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Fiji covers a land area of 18,000 square kilometers in the South Pacific, midway between Hawaii and Australia. The country is made up of about 400 islands, of which the two largest comprise 90 percent of the total area and population. Owing to its volcanic origin, about four fifths of the land is mountainous and unsuitable for cultivation, but contains forests, mineral resources, and hydroelectric potential. Agricultural land is fertile with plentiful rainfall, although it is subject to drought and cyclones.
budget estimates. For tax revenue, the null hypothesis was not rejected in May, but was rejected from June onward, with the rejection tending to be stronger with every passing month. Similarly, for total revenue the null hypothesis was not rejected in June, but was rejected from July onward, with the rejection tending to be stronger with every passing month.
IV. E mpirical R esults for the U nited S tates
To demonstrate the applicability of the test to a wide variety of countries, we also evaluate US federal government budgetreceipt estimates for fiscal
A simple statistical methodology is developed to help evaluate monthly progress toward an annual fiscal revenue target, and the applicability of the methodology to both developing and industrial countries is demonstrated using data for Sri Lanka and the United States.
current account surplus. In some capital budgets, the principal item on the receipts side is proceeds of borrowing; in other systems, borrowing is not listed as a capital budgetreceipt but is considered an appropriate means of covering any excess of capital outlays over capital receipts. Other common items of capital receipts include transfers from the operating budget, proceeds of sales of state property, and recoveries of loans. It is sometimes suggested that revenues from death duties, capital levies, and other taxes that are presumed to be paid from private capital
, Non-Rent, and Non-rent Non-Food CPI Inflation
Source: Country authorities.
5. The fiscal and external balances will remain in surplus in 2011 . Despite the sharp rise in current expenditure and lower than budgetedreceipt of profit transfers from public enterprises, the overall fiscal balance (net lending/borrowing) remained in a surplus of 2.7 percent of GDP in 2010/11. 1 The government did not raise any new external borrowings in 2010/11, but issued domestic bonds and Treasury bills (T-bills) to facilitate sterilization and liquidity
( Table 6 ), taking into account borrowing plans of the city of Kyiv and the government’s intention to ensure the financial balance of all social insurance funds. The authorities and staff agreed that the privatization process was currently too slow to achieve the budgetreceipt target of 1 percent of GDP and that additional domestic borrowing may be needed to finance the shortfall. Even in this case, total government and NBU debt would still decline by about 3 percentage points of GDP in 2003, to 32 percent of GDP. 3
Ukraine: Consolidated Government
This 2011 Article IV Consultation highlights that Qatar is using its fiscal space, generated from an increase in hydrocarbon production and prices, to implement a large public spending program. Large infrastructure investments are expected to sustain strong growth of 9 percent to 10 percent in the nonhydrocarbon sector in the medium term. The potential inflationary effect of the recent fiscal package is estimated to be about 1 percentage point. This underscores the need for fiscal policy to monitor aggregate demand and for the Qatar Central Bank to manage liquidity.
funds. It also publishes an annual report detailing its activities. However, Commission’s funding is outside its control and it does not receive all the fees charged to market participants for its services. This results in limited or no resources available to carry out necessary functions. The Commission’s fee structure presently raises more funds than it receives from the SHCP in the budget. Receipt of the full amount of fees charged to the industry and full control over how those funds are allocated would enhance the CNBV’s independence. Where the legislation
A detailed assessment on the observance of Mexico’s compliance with International Organization of Securities Commissions objectives and principles of securities regulation is presented. The regimes governing the regulation of issuers, collective investment schemes, and secondary markets, and with respect to cooperation and information sharing, are extensive. The most significant issues regarding full implementation of the Principles fall under the Regulator Principles. Much of the activity on the Bolsa Mexicana de Valores comes from computer-driven program trading orders that are placed to take advantage of price asymmetries between markets.