Ms. Claudia H Dziobek, Mr. Alberto F Jimenez de Lucio, and Mr. James A Chan
This note addresses the following main issues: • Statistical definitions of government (Government Finance Statistics Manual 2001) • Institutional structure of government and public sector • What is a precise definition of government and why it is relevant • Potential pitfalls of lacking a precise definition of government • Definitions of government in IMF-supported programs • Applications for fiscal rules and other fiscal policy design
This 2011 Article IV Consultation highlights that Macedonia is poised to achieve low but positive growth under the baseline scenario of a shallow recession in the euro area. Under a downside scenario, growth would be weaker, and external financing pressures could arise. In the near term, the government would need to reduce expenditure growth to meet the 2012 deficit target. A key longer-term challenge would be to reconcile the competing objectives of higher public investment and increases in pensions and public wages while preserving low public debt and low taxes.
This Report on Observance of Standards and Codes analyzes the principal standard against which Romania's macroeconomic and sociodemographic data are assessed. With some exceptions, the statistics currently produced in Romania generally meet, and in most instances exceed, the recommendations of the General Data Dissemination System with respect to coverage, periodicity, and timeliness of dissemination. However, with respect to other aspects of quality, further improvements are needed, especially in national accounts and government finance statistics and, to a lesser extent, in other sectoral statistics.