Christine J. Richmond, Ms. Dora Benedek, Ezequiel Cabezon, Bobana Cegar, Mr. Peter Dohlman, Michelle Hassine, Beata Jajko, Piotr Kopyrski, Maksym Markevych, Mr. Jacques A Miniane, Mr. Francisco J Parodi, Gabor Pula, Mr. James Roaf, Min Kyu Song, Mariya Sviderskaya, Rima Turk, and Mr. Sebastian Weber
The Central, Eastern, and South Eastern European (CESEE) region is ripe for a reassessment of the role of the state in economic activity. The rapid income convergence with Western Europe of the early 2000s was not always equally shared across society, and it has now slowed dramatically in many countries of the region.
This Technical Assistance Report discusses details of the mission conducted to support the Bosnia and Herzegovina authorities, with a specific focus on the Republic of Srpska (RS), in improving government finance statistics (GFS) for decision making. The mission rounded off research to establish appropriate reconciliation procedures, although some statistical discrepancies remain. The goal is to use the compilation and reconciliation procedures for quarterly and annual GFS reporting to Eurostat and the IMF’s Statistics Department. The May 2018 mission initiated the development of a standardized compilation procedure for nonbudgetary public sector units, and more specifically extrabudgetary units. The report recommends focussing on investigating possibilities into incorporating these compilation files into the wider GFS and macroeconomic statistics compilation. On analysis of the financial statements, the mission assessed that Accrued revenues and received donations also require and adjustment to following the European System of National and Regional Accounts 2010 and Government Finance Statistics Manua 2014 recording.
This technical assistance report (TA) report specifies mission’s efforts to support the Bosnia and Herzegovina authorities, with a specific focus on the Republic of Srpska (RS), in improving government finance statistics (GFS) for decision making. This mission’s focus has been to continue developing reconciliation processes, to develop a compilation process for nonbudgetary public sector units, and to discuss classification questions in context of GFS compilation per the European System of National and Regional Accounts 2010 and the Government Finance Statistics Manual 2014. This mission initiated the development of a standardized compilation procedure for nonbudgetary public sector units, and, more specifically extra-budgetary units. The August 2017 mission mapped out flows between the budget, the health fund, the health institutions, and patients (household), concerning the provision of health care and its funding. This mapping is expected to help serve the classification of functional expenditure of the health fund and the health care providers.
Unilateral adoption of transfer pricing regulations may have a negative impact on real
investment by multinational corporations (MNCs). This paper uses a quasi-experimental
research design, exploiting unique panel data on domestic and multinational companies in 27
countries during 2006-2014, to find that MNC affiliates reduce their investment by over 11
percent following the introduction of transfer pricing regulations. There is no significant
reduction in total investment by the MNC group, suggesting that these investments are most
likely shifted to affiliates in other countries. The impact of transfer pricing regulations
corresponds to an increase in the ``TPR-adjusted'' corporate tax rate by almost one quarter.
This Technical Assistance Report discusses the findings and recommendations made by the IMF mission about improving government finance statistics (GFS) for decision making in the Republic of Srpska, Bosnia and Herzegovina. It was found that a number of weaknesses of institutional arrangements needed to compile GFS in Bosnia and Herzegovina have yet to be resolved. Although collaboration between units involved in the compilation of GFS is well established in the Republic of Srpska, collaboration between the Bosnian institutions at the entity level and the state institutions lack fully the (in)formal prerequisites to support comprehensive and adequate fiscal data reporting. Particularly the sharing between institutions of data, metadata, and supporting information required for the accurate, timely, efficient, and auditable compilation of GFS needs strengthening.
2017 Article IV Consultation, First Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Extension of the Arrangement, Rephasing of Purchases, and Waiver of Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Bosnia and Herzegovina
This Technical Assistance Report assesses the current government finance statistics compilation environment in Bosnia and Herzegovina (BiH), particularly the classification of institutional units and debt data compilation based on the Government Finance Statistics Manual and European System of National and Regional Accounts frameworks. It was found that a full list of public sector units in BiH does not currently exist. The Central Bank of Bosnia and Herzegovina (CBBH) is in a good starting position to compile the public sector debt data. The results of its work on financial balance sheets should enable the CBBH to produce general government debt data in a relatively short term.
This Technical Assistance Report discusses the recommendations made by the IMF mission to assist the Central Bank of Bosnia Herzegovina (CBBH) in the compilation and dissemination of government finance statistics (GFS) in accordance with the guidelines of the Government Finance Statistics Manual 2001 and its update. It is recommended that the legal basis for the collection of GFS data by the CBBH should be strengthened to get more easily access to (confidential) data which serve as input for GFS. The production of GFS could benefit from more cooperation between the CBBH, the Ministries of Finance, and the National Bureau of Statistic. A permanent working group of compilers of macroeconomic statistics in different institutions should be set up to this aim.