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Business and Economics > Budgeting

You are looking at 1 - 7 of 7 items for :

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Cover IMF Staff Country Reports
Malta: Technical Assistance Report-Fiscal Transparency Evaluation
International Monetary Fund. Fiscal Affairs Dept.
Malta meets a large number of the principles of the Fiscal Transparency Code at good or advanced level. Based on the assessment made in this report, Malta meets the good or advanced practice on 21 out of 35 principles in the Code. One principle, related to natural resources, was not relevant to Malta and therefore not assessed. Malta meets the basic practice on a further 12 principles (Table 0.1). Practices are stronger in the areas of fiscal reporting and fiscal forecasting and budgeting, where Malta is subject to and complies with the comprehensive reporting framework established by the European Union. Practices are generally weaker in the area of fiscal risk analysis and management, notably oversight of public corporations.
Keywords:
ISCR; CR; central government; government guarantee; balance sheet; contingency reserve; Outstanding Malta Gov. securities; banking sector; budget documentation; financial situation; NSO report revenue; open economy; stock-flow adjustment; control tax expenditure; public sector; potential GDP; Fiscal risks; Budget planning and preparation; Fiscal reporting; Financial statements; Europe; Global
Cover IMF Working Papers
Fiscal Performance, Institutional Design and Decentralization in European Union Countries
Luc Eyraud
,
Ms. Anita Tuladhar
,
Mr. Julio Escolano
,
Ms. Marialuz Moreno Badia
, and
Ms. Juliane Sarnes
This paper analyzes the impact of decentralization on overall fiscal performance in the European Union, taking into account fiscal institutional arrangements. We find that spending decentralization has been associated with sizably better fiscal performance, especially when transfer dependency of subnational governments is low. However, subnational fiscal rules do not seem to be associated with better performance.
Keywords:
WP; government; country; Lagged government debt; Fiscal decentralization; fiscal institutions; fiscal rules; European Union; national government; access to borrowing; authorities' access; central government; expenditure share; government tier; Fiscal federalism; Fiscal stance; General government spending; Eastern Europe; Europe
Cover IMF Staff Country Reports
Malta: 2008 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Malta
International Monetary Fund
This 2008 Article IV Consultation highlights that Malta has experienced a three-year-long expansion reflecting strong foreign direct investment, export diversification, and value-added upgrading. Financial soundness indicators held up in 2007 despite unfavorable international developments. The banking sector’s liquidity and funding profile are healthy, and banks have remained profitable despite markdowns in security portfolios. Nonperforming loans fell further but are still comparatively high and thinly provisioned. The authorities are unbundling and opening to private participation the fuel and gas operations of the public energy company.
Keywords:
ISCR; CR; productivity gain; Malta; terms-of-trade gain; spending; authority; private sector analyst; state aid; three-year-long expansion; growth potential; retrenchment measure; price flexibility; Exports; Competition; Public sector; Global
Cover IMF Working Papers
Do Debt-Service Savings and Grants Boost Social Expenditures?
Mr. Alun H. Thomas
This paper evaluates whether debt relief and grants can boost social expenditures in lowincome countries. It finds that declines in debt-service help raise social expenditures, but no relationship between grants and social expenditures. Moreover, since the mid-1980s, lowincome countries have managed to fully insulate social expenditures from the effects of budgetary tightening. The magnitude of the impact of these effects on social expenditures, however, is dwarfed by the resources needed to enable these countries to reach the Millennium Development Goals.
Keywords:
WP; debt service; debt-service saving; coefficient; debt ratio
Cover IMF Staff Country Reports
Malta: Staff Report for the 2003 Article IV Consultation
International Monetary Fund
Malta has advanced toward accession to the European Union (EU), and its progress in international competition and fiscal deficit reduction has contributed to rapid growth and enhanced the economy's resilience to economic shocks. Executive Directors stressed the need for fiscal consolidation, strengthening of public finances, monetary, and exchange rate policies and the banking system. They welcomed the authorities' efforts in antimoney laundering and the combating of the financing of terrorism, and urged the authorities to criminalize the financing of terrorism.
Keywords:
ISCR; CR; routine cash management operation; Q1; GDP; staff appraisal; EU referendum; trade pattern; exchange rate; Budget planning and preparation; Public employment; Global; Europe; North Africa
Cover IMF Staff Country Reports
Malta: Staff Report for the 2001 Article IV Consultation
International Monetary Fund
Malta showed good economic performance in the past years, reflecting its strengthened policy, and a benign external environment. Executive Directors appreciated the fiscal consolidation and structural reforms, and noted that the country remained vulnerable to investment shocks and short-term capital flows. They emphasized that steps should be taken to secure fiscal deficit reduction in the short- and medium-terms, and also to strengthen the financial system, exchange rate regime, and monetary policy. They agreed that the country's database is adequate for surveillance, but requires further strengthening.
Keywords:
ISCR; CR; Malta; deficit; monetary policy; broad money; interest rate; current account; private sector employment; U.S. dollar; central bank; Malta's openness; IMF's assessment; Malta well; Government debt management; Current account balance; Budget planning and preparation
Cover IMF Staff Country Reports
Malta: Staff Report for the 1999 Article IV Consultation
International Monetary Fund
This 1999 Article IV Consultation highlights that real GDP growth in Malta in 1997 and 1998 continued the declining trend. The contribution to demand from net exports offset weaker growth of real consumption and investment. Export volumes rose by 3 percent and 5 percent in 1997 and 1998, respectively, with machinery exports performing particularly strongly, while import volumes contracted in 1997 by 4 percent before rising by 2½ percent in 1998. Import behavior mirrored that of domestic demand, which slowed as the growth of household consumption fell to below 1 percent in 1997 and 1998.
Keywords:
ISCR; CR; policy performance; deficit; liberalization; GDP; privatization unit; staff definition; current account; GDP ratio; Government debt management; Budget planning and preparation