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Budget Institutions in G-20 Countries - An Update
Author:
International Monetary Fund
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Series:
Policy Papers
Volume/Issue:
Volume 2014: Issue 041
Language:
English
Publication Date:
04 Jul 2014
DOI:
https://doi.org/10.5089/9781498343541.007
ISBN:
9781498343541
ISSN:
2663-3493
Pages:
48
Keywords:
PP; government; country; budget institution; adjustment strategy; draft budget; consolidation plan; State debt; Budget planning and preparation; Fiscal consolidation; Fiscal rules; Macroeconomic and fiscal forecasts; Africa
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The recent crisis left many G-20 countries with significant fiscal consolidation needs. There is evidence that well-designed budget institutions can help countries to plan and deliver successful fiscal adjustments. A 2010 internal IMF study identified ten budget institutions which can support the consolidation process, assessed their strength in each G-20 country, and identified priorities for institutional reform. Following consultations with all G-20 countries and using a revised evaluation framework, this paper: (i) reports on progress in strengthening their budget institutions; (ii) analyzes their impact on post-crisis fiscal performance; and (iii) makes recommendations for further institutional reform
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Cover Policy Papers
Policy Papers
ISSN:
2663-3493
Publisher:
International Monetary Fund