01777cas a2200253 a 4500 AALejournalIMF000255 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451848120 1018-5941 BD-DhAAL BD-DhAAL Davis, Jeffrey. Fiscal Transition in Countries of the Former Soviet Union : An Interim Assessment / Jeffrey Davis, A Cheasty. Washington, D.C. : International Monetary Fund, 1996. 1 online resource (36 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper reviews the uneven record of fiscal performance in the states of the former Soviet Union since independence. Deficits have come down rapidly, an important contribution to stabilization. Given, however, the unexpectedly severe revenue decline and limited financing, the stabilization was reached by sharp cuts in expenditure. The cuts were abrupt and not focused on transition goals, and the instruments used vitiated normal budgetary processes. Hence, benchmarks of fiscal success other than stabilization are elusive. Government intervention and subsidies remain important, social spending is inefficient, and there is little evidence in the budget of restructuring. Mode of access: Internet Cheasty, A. IMF Working Papers; Working Paper ; No. 1996/061 Full text available on IMF http://elibrary.imf.org/view/journals/001/1996/061/001.1996.issue-061-en.xml IMF e-Library