01878cas a2200241 a 4500 AALejournalIMF003328 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451847444 1018-5941 BD-DhAAL BD-DhAAL Kopits, George. Lessons in Fiscal Consolidation for the Successor States of the Soviet Union / George Kopits. Washington, D.C. : International Monetary Fund, 1993. 1 online resource (26 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 lessons in fiscal consolidation for the former Soviet Union that emerge from the experience of Central and Eastern European economies in transition. A central lesson is the need to support the macroeconomic stabilization with a front-loaded fiscal adjustment. Consistent with this adjustment path, structural reform in the tax and expenditure areas should be aimed at allocative efficiency and fairness, and its sequencing be predicated largely on administrative constraints. In the face of the uncertainty of fiscal projections, formulation of contingency measures is necessary. In addition, elimination of submerged fiscal imbalances, stemming from quasi-fiscal activities of state-owned nonfinancial enterprises and financial institutions, is just as important as correcting the measured budget deficit. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1993/054 Full text available on IMF http://elibrary.imf.org/view/journals/001/1993/054/001.1993.issue-054-en.xml IMF e-Library