IV The Experience of Earlier Accession Countries
Author: International Monetary Fund
Language:
English
Keywords:
OP; EU accession; country; EU grant; EU budget; EU average; EU transfer; FDI inflow; EU directive; Income; Fiscal consolidation; Purchasing power parity; Baltics; Foreign direct investment

Abstract

In their drive to join the EU, the Baltics face fiscal challenges similar to those of the countries that joined in the past three decades and had incomes below the EU average. Such countries were Greece, Ireland, Portugal, and Spain—henceforth referred to as EACs (earlier accession countries). The harmonization of indirect taxation, the Common Agricultural Policy (CAP), the implementation of EU-related transportation projects and environmental standards, and, more recently, the adherence to Maastricht Treaty criteria and SGP provisions have all required a substantial reorientation in the EACs’ fiscal policies. The way in which these countries managed these challenges, often requiring a considerable change in the size and composition of revenues and expenditures, can provide a lesson for the Baltic countries and other EU accession candidates.

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Cover The Baltic Countries
The Baltic Countries
Medium-Term Fiscal Issues Related to EU and NATO Accession
Author: International Monetary Fund
ISBN:
9781589061040
ISSN:
0251-6365
Publication Date:
12 Apr 2002
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589061040.084
Pages:
44

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