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Accrual Budgeting and Fiscal Policy
Author:
Mr. Marc Robinson
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Series:
IMF Working Papers
Volume/Issue:
Volume 2009: Issue 084
Language:
English
Publication Date:
01 Apr 2009
DOI:
https://doi.org/10.5089/9781451872316.001
ISBN:
9781451872316
ISSN:
1018-5941
Pages:
33
Keywords:
WP; control total; cash budget; net lending; aggregate demand; balance sheet value; cash balance; cash requirement; debt measure
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Can an accrual budgeting system-a system in which budgetary spending authorizations to line ministries are formulated in accrual terms-serve the needs of good fiscal policy? If so, how must such a system be designed? What are the practical challenges which may arise in implementing sound fiscal policy under a budgeting system which is significantly more complex than traditional cash budgeting? These are the primary questions addressed in this paper. Because any budgeting system must support the control of key fiscal policy aggregates, the paper also considers the case for reformulating fiscal policy in terms of accrual rather than cash aggregates. The primary focus is on the potential fiscal policy role of net lending and net financial debt. However, the paper also considers whether net worth is an aggregate with major fiscal policy relevance.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund