Montenegro Pre-accession Economic Programme 2011
... In a nutshell, the fiscal policy of Montenegro in the coming period will be based on the consistent fiscal policy, where the consistency implies the continuation of fiscal consolidation, decrease of deficit and creating of conditions for reduction of public debt, while providing fiscal reserves. The ...
... In a nutshell, the fiscal policy of Montenegro in the coming period will be based on the consistent fiscal policy, where the consistency implies the continuation of fiscal consolidation, decrease of deficit and creating of conditions for reduction of public debt, while providing fiscal reserves. The ...
EN EN Executive summary 1. Scene setter: economic situation and
... automotive industry will support investment in 2015 and 2016. Export growth, on the other hand, ...
... automotive industry will support investment in 2015 and 2016. Export growth, on the other hand, ...
LCCARL272_en.pdf
... The rapid slowdown in economic activity in the Caribbean subregion in 2009 was due to the impact of the global recession, which depressed commodity prices, travel receipts and external demand. In 2009, the economies of the more developed Caribbean countries (MDCs)1 declined by 1.2%, led by the decli ...
... The rapid slowdown in economic activity in the Caribbean subregion in 2009 was due to the impact of the global recession, which depressed commodity prices, travel receipts and external demand. In 2009, the economies of the more developed Caribbean countries (MDCs)1 declined by 1.2%, led by the decli ...
EUROPEAN COMMISSION Brussels, 26.2.2016 SWD(2016) 90 final
... During the crisis, high fiscal deficits and significant assumption of liabilities of public enterprises have resulted in a sharp increase in public debt. In recent years, fiscal consolidation has been predominantly based on revenueincreasing measures rather than permanent expenditure reductions, als ...
... During the crisis, high fiscal deficits and significant assumption of liabilities of public enterprises have resulted in a sharp increase in public debt. In recent years, fiscal consolidation has been predominantly based on revenueincreasing measures rather than permanent expenditure reductions, als ...
Volatilidad para Columbia
... for durable consumer goods, while limiting government’s capacity to adopt countercyclical measures. Although remittances vary in importance from one country to another, they represent, for some countries, a substantial portion of disposable income, and thus a reduction in their flow can cause a drop ...
... for durable consumer goods, while limiting government’s capacity to adopt countercyclical measures. Although remittances vary in importance from one country to another, they represent, for some countries, a substantial portion of disposable income, and thus a reduction in their flow can cause a drop ...
Serbia (B1/BB-/B+)
... perspective, the Russian rubble, the Brazilian real and the Colombian peso outperformed thanks to the stabilization in commodity prices and the significant rally in oil over the last month or so. On a CESEE as well as on a regional level, most currencies retained a firm tone on the back of ECB stimu ...
... perspective, the Russian rubble, the Brazilian real and the Colombian peso outperformed thanks to the stabilization in commodity prices and the significant rally in oil over the last month or so. On a CESEE as well as on a regional level, most currencies retained a firm tone on the back of ECB stimu ...
Should the Maastricht fiscal criteria be redefined?
... government controlled entities are classified outside general government due to their behaviour as market units. However, because of the control established over these corporations, it is certain that the government would assume their liabilities if they fell into financial difficulties. Moreover, c ...
... government controlled entities are classified outside general government due to their behaviour as market units. However, because of the control established over these corporations, it is certain that the government would assume their liabilities if they fell into financial difficulties. Moreover, c ...
Document
... early school leaving and improving tertiary education attainment. By contrast, Luxembourg is still far from reaching its targets for investment in research and developments (R&D), reducing greenhouse gas emission, and reducing poverty. ...
... early school leaving and improving tertiary education attainment. By contrast, Luxembourg is still far from reaching its targets for investment in research and developments (R&D), reducing greenhouse gas emission, and reducing poverty. ...
EUROPEAN COMMISSION Brussels, 22.2.2017 SWD(2017) 81 final
... early school leaving and improving tertiary education attainment. By contrast, Luxembourg is still far from reaching its targets for investment in research and developments (R&D), reducing greenhouse gas emission, and reducing poverty. ...
