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-08-06
Republic Of Estonia Technical Assistance Report Fiscal Transparency Evaluation written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-06 with Business & Economics categories.
The government of Estonia places a high importance on openness and transparency, both for their citizens and for regional and international partners. This is evidenced from various earlier reports on transparency and the implementation of many subsequent improvements in fiscal transparency practices. The objective of the assessment was to identify areas of fiscal risk vulnerabilities and reform priorities to ensure further improvements in transparent practices.
Portugal
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2014-10-06
Portugal written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-06 with Business & Economics categories.
EXECUTIVE SUMMARY Portugal’s practices meet most of the principles of the revised Fiscal Transparency Code at good or advanced levels. A number of areas still present practices at a basic level, but in most of these cases this reflects reforms that have recently been launched and have not yet been fully implemented so as to affect current practices. Indeed, if measured against the practices observed prior to the recent financial crisis, there has been remarkable progress. The challenge is to press ahead with the reform agenda so that all fiscal transparency practices meet good or advanced levels, thus strengthening even further the management of public finances and the associated risks. The key findings of the present Fiscal Transparency Evaluation are: • Fiscal reporting is in line with good or advanced practices, particularly in compliance with EU requirements and ESA 95 standards, but still lacks a sound conceptual accounting framework based on internationally accepted standards. • Fiscal forecasting and budgeting have improved over the last three years, although investment evaluation only meets the basic standard of the Code. • Reporting of fiscal risks is in its infancy and in spite of numerous initiatives undertaken in the last few years, such as the publication of a fiscal risk statement, remains fragmented. The large amount and good quality of information available allows a very preliminary and partial estimate of the public sector net worth and total risk exposure. An estimated negative net worth position of 140 percent of GDP (including the liabilities of the main defined-benefits employment-related pension scheme) and a sizeable exposure to various contingent liabilities, although some of these have a low probability of crystallizing, are reminders of the still fragile status of Portugal’s public finances.
Austria
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-27
Austria written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-27 with Business & Economics categories.
This paper evaluates the state of fiscal transparency in Austria. Austria has built strong fiscal institutions over the past decade, notably through the budget reforms introduced in 2009 and 2013, which have significantly improved fiscal transparency. Many elements of sound fiscal transparency practices are in place in Austria. Fiscal reports, covering a substantial part of public activities, are published in a frequent and timely manner and include reconciliations between alternative measures of fiscal aggregates. Budgets and forecasts have a clearer medium-term and performance-oriented focus, and are guided by clear fiscal policy objectives, the compliance with which is subject to independent scrutiny. In addition, there is regular, high-quality reporting on the long-term sustainability of public finances.
Chile Fiscal Transparency Evaluation
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-11-11
Chile Fiscal Transparency Evaluation written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-11 with Business & Economics categories.
Strong fiscal institutions have contributed to Chile’s macroeconomic stability, and recent reform initiatives have focused on enhancing these institutions and fiscal transparency. This report assesses fiscal transparency practices in Chile in relation to the requirements of the IMF’s Fiscal Transparency Code and confirms that many elements of sound fiscal transparency practices are already in place. Chile’s practices meet the principles of the code at a good or advanced level for 21 out of the 36 principles. This is a good score, compared to the average for Latin American Countries and Emerging Market Economies. On a further nine principles, Chile meets the basic standard of practice. Chile’s fiscal transparency practices are very strong for fiscal forecasting and budgeting, followed by fiscal reporting, while fiscal risk analysis and management demonstrate more mixed results. Further improvements could be achieved relatively easily through the publication of some internal analyses or through a more timely or user-friendly publication of already available information.
Republic Of Lithuania
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-03
Republic Of Lithuania written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-03 with Business & Economics categories.
This Fiscal Transparency Evaluation (FTE) paper on the Republic of Lithuania estimated Lithuania’s public sector financial position to take a more comprehensive view of public finances in Lithuania. While Lithuania’s overall assessment is comparable to or better than other EU Member States that have undergone an FTE, there is room for further improvement. While the Lithuanian authorities publish a large volume of fiscal reports, they are somewhat fragmented and not easily comparable. The paper also highlights that fiscal risk analysis and management also meets good or advanced practice in many areas but are slightly weaker than the other pillars of the evaluation. It is recommended to consolidate the present array of fiscal reports into a smaller number of user-friendly reports that improve the consistency and comparability of information, as well as its transparency. The report also provides a more detailed evaluation of Lithuania’s fiscal transparency practices and recommended reform priorities.
Fiscal Transparency In Eu Accession Countries
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Author : Mr.William Allan
language : en
Publisher: International Monetary Fund
Release Date : 2003-08-01
Fiscal Transparency In Eu Accession Countries written by Mr.William Allan and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-08-01 with Business & Economics categories.
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.