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Europe > Slovenia, Republic of

You are looking at 1 - 10 of 11 items for :

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Cover Technical Assistance Reports
Republic of Slovenia: Technical Assistance Report-Public Investment Management Assessment
International Monetary Fund. Fiscal Affairs Dept.
Slovenia’s public investment management institutions, as assessed by the PIMA, perform well overall relative to European peers. Availability of funding for public investment, fiscal targets and rules, maintenance funding and monitoring of public assets are areas of strength. Key areas for improvement are appraisal and selection of projects, procurement, and portfolio management and oversight. The near-term challenge will be to address bottlenecks in the execution of capital projects. Over the medium to longer term, tighter fiscal constraints will raise the premium for stronger appraisal and selection processes.
Keywords:
Public investment management assessment; PIMA; Infrastructure governance; project appraisal; medium-term fiscal planning; Republic of Slovenia.; State secretary; IMF's Fiscal Affairs Department; D. investment implementation; management institution; C. investment allocation; Public investment spending; Budget planning and preparation; Infrastructure; Fiscal risks; Capital spending; Eastern Europe; Europe; Global
Cover IMF Staff Country Reports
Republic of Slovenia: Technical Assistance Report-Establishing a Spending Review Process
International Monetary Fund. Fiscal Affairs Dept.
This paper discusses key findings and recommendations of the Technical Assistance report on establishing a spending review process in Slovenia. Slovenia’s fragile fiscal situation requires further consolidation to ensure that the upward trajectory of public debt does not threaten long-term fiscal sustainability. Spending in the education sector is the fourth-highest spending level. Spending pressures also need to be explicitly identified, quantified, and included in the spending review to better inform the government’s decision making process. There is also a need to update existing performance information associated with government expenditure programs to ensure that more meaningful information focused on achieving desired outcomes is developed to better inform future reviews.
Keywords:
ISCR; CR; government employment; spending pressure; early retirement; EUROSTAT General government statistic; expenditure increase; policy option; policy objective; EUROSTAT General government statistics; policy priority; wage bill; statistics database; government policy-makers; Public expenditure review; Budget planning and preparation; Europe; Eastern Europe
Cover IMF Working Papers
Strengthening Post-Crisis Fiscal Credibility: Fiscal Councils on the Rise — A New Dataset
Mr. Xavier Debrun
and
Mr. Tidiane Kinda
Institutions aimed at constraining policy discretion to promote sound fiscal policies are once again at the forefront of the policy debate. Interest in “fiscal councils,” independent watchdogs active in the public debate, has grown rapidly in recent years. This paper presents the first cross-country dataset summarizing key characteristics of fiscal councils among IMF members. The data documents a surge in the number of fiscal councils since the crisis. It also illustrates that well-designed fiscal councils are associated with stronger fiscal performance and better macroeconomic and budgetary forecasts. Key features of effective fiscal councils include operational independence from politics, the provision or public assessment of budgetary forecasts, a strong presence in the public debate, and the monitoring of compliance with fiscal policy rules.
Keywords:
WP; fiscal council; public goods; Credibility of fiscal policy; fiscal councils; fiscal rules; fiscal performance; forecast errors; council dataset; councils characteristic; IMF country paper; background country note; Budget planning and preparation; Fiscal stance; Africa; Europe
Cover IMF Working Papers
Advanced Public Financial Management Reforms in South East Europe
Mia Pavesic-Skerlep
and
Mr. Eivind Tandberg
This paper aims to clarify possible systemic bottlenecks to the introduction of advanced PFM reforms in the SEE countries. It relates key fiscal developments to PFM reform processes over the last 15 years. PFM reform strategies must be realistic, with clear objectives and timetables, and with strong country ownership. Among the advanced reforms, some aspects of medium-term budgeting seems to be somewhat less challenging than performance-oriented budgeting, and it could be rational to make sure that there is solid progress in this area first. When developing performance budgets, countries should consider focusing initial efforts on the areas that are most suitable for performance management, such as education and health.
Keywords:
WP; SEE country; budget process; SEE countries government expenditure; budget program; MTB plan; program structure; budget system; performance budget reform; budget negotiations; Budget planning and preparation; Performance-based budgeting; Medium-term budget frameworks; Eastern Europe; Southern Europe
Cover IMF Staff Country Reports
Republic of Slovenia: Selected Issues
International Monetary Fund
This Selected Issues paper analyzes the challenges that the Republic of Slovenia will face in the coming years. It examines the efficiency of the Slovene banking sector in the European Union context. The paper analyzes indicators of bank efficiency by comparing performance indicators for banks in Slovenia, the European Monetary Union, and new member states. It presents results from cross-country econometric estimates of banking sector cost efficiency. The paper also discusses results from estimates of cross-country banking sector contestability, and the determinants of efficiency and contestability.