... early school leaving and improving tertiary education attainment. By contrast, Luxembourg is still far from reaching its targets for investment in research and developments (R&D), reducing greenhouse gas emission, and reducing poverty. ...
EUROPEAN COMMISSION Brussels, 22.2.2017 SWD(2017) 76 final
... government debt is expected to have shrunk to 84.1 % of GDP in 2016 and to continue declining in the short term. Several factors contributed to this outcome. They include the achievement of a primary surplus in 2015 and its increase in 2016, declining debt servicing costs, higher GDP and a slight ap ...
... government debt is expected to have shrunk to 84.1 % of GDP in 2016 and to continue declining in the short term. Several factors contributed to this outcome. They include the achievement of a primary surplus in 2015 and its increase in 2016, declining debt servicing costs, higher GDP and a slight ap ...
A Surplus of Ambition: Can Europe Rely on Large Primary
... concerns about the sustainability of public debts that have manifested themselves periodically in increases in yields that investors require to hold governments’ debt securities. As we write, investors are relatively sanguine. The question is whether they will remain so. It is whether worries about ...
... concerns about the sustainability of public debts that have manifested themselves periodically in increases in yields that investors require to hold governments’ debt securities. As we write, investors are relatively sanguine. The question is whether they will remain so. It is whether worries about ...
global economy report - 2015
... positioned than its peers in the developed world. The World Economic Outlook, published by the International Monetary Fund (‘IMF’) last October, highlighted the worsening operating conditions in some developed and emerging nations. The IMF revised down its global gross domestic product (GDP) forecas ...
... positioned than its peers in the developed world. The World Economic Outlook, published by the International Monetary Fund (‘IMF’) last October, highlighted the worsening operating conditions in some developed and emerging nations. The IMF revised down its global gross domestic product (GDP) forecas ...
The Impact of the Great Recession on Emerging Markets
... fundamentals, this paper uses a unique measure of vulnerabilities developed by IMF staff that, by virtue of its construction, allows for a consistent comparison of vulnerabilities across EMs. Given that for most EMs this was an externally driven crisis, this paper focuses on external sector vulnerab ...
... fundamentals, this paper uses a unique measure of vulnerabilities developed by IMF staff that, by virtue of its construction, allows for a consistent comparison of vulnerabilities across EMs. Given that for most EMs this was an externally driven crisis, this paper focuses on external sector vulnerab ...
Presentation
... effectiveness.” “In our view, the government will maintain its focus on sustainable public finances, and energy supply diversification, as well as the efficient absorption of EU funds.” • “Latvia's fiscal position remains a ratings' strength.” • “Latvia has one of the lowest net general government d ...
... effectiveness.” “In our view, the government will maintain its focus on sustainable public finances, and energy supply diversification, as well as the efficient absorption of EU funds.” • “Latvia's fiscal position remains a ratings' strength.” • “Latvia has one of the lowest net general government d ...
Austria
... ensuring the successful integration of refugees requires further reforms. Directors encouraged the authorities to address these challenges over the medium term through fiscal consolidation, structural reforms to increase productivity growth and labor force participation, and measures to further stre ...
... ensuring the successful integration of refugees requires further reforms. Directors encouraged the authorities to address these challenges over the medium term through fiscal consolidation, structural reforms to increase productivity growth and labor force participation, and measures to further stre ...
Convergence Programme 2016 Update
... EUR 19 million enabled Poland to sign 4 agreements with financial institutions, which should generate funding worth EUR 658 million intended to support investment projects undertaken by small and medium-sized enterprises. It is estimated that more than 10,000 small and medium-sized enterprises and s ...
... EUR 19 million enabled Poland to sign 4 agreements with financial institutions, which should generate funding worth EUR 658 million intended to support investment projects undertaken by small and medium-sized enterprises. It is estimated that more than 10,000 small and medium-sized enterprises and s ...
Public Debt and Deficits
... This paper does not argue that rigorous policy frameworks do not exist—considered analytical tools and normative standards have been developed—but that these frameworks are not well understood by the public. At the highest level, there may be similarities in fiscal frameworks across countries. Howev ...
... This paper does not argue that rigorous policy frameworks do not exist—considered analytical tools and normative standards have been developed—but that these frameworks are not well understood by the public. At the highest level, there may be similarities in fiscal frameworks across countries. Howev ...
Presentation before the Council of Ministers Erdem Başçı Governor
... As a result of the implemented tight monetary policies, we expect inflation to decline starting from early 2012 and reach to 5 percent target level at the end of the next year. ...
... As a result of the implemented tight monetary policies, we expect inflation to decline starting from early 2012 and reach to 5 percent target level at the end of the next year. ...
Economic Survey Spring 2016
... The development of earnings is a major domestic cost factor with important implications for competitiveness. Nominal earnings will rise annually by around one per cent over the outlook period. Assuming that these projections are accurate, Finnish competitiveness will improve in comparison with Swede ...
... The development of earnings is a major domestic cost factor with important implications for competitiveness. Nominal earnings will rise annually by around one per cent over the outlook period. Assuming that these projections are accurate, Finnish competitiveness will improve in comparison with Swede ...
Insolvencies in Central and Eastern Europe
... co-financed investment activities, this was not the only factor in the region’s solid economic activity. For the majority of CEE countries, strengthened domestic demand, especially private consumption, was the main growth driver. Declining unemployment rates, rising wages, low inflation (or even def ...
... co-financed investment activities, this was not the only factor in the region’s solid economic activity. For the majority of CEE countries, strengthened domestic demand, especially private consumption, was the main growth driver. Declining unemployment rates, rising wages, low inflation (or even def ...
The Budget 1990
... debt was 35 cents and rising. That is money we can't use now to get taxes down or to address priorities such as environmental protection, research and development and skills training. We must pay those interest costs. In this budget I will show how, over the next five years, we can reduce that 35 ce ...
... debt was 35 cents and rising. That is money we can't use now to get taxes down or to address priorities such as environmental protection, research and development and skills training. We must pay those interest costs. In this budget I will show how, over the next five years, we can reduce that 35 ce ...
Yojana March 2013 PDF
... target of 5.3 percent, it is the first time since 2008-09 that the fiscal deficit calculated by the finance ministry will dip close to 5 percent. This is significant considering that the current account deficit will also close out this fiscal almost at 5 percent. Further, the revenue deficit has bee ...
... target of 5.3 percent, it is the first time since 2008-09 that the fiscal deficit calculated by the finance ministry will dip close to 5 percent. This is significant considering that the current account deficit will also close out this fiscal almost at 5 percent. Further, the revenue deficit has bee ...
The determinants of government yield spreads in the euro area
... This paper analyses the determinants of sovereign spreads in the euro area from January 2002 to May 2012. The objective is to disentangle the role of country-specific fundamentals, driven by fiscal and macroeconomic factors, from what is referred to as contagion. Following the existing empirical lit ...
... This paper analyses the determinants of sovereign spreads in the euro area from January 2002 to May 2012. The objective is to disentangle the role of country-specific fundamentals, driven by fiscal and macroeconomic factors, from what is referred to as contagion. Following the existing empirical lit ...
West Bank and Gaza
... the PMA lowered required reserves counter-cyclically, thereby boosting liquidity, while mandating the banks to reschedule loan repayments for Gazans to give borrowers time to recover from the war. As of end-December, financial soundness indicators remained strong (Table 4), notwithstanding some redu ...
... the PMA lowered required reserves counter-cyclically, thereby boosting liquidity, while mandating the banks to reschedule loan repayments for Gazans to give borrowers time to recover from the war. As of end-December, financial soundness indicators remained strong (Table 4), notwithstanding some redu ...
Why is fiscal policy often procyclical?"
... from this agency problem. Relative to the models of Barro (1973), Ferejohn (1986) and Persson and Tabellini (2000), we have added government debt. This makes the model truly dynamic, while the previous literature on political agency had static economic environments. Voters observe private and public ...
... from this agency problem. Relative to the models of Barro (1973), Ferejohn (1986) and Persson and Tabellini (2000), we have added government debt. This makes the model truly dynamic, while the previous literature on political agency had static economic environments. Voters observe private and public ...