Keywords:
ISCR; CR; Slovene bank; bank; chapter IV; bank efficiency; expenditure reform; chapter III; Capital markets; Stock markets; Fiscal rules; Europe
Cover IMF Working Papers
Interpreting EU Funds Data for Macroeconomic Analysis in the New Member States
Robert Sierhej
and
Mr. Christoph B. Rosenberg
Drawing on a dataset suitable for macroeconomic analysis, the paper provides an overview of the magnitudes, purpose and institutional implications of EU-related transfers to and from the new member states. A rough analysis of accounting identities and first-round effects shows that EU funds may have led to a fiscal drag of up to 1 percent of GDP and an additional aggregate demand stimulus of up to 1 percent of GDP during the first years of membership. These effects are likely to increase as additional funding become available under the new financial perspective, pointing to the need to consider policy tradeoffs.
Keywords:
WP; EU fund; fund; government
Cover IMF Staff Country Reports
Republic of Slovenia: Selected Issues and Statistical Appendix
International Monetary Fund
This Selected Issues paper provides a quantitative assessment of the determinants of inflation in Slovenia, and evaluates the likelihood of the Maastricht inflation criterion being met. It concludes that on the basis of currently identified policies, Slovene inflation will likely remain above the Maastricht criterion over the assessment period. The IMF staff analysis suggests that the economic slowdown related to the unfavorable external environment contributed about two-thirds to disinflation in 2003. This paper also analyzes the direct fiscal implications of European Union accession on Slovenia.
Keywords:
ISCR; CR; budget; Slovenia; Maastricht inflation criterion; EU budget; EU entry; EU contribution; EU accession; equilibrium inflation; Inflation; Budget planning and preparation; Output gap; Productivity
Cover IMF Working Papers
Budget System Reform in Transitional Economies: The Case of the Former Yugoslav Republics
Mr. Jack Diamond
and
Mr. Duncan P Last
For the republics of the former Socialist Federal Republic of Yugoslavia (SFRY) as for many other transition economies, an important step in introducing a more market-oriented system was the restructuring of their budget systems. This paper reviews and evaluates the process of budget system reform during the transition period extending from the time they emerged from the collapse of the SFRY in 1989 until the end of 2002. For at least a decade of this period, the Fiscal Affairs Department of the IMF has been providing technical assistance (TA) to these countries to facilitate such reforms. Based on the material generated by this effort, the authors offer a review of the progress made and an assessment of the reform elements still to be completed. Given that the former Yugoslav republics all commenced the reform process with the same institutions, this paper offers a unique opportunity to analyze the critical elements in successful budget system reform. An attempt is made to explain the varying degrees of success experienced by different countries, and a reform agenda is suggested to guide future TA.
Keywords:
WP; submission system; government operation; banking arrangement; payment order; budget execution; cash management; government payment; MFERAC information system; Budget Reform; Yugoslavia; government institution; Budget planning and preparation; Budget execution and treasury management; Fiscal accounting and reporting; Central government spending; Global
Cover IMF Staff Country Reports
Republic of Slovenia: Staff Report for the 2003 Article IV Consultation
International Monetary Fund
This 2003 Article IV Consultation highlights that economic growth in the Republic of Slovenia slowed during 2001–02 to about 3 percent, owing to a weak external environment and subdued domestic demand. Export growth slowed as demand from the European Union weakened, but the impact was cushioned by a rapid expansion of exports to southeastern Europe and Russia. With imports growing more slowly than exports and the terms of trade improving, the external current account swung into surplus in 2001 and strengthened further in 2002, reflecting a satisfactory competitive position.
Keywords:
ISCR; CR; government; rate; indexation; deficit; inflation expectation; Slovene authorities; indexation mechanism; State budget balance; EU accession; tolar bill rate; inflation rate; debt ratio; privatization receipts; EU average; government debt; Inflation; Budget planning and preparation; Europe; Global
Cover IMF Staff Country Reports
Republic of Slovenia: Report on the Observance of Standards and Codes—Fiscal Transparency Module
International Monetary Fund
This report evaluates the Observance of Standards and Codes on Fiscal Transparency Module for the Republic of Slovenia. Slovenia meets the requirements of the fiscal transparency code in many important respects. The basic legislation and practices are in line with many Organization for Economic Cooperation and Development (OECD) and European Union countries, and there is generally a clear specification of the roles and responsibilities of different institutions. The basic policies for provision of information are consistent with international practices and procedures for budget preparation.
Keywords:
ISCR; CR; government; government equity holding; accounting; fund; government function; MOF debt report; state budget; public funds; budgetary fund; privatization process; Budget planning and preparation; Fiscal accounting and reporting; Budget execution and treasury management; Contingent liabilities; Europe